What's My Middlebury CT Home Worth October 2015
Currently in Middlebury CT there are 96 active residential listings for sale, with 19 new listings being added in October. The homes for sale in Middlebury CT range from a 672 square ft, 2-bedroom ranch listed at $69,900 to a 6,402 square ft, 4-bedroom, contemporary estate on 4.7 acres listed at $4,925,000.
The average list price of the homes currently available for sale in Middlebury CT is $560,301. The average days on market for these homes are 159 days. In addition, there are currently 8 homes under contract in Middlebury CT.
In October 2015, 5 homes closed in Middlebury CT. They ranged from a 1,095 square ft, 3-bedroom ranch which sold for $156,000 to a 3,531 square ft, 4-bedroom colonial which sold for $550,000. The closed homes had an average sales price of $233,900 and avg. days on market of 62.
By comparison, there were 3 closings in Middlebury CT for the month of October 2014, with an average sales price of $361,333 and avg. days on market of 51. This demonstrates that for October of 2015, the market in Middlebury CT was better by 2 sold unit as compared to October of the previous year, but with a 45% decrease in average value.
For the year 2014, the market sales or absorption rate was 5 sales per month, with an average sales value of $307,914 and average days on market of 106.
For the first quarter of 2015, the market sales or absorption rate for Middlebury CT was 3 sales per month, with an average sales value of $284,625 and average days on market of 128.
For the second quarter of 2015, the market sales or absorption rate for Middlebury CT was 7 sales per month, with an average sales value of $357,465 and average days on market of 117.
For the third quarter of 2015, the market sales or absorption rate for Middlebury CT was 10 sales per month, with an average sales value of $300,950 and average days on market of 99. This rate with the current inventory would be a 9+ month absorption rate. The current market is still considered a buyer’s market.
The graph demonstrates the average monthly sales value in Middlebury CT for the previous 12 month period with inconsistent numbers from month to month. The values in Middlebury CT have not yet stabilized and have decreased drastically.
For sellers it is essential to have a sales price on your home consistent with the most recent activity. We offer free market evaluations to assist you in your sale.
If you would like information on homes for sale in Middlebury CT, please call me at 203-206-0754 or send me an email. I would be happy to assist you or to discuss homes on the market in Middlebury CT.
Middlebury CT Real Estate Sales Report for October 2015
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Ed Silva RE/MAX Professionals, www.edwardsilva.com 203-206-0754