Market Statistics for Wolcott CT May 2016
Currently in Wolcott CT there are 137 active residential listings for sale. They range from a 888 square ft, 1-bedroom ranch listed at $84,900 to a 3,039 square ft, 4-colonial listed at $699,000. The average list price of the homes currently available for sale in Wolcott CT is $282,514. The average days on market for these homes is 148 days. For the month of May, there were 19 new homes listed for sale in Wolcott CT.
There are currently 14 homes under contract in Wolcott CT. The average list price for the homes under contract is $229,688 with average days on market of 127 days.
In May 2016, 17 homes closed in Wolcott CT. They ranged from a 1,080 sq ft, 3-bedroom ranch, which sold for $78,000 to a 1,828 Sq Ft, 2-bedroom colonial, which sold for $362,000. Average sales price of the homes that sold was $233,237. Average DOM of 95 days. The closed properties had a sales price to List price ratio of 99%.
By comparison, there were 16 closings in Wolcott CT for the month of May 2015, with an average price of $246,575 and avg. days on market of 126. This would indicate that for May 2016 the number of homes sold was 1 greater than for the comparable period in 2015 with a 1/2% decrease in average value but with less days on market.
For the year 2015, the market sales or absorption rate was 15 sales per month, with an average sales value of $215,735 and average days on market of 76.
For the first quarter of 2016, the market sales or absorption rate for Wolcott CT was 9 sales per month, with an average sales value of $224,691 and average days on market of 83. This rate with the current inventory would be a 12+ month absorption rate. The current market is still considered a strong buyer’s market.
The graph demonstrates the average monthly sales value in Wolcott CT for the previous 12 months with strong fluctuations from month to month. The values in Wolcott CT are not showing signs of improvement or consistency.
If you are interested in buying or selling a home in the Wolcott CT area send me an email or call and we can set up a time to meet.
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.
Wolcott CT Real Estate Sales Report for May2016
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