Shelton CT single family home sales for May 2016 were exactly the same as compared to May 2015 sales.
Both listing average and closed sales averages went UP 38% and 36% respectively with the median INCREASING 40%. This median is in line with the sales price average, but it is important to understand the difference between median and averages when reading market reports.
The absorption rate went just over into a buyer's market, from a balanced market in April, with 6.75 months of supply. Translation: it would take 6.75 months to sell off the present inventory of 189 homes. See the absorption rate chart below for the three-month trend.
Going forward, there are 57 homes under deposit and 60 homes pending. These numbers are stronger than last month.
Shelton CT May 2016 Homes Sold
as recorded in the Greater Fairfield County MLS
Where was the sweet spot for sales in May? The top spot was shared by the two most popular price ranges, with 57% of sales.
May 2016 sales dropped a bit from last month, but with strong pending sales and properties on deposit right behind that, there will be a uptick in June/July.
The absorption TREND, which shows the number of months it would take to sell the entire inventory at the same pace, came in at 6.52 months for the last three months, in a buyers market statistically.
This rate is for ALL houses. If you are selling your home, your agent should calculate the absorption rate for your price point to get a more accurate analysis. Some price points favor sellers; others favor buyers.
Thinking of selling? Get a complimentary free market analysis for your Shelton home.
The success in selling your house in Shelton or any other community is dependent upon accurate pricing, effective preparation, calculating the absorption rate for your particular price point, and having a strong online marketing presence.
Contact me for advice on how to list your home effectively in today's market. Get an exceptional marketing plan for your money.
Sellers: Please read Biggest Home Seller Mistakes if you are thinking of listing your home.
Date Source: Greater Fairfield County Multiple Listing Service -- June 26, 2016. No representation or warranty is made to the accuracy of this information.
Shelton CT Real Estate Market Report and Homes Sold - May 2016