Stratford CT Real Estate Market Report -March 2013 -- A Banner Month!
Stratford CT March 2013 single family home sales showed a 6% INCREASE in sales as compared to March 2012. Additionally, sales were UP 85% from last month. (See annual chart below).
Listing and selling averages both went UP 35% and the median showed an 18% increase.
The month went back into a SELLER's MARKET with a less than 6 month supply of homes at 4.76 months which statistically means that if there was no new inventory, it would take 4.76 months to sell off the active 176 listings.
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Now look at these numbers!! Moving forward, there are 61 houses under deposit and 72 pending sales (under contract). As predicted in last month's report, March did turn out to be a banner month based on futures!
Which houses attracted buyers and sold in Stratford CT in March 2013?
Stratford CT March 2013 Property Transfers
(as recorded in the Greater Fairfield County MLS as of 4/25/13)
The hot spot for sales in March 2013 was in the $200K-$300K range. Stratford CT remains a very desirable town for first time buyers and downsizers.
The absorption TREND, which shows the number of months it would take to sell the entire inventory at the same pace, came in at 6.14 for the last three months, just creeping back into a buyer's market.
Keep in mind that this rate is for ALL houses. If you are selling your home, your agent should calculate the absorption rate trend for your price point to get a more accurate analysis. Some price points favor sellers; others favor buyers.
The success in selling your house in Stratford CT 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. A house will sell if there is a synergy among all four.
CONTACT ME for advice on how to LIST, MARKET, and SELL your home effectively in today's market. All agents do not provide the same marketing services.
Thinking about selling or just want to know what your home is worth? GET a FREE professional market analysis for your Stratford CT home.
Date Source: Greater Fairfield County Multiple Listing Service -- April 25, 2013. No representation or warranty is made to the accuracy of this information.
Stratford CT Single Family Market Report - March 2013 - Stratford CT Real Estate