Stratford CT May 2013 single family home sales ROCKED showing a 61% INCREASE in sales as compared to May 2012 AND a 56% increase in sales from April 2013! See annual sales chart below.
Listing and selling averages INCREASED 15% and 16% respectively with the median home price going UP 9%. Awesome!
The month remained in a SELLER's MARKET with a less than 6 month supply of homes at 3.83 months which statistically means that if there was no new inventory, it would take 3.83 months to sell off the active 203 listings.
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Futures are strong! Moving forward, there are 50 houses under deposit and a strong 75 pending sales (under contract). To date for May, there are 51 closed sales and the end of month should add on additional sales as well.
Which houses attracted buyers and sold in Stratford CT in May 2013?
Stratford CT May 2013 Property Transfers
(as recorded in the Greater Fairfield County MLS as of 6/25/13)
The hot spot for sales in May 2013 continued to be in the $200K-$300K range with the $100K-$200K right on its heels. Stratford CT remains a very desirable, affordable 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 4.87 for the last three months, into a seller's market statistically.
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 -- June 25, 2013. No representation or warranty is made to the accuracy of this information.
Stratford CT Real Estate Market Report and Homes Sold May 2013