June 2013 was another great month in closed sales in the Monroe CT real estate market with a 50% INCREASE in sales as compared to June 2012 . However, average list and sales prices decreased slightly at 4% and 2% respectively. The median home price average was down 7%.
The market absorption is down to 3.81 months meaning it would take 3.81 months to sell off the present inventory placing Monroe statistically in a seller's market.
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Futures remain strong with 33 houses under deposit and 19 properties under contract.
Which houses attracted buyers and sold in Monroe CT in June 2013?
Monroe CT June 2013 Homes Sold
(as recorded in the Greater Fairfield County MLS as of 7/14/13)
The absorption trend, which shows the number of months it would take to sell the entire inventory at the same pace, came in at 3.87 for the last three months, which, as stated above, statistically is defined as a seller's market. Monroe needs inventory!
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.
The sweet spot of the usual $300-400k price range had some competition for top billing with the lower $200-$300K range which drove the averages down slightly.
Remember, each month is a snapshot of the month including all sales. Individual price ranges and results will vary which will determine a correct listing price or amount to offer on a purchase.
Want to know what your home is worth in Monroe? Get a FREE Monroe real estate comparative market analysis done for your property.
The success in selling your house in Monroe 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.
Date Source: Greater Fairfield County Multiple Listing Service -- July 14, 2013 . No representation or warranty is made to the accuracy of this information.
Related Monroe CT Posts:
Monroe CT Market Report Archive
Monroe CT Real Estate Market Report and Homes Sold June 2013