September was a GREAT month for home sales in Stratford CT.
Single family home sales in September 2014 INCREASED 12% compared to September 2013 and went up 48% from August 2014 sales. (See annual chart below). The median was up 5%.
Listing and closed averages both decreased 2%.
The absorption rate for the month remains in buyer's market territory statistically at 6.20 months, meaning that if there was no new inventory, it would take 6.20 months to sell off the active 285 listings.
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Moving forward, there are 47 houses under deposit and 58 pending sales (under contract) up slightly from last month.
Which houses attracted buyers and sold in Stratford CT in September 2014?
Stratford CT September 2014 Property Transfers
(as recorded in the Greater Fairfield County MLS as of 10/27/14)
The sweet spot for sales in September 2014 returned to the popular $200K- $300K range with 41% of the sales with the $100K - $200K range at 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 6.90 months for the last three months.
Keep in mind that 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.
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. Get the most for your listing dollars!
Sellers: Please read Biggest Home Seller Mistakes if you are thinking of listing your home.
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 -- October 27, 2014. No representation or warranty is made to the accuracy of this information.
Stratford CT Real Estate Market Report and Homes Sold September 2014