The Monroe CT closed single family real estate sales for April 2014 decreased 47%, as compared to April 2013.
However, average list and sales prices INCREASED 13% and 11% respectively. The median home price INCREASED 42%.
The market absorption rate for the month was at a high 11.00 months meaning it would take 11 months to sell off the present inventory keeping Monroe in a strong buyer's market statistically. Lower sales combined with slightly higher inventory accounted for the high absorption rate this month.
CLICK HERE TO SEARCH for Your New Home in Monroe, CT
Futures show 24 houses under deposit and 24 properties under contract.
Thinking of selling and want to know what your home might sell for? Get a FREE Monroe real estate comparative market analysis.
Sellers: Please read Biggest Home Seller Mistakes if you are thinking of listing your home. What do you think the #1 biggest mistake is?
Which houses attracted buyers and sold in Monroe CT in April 2014?
Monroe CT April 2014 Homes Sold
(as recorded in the Greater Fairfield County MLS as of 5/21/14)
The absorption trend, which shows the number of months it would take to sell the entire inventory at the same pace, came in at 10.24 for the last three months, which statistically is a strong 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.
The usual 'sweet spot' of the $300K-400K price range returned this month with the $200K-$300K at its heels.
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 -- May 21, 2014. 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 April 2014