The Monroe CT single family real estate sales for May 2014 decreased 33% as compared to May 2013, but average list and sales prices INCREASED 5% and 6% respectively. The median home price was relatively flat and days on the market went down 14%.
Sales were UP 77% from April. See annual chart below.
The market absorption rate for the month was 6.81 months meaning it would take 6.81 months to sell off the present inventory keeping Monroe in a buyer's market statistically.
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Futures show 27 houses under deposit and 23 properties under contract.
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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 May 2014?
Monroe CT May 2014 Homes Sold
(as recorded in the Greater Fairfield County MLS as of 6/21/14)
The absorption trend, which shows the number of months it would take to sell the entire inventory at the same pace, came in at 9.34 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 held its position this month accompanied by an even spread across price ranges.
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 -- June 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 May 2014