Stratford CT Single family home sales in February 2015 defied the cold, snowy weather and were HOT HOT HOT instead. Sales were UP 26% as compared to February 2014 sales.
Listing and closed price averages both INCREASED 29%. The median for the month was flat at a 1% decrease. Full disclosure -- Yes, that one $1.45 million waterfront sale did help to bring up the averages.
The absorption rate for the month was at 7.12 months, meaning if there was no new inventory, it would take 7.12 months to sell off the active 242 listings.
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Moving forward, there are 62 houses under deposit and 56 pending sales (under contract). That's a nice, healthy outlook for closed home sales.
Which houses attracted buyers and sold in Stratford CT in February 2015?
Stratford CT February 2015 Property Transfers
(as recorded in the Greater Fairfield County MLS as of 3/27/15)
The sweet spot for sales in February 2015 remained in the $100K-$200K range with 41% of sales with the $200-300K range right behind. 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 9.19 months for the last three months. Lower sales last month brought this average up.
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.
Look at that 62% jump in sales from last month!
The sales average for the month is standing up tall coming in third place for the year and the highest in the last six months.
Check out previous sales and averages here.
Date Source: Greater Fairfield County Multiple Listing Service -- March 27, 2015. No representation or warranty is made to the accuracy of this information.
Stratford CT Real Estate Market Report and Homes Sold February 2015