What a way to end a year!! Stratford CT Single family home sales in December 2015 INCREASED 154% compared to December 2014 sales.
Listing and closed price averages went UP 11% and 10% respectively. The median was UP 9%.
Days on the market went up 18%.
The absorption rate for the month went further into seller's market territory from 4.27 last month to 2.93 this month, meaning if there was no new inventory, it would take 2.93 months to sell off the active 179 listings.
The number of listings decreased 5% from last month. This fact along with the high sales pushed that rate down. Great for sellers who have their homes prepared to sell and priced correctly, BUT not so for buyers who are searching daily for new inventory.
Thinking of buying a home in Stratford CT?
Moving forward, there are 36 houses under deposit and 58 pending sales (under contract).
Which houses attracted buyers and sold in Stratford CT in December 2015?
Stratford CT December 2015 Property Transfers
(as recorded in the Greater Fairfield County MLS as of 1/25/16)
The sweet spot for sales in December 2015 had a good showing in the $200K - $300K range same as last month. 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 3.51 months for the last three months, solidly in a seller's market. Inventory is needed!!
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 39% increase from last month and the second highest month for closed sales for the year.
The sales average went up slightly from last month and was the fifth highest month for the year.
Check out previous sales and averages here.
Looking for waterfront or homes near Long Island Sound? Check out Living in Lordship.
Date Source: Greater Fairfield County Multiple Listing Service -- January 25, 2016. No representation or warranty is made to the accuracy of this information.
Stratford CT Real Estate Market Report and Homes Sold December 2015