Shelton CT single family home sales were down 22% as compared to the same period last year.
Listing and closed sales averages each took a 3% dip as well with a the median decreasing 18%.
Days on the market went up 19%.
Inventory was up 23% from last month, which with lower sales, raised up the absorption rate to 9.71 months, meaning it would take 9.71 months to sell off the present inventory of 165 homes. This is statistically a buyers market.
Going forward, there are 58 homes under deposit and 24 homes pending. Some good news there!
Shelton CT April 2015 Homes Sold
as recorded in the Greater Fairfield County MLS
Where was the sweet spot for sales in April? Down into the $200K - $300K range in Shelton. The $300K - $400K is historically the most popular range.
April recorded the lowest number of sales in the last year. Not a good month all the way around.
The average sales prices throughout the last year will provide buyers and sellers with an even better understanding of Shelton's present and past market. Fortunately, there was ONE bright spot in April with the sales average higher than the previous two months.
The absorption TREND, which shows the number of months it would take to sell the entire inventory at the same pace, came in at 8.53 months for the last three months. As mentioned previously, with inventory up combined with lower sales numbers, the absorption rate is solidly in buyer's market territory (over 6+ months of inventory)
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.
Thinking of selling? Get a complimentary free market analysis for your Shelton home.
The success in selling your house in Shelton 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 your home effectively in today's market. Get an exceptional marketing plan for your money.
Sellers: Please read Biggest Home Seller Mistakes if you are thinking of listing your home.
Date Source: Greater Fairfield County Multiple Listing Service -- May 22, 2015. No representation or warranty is made to the accuracy of this information.
Shelton CT Real Estate Market Report and Homes Sold - April 2015