Stratford CT Single family home sales in January 2015 were down 16% as compared to January 2014 sales.
Listing and closed price averages INCREASED 6% and 5% respectively. The median for the month was UP 4%.
The absorption rate for the month went up to 10.48 months, meaning if there was no new inventory, it would take 10.48 months to sell off the active 220 listings.
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Moving forward, there are 48 houses under deposit and 55 pending sales (under contract). That's a respectable increase from last month.
Which houses attracted buyers and sold in Stratford CT in January 2015?
Stratford CT January 2015 Property Transfers
(as recorded in the Greater Fairfield County MLS as of 2/16/15)
The sweet spot for sales in January 2015 went down into the $100K-$200K range with 52% of sales. 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 7.67 months for the last three months. Lower sales in the colder months has pushed this number further into a 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 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.
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The sales average for the month ended up at its lowest point in the last year as most sales fell in the $100K - $200K range where the $200K - $300K range is normally the high point for the month.
Check out previous sales and averages here.
Date Source: Greater Fairfield County Multiple Listing Service -- February 16, 2015. No representation or warranty is made to the accuracy of this information.
Stratford CT Real Estate Market Report and Homes Sold January 2015