SOUTHBURY CT-REAL ESTATE MARKET REPORT for JUNE 2015
What does the real estate market look like in Southbury CT? Real estate prices in Southbury CT appear to be rebounding, or at least are trying to. Average sale prices have climbed above where they were at this time last year, even with a few dips in price along the way. The number of homes that have sold and that are pending is encouraging along with the increase in home values, but sellers in Southbury looking to place their homes on the market should take the good news with a grain of salt, as buyers continue to wait for more than 3 months to make offers and that there are more than enough homes for sale in Southbury CT to last for over a year.
There are 182 Southbury CT homes for sale, with an average listing price of $481,522 and a median listing price of $432,200.
There are 44 pending sales (under contract), with an average asking price of $424,095, a median asking price of $392,000, and an average of 109 days on market before accepting an offer.
27 homes were sold in Southbury CT in the month of June, with an average sale price of $377,361, a median sale price of $339,000, and an average of 115 days on market before an offer was accepted. By comparison, in June 2014, 19 homes were sold in Southbury CT, with an average sale price of $380,653, a median sale price of $386,500, and an average of 68 days on market before accepting an offer. This year’s figures represent a .86% decrease in average sale prices, and a 69% increase in average days on market, from last year.
So, what does this all mean? The increase in sale prices has prompted many sellers to put their homes on the market, right when buyers are consistently demonstrating that they are willing to wait for the right home to come on the market, the home that has all the value that they are looking for. As prices continue to rise, sellers, you can expect to wait a little longer to get that acceptable offer. The best way to get an offer quickly is to consult with a realtor who knows the real estate market in Southbury CT, will price your home based on market conditions, and who will help you prepare your home to attract buyers so they will make that offer right away.
Click on Southbury CT Real Estate – Market Updatesto see prior Southbury CT market reports.
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For further information about the Southbury CT market and to determine if this is the right time to sell, call me at (203) 558-7463 to receive a free home evaluation and a list of tips that will help you prepare your home for sale. I look forward to discussing with you Southbury CT homes for sale.