MIDDLEBURY CT-REAL ESTATE MARKET REPORT for JULY 2015
What does the real estate market look like in Middlebury, CT? Real estate prices in Middlebury CT are back to where they were a year ago, with fewer days on market on average. Pending prices at this point are not keeping pace with sales prices, although those homes are on the market for a shorter period of time.
There are currently 99 Middlebury CT homes for sale, with an average listing price of $499,933, and a median listing price of $369,000.
There are 11 pending sales (under contract), with an average asking price of $281,118, a median asking price of $269,900, and the days on market before getting an acceptable offer averaging at 79 days.
13 homes were sold in Middlebury CT in the month of July, with an average sale price of $318,035, a median sale price of $320,000, and an average of 90 days on market before receiving an offer. By comparison, in July 2014, 12 homes were sold, with an average sale price of $319,950, a median sale price of $312,500, and an average of 109 days on market before receiving an offer. This year’s figures represent a .5% decrease in average sale prices, and a decrease of 17% in the number of days on market, from last year.
So, what does this all mean? The drop in pending sale prices without an increase in number of pending sales is a sign of caution for sellers thinking about putting your homes on the market. The best way to make sure that your home gets sold, if you do decide to put your home on the market, is to hire a competent real estate agent who knows the Middlebury CT market, will price your home based on recent market sales, and who will give you excellent advice on how to prepare your home to attract potential buyers.
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For further information about the Middlebury 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 Middlebury CT homes for sale.