WOLCOTT CT-REAL ESTATE MARKET REPORT forMAY 2015
What does the real estate market look like in Wolcott CT?Buyers are snapping up properties in Wolcott CT, with more than a third of the current houses for sale under contract. Sellers also have a reason to be happy, as average sale prices are up from last year.
There are 106Wolcott CT homes for sale, with an average listing price of $304,367 and a median listing price of $299,900.
There are 60 pending sales (under contract), with an average asking price of $221,341, a median asking price of $216,950, and an average of 75 days on market before receiving an acceptable offer.
16homes were sold in Wolcott CT in the month of May, with an average sale price of $246,575, a median sale price of $264,950 and an average of 126 days on market before receiving an offer. By comparison, in May 2014, 14homes were sold in Wolcott with an average sale price of $211,825,a median sale price of $187,500, and an average of 89 days on market before receiving an offer.
So, what does this all mean?The data shows that Wolcott CTis moving towards a balanced market, but not as rapidly as buyers and sellers would hope. With average sale prices being higher and days on market being much longer for sold properties compared to last year, sellers have to be mindful that buyers are looking for value in the homes they are seeking to purchase and are willing to wait a bit longer for a home if they don’t see the value in the current offerings. But the fact that the number of pending homes is way above the normal average at this time of the year and have been on the market for less time than those properties that have sold is also a sign for buyers to act quickly on those properties that remain.
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© William James Walton, Sr. Market Report data provided by CTMLS. All data is accurate but not guaranteed at time of publication.