Wallingford Market Update for April 2011
Here’s the way the housing market is shaping up in Wallingford as of April 30, 2011:
There are currently 216 single family homes for sale in Wallingford:
- Low list price: $55,900
- High list price: $895,000
- Average list price: $329,333
- Median list price: $299,900
- Average Days on Market: 102
- Homes sold on average for 95.1% of list price
There are 54 homes currently under contract, priced between $99,900 and $549,900. Based on the number of homes sold in April (21), it would take approximately 10 months to sell the current inventory.
As for condominiums, there are currently 87 condos for sale:
- Low list price: $74,000
- High list price: $574,900
- Average list price: $233,114
- Median list price: $212,900
- Average Days on Market: 162
- Condos sold on average for 95.3% of list price
There are currently 28 condos under contract, priced between $74,900 and $389,000. Based on the number of condos sold in April (6), it would take 15 months to sell the current inventory.
Here is a chart showing annual home and condo sales in Wallingford so far in 2011:
The number of homes sold in April fell in both categories after posting large gains the prior month. Buyer activity remains high however, and the number of properties under deposit has risen for the third consecutive month. Average listing and selling prices are also on an upward trend. We project that these trends will continue and that home sales will continue to rise as summer approaches.
The following chart compares average days on market, or how many days it took to sell a home or condo for the first three months of 2011:
Average days on market for all properties have been trending downward every month so far this year, which is a good sign. Attractive interest rates and declining home prices should continue to stimulate the local market for the next few months, but inventory levels need to come down before we see any sustained improvement.
Wallingford Properties For Sale
(zoom out to see more properties)
Data used was provided by the CTMLS (Connecticut Multiple Listing Service), and is considered reliable but not guaranteed.