Wallingford Market Update for December 2010
Here’s the way the housing market is shaping up in Wallingford as of December 31, 2010:
There are currently 161 single family homes for sale in Wallingford (down 9% from last month):
- Low list price: $109,900
- High list price: $895,000
- Average list price: $334,555
- Median list price: $289,900
- Average Days on Market: 63 (down 12% from last month)
- Homes sold on average for 96.7% of list price (up 3% from last month)
There are 34 homes currently under contract, priced between $89,900 and $999,900. Based on the number of homes sold in December (17), it would take approximately 9 months to sell the current inventory, down 10% from November.
As for condominiums, there are currently 76 condos for sale (down 17% from last month):
- Low list price: $64,900
- High list price: $574,900
- Average list price: $234,166
- Median list price: $209,900
- Average Days on Market: 159 (up 47% from last month)
- Condos sold on average for 96.8% of list price (up slightly from last month)
There are currently 17 condos under contract. Based on the number of condos sold in December (11), it would take 7 months to sell the current inventory, a decrease of 22% from November.
The following chart shows annual home and condo sales in Wallingford for year-to-date 2010:
Sales of single family homes remained stable for December, but was the fourth consecutive month without an increase. Condo sales were up marginally for a second consecutive month, while inventory levels for both segments continue to fall. Interest rates continue to inch upwards on a weekly basis, but are still in a good range for home buyers, and coupled with home prices that continue to fall this should be a good omen as we head into the Spring real estate market.
The following chart compares average days on market (ADOM), or how many days it took to sell a home or condo during the month, for the year to date:
Average days on market for both market segments again headed in opposite directions, with condos hitting a yearly high of 159 days, while single family homes dropped to 63 days, which helped to bring the average for the year down to 78 days.
For more market info or to inquire about our services, please call Harriman Real Estate at (203) 672-4499!
Data used was provided by the CTMLS (Connecticut Multiple Listing Service), and is considered reliable but not guaranteed.