Meriden CT Market Update for March 2012

Meriden CT Market Update for March 2012

Meriden Single Family HomeHere’s the way the housing market is shaping up in Meriden as of March 31, 2012:

There are currently 217 single family homes for sale in Meriden:

  • Low list price: $35,000
  • High list price: $575,900
  • Average list price: $196,456
  • Median list price: $184,999
  • Average Days on Market: 72
  • Homes sold on average for 94.1% of list price

There are 114 homes currently under contract, priced between $20,000 and $369,900. Based on the number of homes sold in March (28), it would take approximately 8 months to sell the current inventory.

58 Leonard Street, Meriden CTAs for condominiums, there are currently 93 condos for sale:

  • Low list price: $34,900
  • High list price: $274,900
  • Average list price: $126,690
  • Median list price: $129,900
  • Average Days on Market: 62
  • Condos sold on average for 93.8% of list price

There are currently 16 condos under contract, priced between $43,000 and $269,900. Based on the number of condos sold in March (9), it would take approximately 10 months to sell the current inventory.

Here is a chart comparing annual home and condo sales in Meriden for the year-to-date:

Meriden Sales March 2012

March saw some good improvement in the Meriden housing market; sales were up by 54% over the previous month, and by 32% over March of 2011. The average sale price for single family homes was up from the prior month, but condos fell; single families rose slightly to $184,826 while condos fell to $118,797. Interest rates for conventional loans once again fell below the 4% range after a brief climb above it, and CHFA rates (for first time home buyers) also fell back to its yearly low of 3.125 percent.  Meriden single family home sales rose to 28 units from 20 in February, and condo sales were also up, rising by 125% to 9 units sold from 4 the previous month. The improvement in sales for March moved Meriden into a balanced market, with just over 8 months of home inventory. Market activity in April has been just as hot as it was in March, so we anticipate that sales should be very close to March levels or even exceed them.

Meriden Properties For Sale

(zoom out to see more properties)

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  1. Pingback: Canada’s housing market cools - Alternative News London Ontario - News, sports, entertainment, business, travel, homes and auto sections containing features of interest in North America

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