North Haven CT Market Snapshot for October 2012
Here’s the way the housing market is shaping up in North Haven as of October 31, 2012:
- Low list price: $140,900
- High list price: $1,499,000
- Average list price: $368,247
- Median list price: $289,900
- Average Days on Market: 143
- Homes sold on average for 94.2% of list price
There are 40 homes currently under contract, priced between $115,000 and $779,000. Based on the number of homes sold in October (20), it would take approximately 5 months to sell the current inventory.
- Low list price: $59,900
- High list price: $299,900
- Average list price: $147,350
- Median list price: $123,200
- Average Days on Market: 112
- Condos sold on average for 95.0% of list price
There are currently 4 condos under contract, priced between $155,000 and $320,000. Based on the number of condos sold in October (2), it would take 4 months to sell the current inventory.
Here is a chart showing annual home and condo sales in North Haven so far in 2012:
After peaking in July, sales in North Haven have somewhat stabilized at around 20-22 total sales. October was unchanged from the prior month, but the numbers were exactly double those of October 2010 and 2011. Inventory levels have again declined slightly, the fifth straight month of declines, but because sales were unchanged from September, North Haven remaining in a normal seller’s market with just over 4.5 months of inventory available.
Conventional mortgage rates are still enjoying their lowest rates in years, and have now dropped to 3.125 percent. CHFA rates for first time home buyers remained unchanged at 2.75 percent.
This chart shows how homes in various price ranges are currently selling:
North Haven’s sweet spot in October was the $100,000 to $300,000 range, where 77% of the sales occurred. Even so, almost the entire inventory is in a seller’s market despite homes priced higher than $500,000 not being in much demand. It appears that current inventory and sales numbers will continue to decline as we head into the Winter market.
~North Haven Properties For Sale~
(zoom out to see more properties)
- North Haven CT Market Update for August 2012 (wallingfordwired.com)