North Haven CT Market Update for February 2012
Here’s the way the housing market is shaping up in North Haven as of February 29, 2012:
- Low list price: $142,500
- High list price: $1,499,000
- Average list price: $363,754
- Median list price: $291,411
- Average Days on Market: 95
- Homes sold on average for 93.5% of list price
There are 27 homes currently under contract, priced between $165,000 and $675,000. Based on the number of homes sold in February (10), it would take approximately 10 months to sell the current inventory.
- Low list price: $67,900
- High list price: $279,900
- Average list price: $162,871
- Median list price: $193,500
- Average Days on Market: 14
- Condos sold on average for 97.1% of list price
There are currently 2 condos under contract, priced between $169,900 and $175,000. Based on the number of condos sold in February (1), it would take 7 months to sell the current inventory.
Here is a chart showing annual home and condo sales in North Haven so far in 2012:
This month marks our first look at the North Haven real estate market, and going forward we’ll include it every month alongside our Wallingford and Meriden reports.
Like its neighbors to the north on Route 5, North Haven saw little movement in its inventory levels for February, gaining one unit each in single family homes and condos. Sales were exactly the same as January, with 10 houses and 1 condo sold in each month. The total sales of 11 units was a 10% improvement over February of 2011 when 10 units sold. March 2011 was even worse as only 8 units sold, which doesn’t bode well for March 2012 numbers, especially if you look at the numbers for Wallingford and Meriden to begin the year. The sales in these communities almost always outpace those in North Haven, and they were both down considerably in February. With the market relatively stable here, it’s a safe bet that the results for March won’t be enough to nudge the market out of the normal buyer’s market it’s been in for the past two months. Conventional mortgage rates are now back above 4% and rising, but CHFA rates for first time home buyers remained at 3.25 percent. It should only be a matter of time before those rates also begin to rise, making buying a home less attractive than it already is.
~North Haven Properties For Sale~
(zoom out to see more properties)