North Haven CT Market Update for June 2012
Here’s the way the housing market is shaping up in North Haven as of June 30, 2012:
- Low list price: $144,500
- High list price: $1,499,000
- Average list price: $357,989
- Median list price: $289,900
- Average Days on Market: 71
- Homes sold on average for 92.9% of list price
There are 52 homes currently under contract, priced between $112,000 and $795,000. Based on the number of homes sold in June (19), it would take approximately 6 months to sell the current inventory.
- Low list price: $67,000
- High list price: $329,900
- Average list price: $191,064
- Median list price: $188,900
- Average Days on Market: 0 (No sales)
- Condos sold on average for 0.0% of list price (No sales)
There are currently 6 condos under contract, priced between $64,500 and $256,900. Based on the number of condos sold in June (0), it would take forever to sell the current inventory.
Here is a chart showing annual home and condo sales in North Haven so far in 2012:
Sales in North Haven saw a third consecutive month of increases, beating May by 20% even though condo sales fell to zero; however, 2012 sales figures are still 17% under 2011 and 10% under 2010. One good piece of news is that current sales are only 24% off the best performing month in the last two years, which was May of 2011 (while that sounds like a lot, it’s only 6 total sales!). Another good piece of news is that the number of properties under contract has increased every month so far this year, gaining 100% since January. Inventory levels have declines slightly, and combined with the increase in sales means that North Haven remains in a balanced real estate market with just over 7 months of inventory available.
Conventional mortgage rates are enjoying their lowest rates in years, now at roughly 3.25%, and CHFA rates for first time home buyers are also in uncharted territory at an unprecedented 2.75 percent. It’s hard to tell if or when these rates will start to rise, but as long as they remain at these historically low levels and home prices remain stable, sales should continue to improve in North Haven, as well as Wallingford and Meriden.
~North Haven Properties For Sale~
(zoom out to see more properties)
- North Haven CT Market Update for May 2012 (wallingfordwired.com)