North Haven CT Market Update for May 2012
Here’s the way the housing market is shaping up in North Haven as of May 31, 2012:
- Low list price: $114,900
- High list price: $1,499,000
- Average list price: $353,600
- Median list price: $296,950
- Average Days on Market: 64
- Homes sold on average for 96.7% of list price
There are 49 homes currently under contract, priced between $112,000 and $795,000. Based on the number of homes sold in May (15), it would take approximately 8 months to sell the current inventory.
- Low list price: $64,500
- High list price: $339,900
- Average list price: $179,487
- Median list price: $184,900
- Average Days on Market: 217
- Condos sold on average for 95.7% of list price
There are currently 5 condos under contract, priced between $175,000 and $256,900. Based on the number of condos sold in March (1), it would take 15 months 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 15% increase over April’s numbers, along with an insignificant rise in inventory levels. The total sales of 16 total units sold 56% below May of 2011, but an 11% drop from May 2010 when 18 total units sold. The number of properties under contract continued to increase, gaining 81% over the past 3 months, and the average sales price for single family homes remained steady at just under $342,000 for the month. Conventional mortgage rates are enjoying an extended stay below 4% (now at roughly 3.50%), and CHFA rates for first time home buyers have also remained at an even 3 percent for the past several weeks. 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)