Wallingford CT Market Update for June 2012
Here’s the way the housing market is shaping up in Wallingford as of June 30, 2012:
- Low list price: $40,000
- High list price: $1,500,000
- Average list price: $327,075
- Median list price: $288,450
- Average Days on Market: 101
- Homes sold on average for 95.4% of list price
There are 73 homes currently under contract, priced between $40,000 and $579,000. Based on the number of homes sold in June (33), it would take approximately 7 months to sell the current inventory.
- Low list price: $55,000
- High list price: $519,000
- Average list price: $2224,688
- Median list price: $194,900
- Average Days on Market: 90
- Condos sold on average for 96.3% of list price
There are currently 12 condos under contract, priced between $79,900 and $334,900. Based on the number of condos sold in June (14), it would take 6 months to sell the current inventory.
Here is a chart showing annual home and condo sales in Wallingford so far in 2012:
Wallingford home and condo sales held their own in June: single family home sales were up by only 14% over May but they were 38% better than June 2011 and virtually unchanged from June 2010, while condo sales were down 7% from the month before, unchanged from June of 2011, but down 30% from June 2010. The average selling price for condos rose to $216,000, while the average sale price for single family homes was fell slightly to just over $312,000. Thirty year conventional mortgage rates fell to an unheard of 3.25%, while CHFA rates plummeted to a new low of 2.75 percent, which should be music to the ears of first time home buyers who may have been watching and waiting before buying.
Even with a slight increase in inventory, the small improvement in sales ensures that Wallingford remains in the balanced market it reached last month, with just over 6 months of homes available. Indications are that July sales figures will most likely stabilize at lower levels than those seen in June.
~Wallingford Properties For Sale~
(zoom out to see more properties)
- Wallingford CT Market Update for May 2012 (wallingfordwired.com)