Wallingford CT Market Update for May 2012

Wallingford CT Market Update for May 2012

21 Hickory Court, Wallingford CTHere’s the way the housing market is shaping up in Wallingford as of May 31, 2012:

There are currently 219 single family homes for sale in Wallingford:

  • Low list price: $49,900
  • High list price: $1,500,000
  • Average list price: $329,385
  • Median list price: $284,900
  • Average Days on Market: 106
  • Homes sold on average for 95.6% of list price

There are 83 homes currently under contract, priced between $40,000 and $579,000. Based on the number of homes sold in May (29), it would take approximately 8 months to sell the current inventory.

Condo on Tudor Lane, Wallingford CTAs for condominiums, there are currently 74 condos for sale:

  • Low list price: $46,900
  • High list price: $559,900
  • Average list price: $210,790
  • Median list price: $189,700
  • Average Days on Market: 88
  • Condos sold on average for 93.8% of list price

There are currently 23 condos under contract, priced between $79,900 and $469,000. Based on the number of condos sold in May (14), it would take 5 months to sell the current inventory.

Here is a chart showing annual home and condo sales in Wallingford so far in 2012: 

Wlallingford Sales May 2012

Wallingford home and condo sales showed significant gains in May: single family home sales were up by only 32% over April, while condo sales rose by 56% from the month before. The 29 single family sales for the month was exactly the same as May 2011, and up 53% from 2010 when only 19 total units sold. This is the third consecutive month of double digit gains for the Wallingford market, and while we’re not popping the champagne just yet it is an encouraging sign for real estate in Wallingford. The average selling price for condos was back under $200,000 after a one month stint above that mark, while the average sale price for single family homes was up slightly to just over $314,000. Conventional mortgage rates remained well below 4%, while CHFA rates for first time home buyers remained at their previous low of 3.00 percent. With the improvement in sales Wallingford is now in a balanced market after being in a normal buyer’s market last month, exactly the opposite of Meriden who slid into a normal buyer’s market in May after enjoying a balanced market in April. Indications are that June sales figures will most likely equal or exceed those of May.

~Wallingford Properties For Sale~

(zoom out to see more properties)

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  1. Pingback: Wallingford CT Market Update for June 2012 | Wallingford Wired

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