Meriden CT Market Snapshot for February 2013

by Harriman Real Estate on March 6, 2013

Meriden CT Market Snapshot for February 2013
Here’s how thee Meriden CT housing market looks as of February 28, 2013:

There are currently 167 single family homes for sale in Meriden:

Low list price: $32,000

High list price: $575,900

Average list price: $198,385

Median list price: $185,000

Average Days on Market: 84

Homes sold on average for 92.6% of list price

There are 89 homes currently under contract, priced between $8,000 and $449,000. Based on the number of homes sold in February (19), it would take approximately 9 months to sell the current inventory.

As for condominiums, there are currently 67 condos for sale:

Low list price: $29,900

High list price: $319,888

Average list price: $132,246

Median list price: $130,000

Average Days on Market: 275

Condos sold on average for 64.9% of list price

There are currently 16 condos under contract, priced between $30,000 and $280,000. Based on the number of condos sold in February(4), it would take 17 months to sell the current inventory.

February home sales took a hit in Meriden: single family sales were down by 35%, and condo sales fell 44% to only 4 units sold. The drop in home sales gave Meriden its worst February in the past 3 years, as this months numbers were 8% below February of 2011, and 21% worse than February of 2010. Meanwhile, inventory was mixed as single family homes lost 11 units while condos gained only 7, a net loss of 4 units total. Sales prices were also mixed, as single family homes rose by about 3%, but condos were off by 33%, mainly due to the majority of sales for the month being short sales and foreclosures which closed as a group 65% below list price.

The decrease in inventory and the lower sales numbers means Meriden slipped back even further into a normal buyers market with exactly 10 months of inventory. Even so, we still feel the best is yet to come for the Meriden real estate market as February is historically one of the slower sales months, and we look for the market to pick back up in March.

Interest rates for conventional loans remained at 3.50% for a 30 year note, and …

Click to see the full report

Below are highlight properties for Meriden CT Market Snapshot for February 2013. See more at the full report:
Highlights Maps & Local Schools
Status: Just Sold
239 SHERMAN AVE, Meriden, CT
$70000
0 BEDROOMS
0 BATHROOMS [ 0 FULL, 0 HALF ]
LISTING MLS ID: N329797
Listing Courtesy of: Pat Harriman

Status: Active
67 METACOMET DR, Meriden, CT
$1300
2 BEDROOMS
2 BATHROOMS [ 1 FULL, 1 HALF ]
LISTING MLS ID: N331822
Listing Courtesy of: Pat Harriman

Status: Pending
107 OLD STAGECOACH RD, Meriden, CT
$179900
3 BEDROOMS
2 BATHROOMS [ 2 FULL, 0 HALF ]
LISTING MLS ID: N332237
Listing Courtesy of: Pat Harriman

Status: Just Listed
478 BROWNSTONE RIDGE, Meriden, CT
$364900
3 BEDROOMS
3 BATHROOMS [ 3 FULL, 0 HALF ]
LISTING MLS ID: N334378
Listing Courtesy of: Pat Harriman

See the Full Meriden CT Market Snapshot for February 2013
Free List of Foreclosed Homes For SaleAvoid ForeclosureWhat is Your Home Worth?Short Sale Homes For Sale
Pat Harriman
Harriman Real Estate LLC
203-672-4499
pharriman@harrimanre.com












Information valid as of March 5, 2013. Please contact us for the most current information and status of these properties.
Enhanced by Zemanta
 
Search All Homes For Sale
Wallingford Homes for Sale
Homes Close to Where You Work
What is your home worth?
Avoid Foreclosure
Harriman Real Estate LLC
203-672-4499
pharriman@harrimanre.com
   

Leave a Comment

CommentLuv badge