North Haven CT Market Snapshot for April 2013

Here’s the way the housing market is shaping up in North Haven as of April 30, 2013:

North Haven Single Family HomeThere are currently 105 single family homes for sale in North Haven:

  • Low list price: $64,900
  • High list price: $2,350,000
  • Average list price: $436,126
  • Median list price: $369,000
  • Average Days on Market: 83
  • Homes sold on average for 95.2% of list price

There are 55 homes currently under contract, priced between $100,000 and $800,000. Based on the number of homes sold in April (22), it would take approximately 5 months to sell the current inventory.

North Haven CondoAs for condominiums, there are currently 11 condos for sale:

  • Low list price: $64,900
  • High list price: $299,900
  • Average list price: $195,680
  • Median list price: $209,900
  • Average Days on Market: 832
  • Condos sold on average for 90.2% of list price

There are currently 6 condos under contract. Based on the number of condos sold in April (1), it would take 11 months to sell the current inventory.

Here is a chart showing year-to-date home and condo sales in North Haven for 2013:

North Haven Home Sales YTD 2013

Home sales in North Haven jumped by 130% in April, from 10 to 23, which stopped 5 consecutive months of decline. Compared to prior years, the numbers were up 64% from April 2012, and up 35% from April 2011. Inventory levels are also at their highest levels of the year, gaining about 10% from March. The big jump in sales and inventory levels were enough to improve the North Haven market to a normal seller’s market with just over 5 months of inventory available.

Conventional mortgage rates are still low, but after a short stay at 3.375% they have now risen to 3.625 percent. CHFA rates for first time home buyers remained unchanged at 2.75 percent. We have seen a recent report from the National Association of Realtors, however, that indicates that sub-four percent loans may be gone by summer and could hit 4.5% by 2014. If this prediction turns out to be true, then now is surely the time for buyers to get serious in their home search in order to lock in the best rates.

This chart shows how homes in various price ranges are currently selling:

North Haven Home Sales by Price Point in April 2013

North Haven’s sweet spot in April was again the $200,000 to $400,000 range, where 70% of the sales and 56% of the listings were located. The average home sold in 85 days and 61% sold in 90 days or less..

~North Haven Properties For Sale~

 

(zoom out to see more properties)

 

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