North Haven CT Market Snapshot for February 2013
Here’s the way the housing market is shaping up in North Haven as of February 28, 2013:
- Low list price: $114,900
- High list price: $1,499,000
- Average list price: $390,158
- Median list price: $326,200
- Average Days on Market: 104
- Homes sold on average for 96.2% of list price
There are 47 homes currently under contract, priced between $90,000 and $600,000. Based on the number of homes sold in February (11), it would take approximately 7 months to sell the current inventory.
- Low list price: $64,900
- High list price: $299,900
- Average list price: $188,567
- Median list price: $189,500
- Average Days on Market: 0
- Condos sold on average for 0.0% of list price (no sales)
There is currently 1 condo under contract. Based on the number of condos sold in February (0), it would take forever to sell the current inventory.
Here is a chart showing year-to-date home and condo sales in North Haven for 2013:
Home sales in North Haven remained almost exactly the same as in January, losing only the one sale on the condo side. Compared to prior years, the numbers were down just 10% from January 2010, and unchanged from January 2011. Also, the trend over the past two years remains on the rise, an encouraging sign. Inventory levels were up slightly from January, having gained five units. The stable sales and inventory levels were enough to keep North Haven in a balanced market; there are now just over 8 months of inventory available.
Conventional mortgage rates are still low, but have now risen again and are now at 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’s sweet spot in January was the $200,000 to $400,000 range, where 73% of the sales and 61% of the listings were located. The market remains in a balanced market for the second straight month after 6 month’s in a seller’s market, but we anticipate improvement a Spring approaches.
~North Haven Properties For Sale~
(zoom out to see more properties)
- North Haven CT Market Snapshot for January 2013 (wallingfordwired.com)
- North Haven Market Snapshot for December 2012 (wallingfordwired.com)