North Haven CT Market Snapshot for January 2013
Here’s the way the housing market is shaping up in North Haven as of January 31, 2013:
- Low list price: $124,900
- High list price: $1,499,000
- Average list price: $385,305
- Median list price: $327,500
- Average Days on Market: 67
- Homes sold on average for 95.2% 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 January (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: $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 no condos under contract. Based on the number of condos sold in January (1), it would take 10 months 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 lost another 2 units from December, down to 12 from 14. Compared to prior years, however, the numbers were up 44% from January 2010, and up 30% from January 2011. Also, the trend over the past two years has been on the rise, an encouraging sign. Inventory levels were virtually unchanged from December, having gained just a single unit. The stable sales and inventory levels weren’t enough to keep North Haven from dropping into a balanced market; there are now just over 7 months of inventory available.
Conventional mortgage rates are still low, but have now risen for the second consecutive month and are now at 3.50 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 58% of the sales and 59% of the listings were located. The market dropped into a balanced market after 6 month’s in a seller’s market, but the stay will hopefully be short-lived.
~North Haven Properties For Sale~
(zoom out to see more properties)