Wallingford CT Market Snapshot for March 2013

Here’s whats happening in the Wallingford CT housing market as of March 31, 2013:There are currently 161 single family homes for sale in Wallingford:

Low list price: $19,000
High list price: $1,350,000
Average list price: $349,460
Median list price: $329,900
Average Days on Market: 118
Homes sold on average for 95.6% of list price

There are 74 homes currently under contract, priced between $95,000 and $699,000. Based on the number of homes sold in March (20), it would take approximately 8 months to sell the current inventory.

As for condominiums, there are currently 64 condos for sale:

Low list price: $67,900
High list price: $529,574
Average list price: $244,129
Median list price: $224,900
Average Days on Market: 47
Condos sold on average for 97.8% of list price

There are currently 32 condos under contract, priced between $45,000 and $430,000. Based on the number of condos sold in March (7), it would take 9 months to sell the current inventory.

Wallingford home sales rose in March to 27 units, up from 24 in February.This was a 45% increase over March of 2012, but it was a 19% decrease from March of 2011. The average selling price for condos showed another healthy gain in March, rising to just over $238,000, while the average sale price for single family homes fell slightly to just over $334,000. Thirty year conventional mortgage rates fell back to 3.375%, while CHFA rates for first time home buyers remained unchanged at 2.75 percent.

Inventory levels rose 15.0% in March which, coupled with the increased sales, were enough to keep Wallingford firmly in the balanced market it entered in January, with just about 7.7 months of inventory now available. We’re hopeful that inventory and sales prices continue to rise as the year progresses, but we would not be surprised if interest rates begin to inch upwards again, so buyers should continue to do their homework and be ready to act quickly if you find the right home for you, while sellers should keep their homes in tip-top showing condition and priced well to attract well-qualified buyers.

Here is a chart showing annual home and condo sales in Wallingford in2013:

Click to see the full report

Below are highlight properties for Wallingford CT Market Snapshot for March 2013. See more at the full report:

Highlights

Maps & Local

Schools


	Status: Active 169 SOUTH MAIN ST, Wallingford, CT $699900 4 BEDROOMS 3 BATHROOMS [ 2 FULL, 1 HALF ] LISTING MLS ID: N335145 Listing Courtesy of: Pat Harriman
	Status: Active 21 BROADMEADOW RD #21, Wallingford, CT $495000 4 BEDROOMS 3 BATHROOMS [ 2 FULL, 1 HALF ] LISTING MLS ID: N335225 Listing Courtesy of: Pat Harriman
	Status: Active 172 GRIEB RD, Wallingford, CT $377900 4 BEDROOMS 3 BATHROOMS [ 2 FULL, 1 HALF ] LISTING MLS ID: N333366 Listing Courtesy of: Pat Harriman
	Status: Active 596 CENTER ST, Wallingford, CT $194900 3 BEDROOMS 2 BATHROOMS [ 2 FULL, 0 HALF ] LISTING MLS ID: N333948 Listing Courtesy of: Pat Harriman