Wallingford CT Market Update for August 2013

Here’s whats happening in the Wallingford CT housing market as of August 31,2013:There are currently 194 single family homes for sale in Wallingford:

Low list price: $19,000
High list price: $1,290,000
Average list price: $338,369
Median list price: $299,900
Average Days on Market: 104
Homes sold on average for 95.9% of list price

There are 78 homes currently under contract, priced between $79,000 and $574,000. Based on the number of homes sold in August (29), it would take approximately 7 months to sell the current inventory.

As for condominiums, there are currently 82 condos for sale:

Low list price: $53,900
High list price: $579,500
Average list price: $223,694
Median list price: $209,900
Average Days on Market: 154
Condos sold on average for 94.9% of list price

There are currently 24 condos under contract, priced between $70,000 and $485,000. Based on the number of condos sold in August (7), it would take 12 months to sell the current inventory.

Wallingford home sales were down slightly in August losing, 2 units from July. Still, this was a 13% increase over August of 2012, but a 23% decrease from August of 2011. The average selling price for condos was up slightly in August, to just over $212,000, while the average sale price for single family homes dipped slightly to just over $324,000. After yoyoing between 4.375% and 4.5% for the past several weeks, thirty year conventional mortgage rates finally stabilized a bit and settled at 4.25%, while CHFA rates for first time home buyers rose to 3.5 percent.

Inventory levels dipped a little in April which, coupled with the decreased sales, were enough to keep Wallingford firmly in the balanced market it entered in January, with just a tad over 7.5 months of inventory now available. The real estate market is still healthy, but as predicted, interest rates have risen over the past few months, 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 …

Click to see the full report

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

Highlights

Maps & Local

Schools


	Status: Active 180 COOK HILL RD, Wallingford, CT $4000 5 BEDROOMS 3 BATHROOMS [ 3 FULL, 0 HALF ] LISTING MLS ID: N337071 Listing Courtesy of: Vicki Stone
	Status: Active 26 DUNCAN ST, Wallingford, CT $254900 4 BEDROOMS 2 BATHROOMS [ 2 FULL, 0 HALF ] LISTING MLS ID: N341128 Listing Courtesy of: Pat Harriman
	Status: Active 898 CHURCH ST, Wallingford, CT $379900 0 BEDROOMS 0 BATHROOMS [ 0 FULL, 0 HALF ] LISTING MLS ID: N339090 Listing Courtesy of: Pat Harriman
	Status: Just Listed 10 CHERYL AVE, Wallingford, CT $179900 3 BEDROOMS 1 BATHROOMS [ 1 FULL, 0 HALF ] LISTING MLS ID: N341873 Listing Courtesy of: Emilia Menna-Erdmann