Wallingford CT Market Update for May 2013

Here’s whats happening in the Wallingford CT housing market as of May 31, 2013:

There are currently 181 single family homes for sale in Wallingford:

  • Low list price: $19,000
  • High list price: $1,350,000
  • Average list price: $351,361
  • Median list price: $327,900
  • Average Days on Market: 72
  • Homes sold on average for 97.4% of list price

There are 83 homes currently under contract, priced between $33,000 and $699,000. Based on the number of homes sold in May (24), it would take approximately 8 months to sell the current inventory.

As for condominiums, there are currently 73 condos for sale:

  • Low list price: $74,900
  • High list price: $499,900
  • Average list price: $242,545
  • Median list price: $222,450
  • Average Days on Market: 68
  • Condos sold on average for 94.7% of list price

There are currently 32 condos under contract, priced between $45,000 and $470,000. Based on the number of condos sold in May (12), it would take 6 months to sell the current inventory.

Wallingford home sales rose in May to 36 units, up from 33 in April.This was a slight 6% increase over May of 2011, but a 25% decrease from May of 2012. The average selling price for condos was down slightly in May, falling to just under $230,000, while the average sale price for single family homes fell slightly to just over $342,000. Thirty year conventional mortgage rates have spiked recently, rising to 4% for a short time before rising again to 4.25%, while CHFA rates for first time home buyers have also risen for the first time in many months and now sit at 3 percent.

Inventory levels rose another 5.0% in May which,coupled with the slight increase in sales, were enough to keep Wallingford firmly in the balanced market it entered in January, with just a tad over 7 months of inventory now available. The real estate market is in full swing now and inventory and sales prices should continue to rise as the year progresses. Interest rates have now begun the upward trend that many predicted at the beginning of the year and may rise more before leveling off, so this should encourage buyers to see what’s on the market before rates rise any …

Click to see the full report

Below are highlight properties for Wallingford CT Market Update for May 2013. See more at the full report:
Highlights Maps & Local Schools
Status: Active
169 SOUTH MAIN ST, Wallingford, CT
$688000
4 BEDROOMS
3 BATHROOMS [ 2 FULL, 1 HALF ]
LISTING MLS ID: N335145
Listing Courtesy of: Pat Harriman

Status: Active
898 CHURCH ST, Wallingford, CT
$389900
0 BEDROOMS
0 BATHROOMS [ 0 FULL, 0 HALF ]
LISTING MLS ID: N333031
Listing Courtesy of: Pat Harriman

Status: Active
21 BROADMEADOW RD, Wallingford, CT
$479900
4 BEDROOMS
3 BATHROOMS [ 2 FULL, 1 HALF ]
LISTING MLS ID: N335382
Listing Courtesy of: Pat Harriman

Status: Active
4 LITTLE CT, Wallingford, CT
$485000
4 BEDROOMS
4 BATHROOMS [ 3 FULL, 1 HALF ]
LISTING MLS ID: N338185
Listing Courtesy of: Pat Harriman

See the Full Wallingford CT Market Snapshot for May 2013





Information valid as of June 24, 2013. Please contact us for the most current information and status of these properties.

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