|Here’s whats happening in the Meriden CT housing market as of January 31, 2014:There are currently 218 single family homes for sale in Meriden:Low list price: $19,900
High list price: $359,000
Average list price: $176,905
Median list price: $170,500
Average Days on Market: 78
Homes sold on average for 96.4% of list price
There are 69 homes currently under contract, priced between $35,000 and $449,000. Based on the number of homes sold in January (20), it would take approximately 11 months to sell the current inventory.
As for condominiums, there are currently 73 condos for sale:
Low list price: $30,000
There are currently 25 condos under contract, priced between $20,000 and $235,000. Based on the number of condos sold in January (5), it would take 15 months to sell the current inventory.
Meriden home sales started 2014 at 25 units sold, which represents adrop of 7% from both the previous month and January of 2012, but an increase of 9.4% over January of 2013.It was also the lowest level of sales since February of 2013. Maybe the polar vortex is largelyto blame? Thirty year conventional mortgage rates have maintained a 4.25% for some time now, while CHFA rates for first time home buyers have also been stable for several weeks and now sit at 3.50 percent.
Inventory levels dropped 7.0% in January from the previous month and now stand at their lowest levels since March of 2013. Because of the drop in sales and inventory, Meriden has regressed into a normal buyer’s market with just over 11 months of inventory now available The real estate market …
|Below are highlight properties for Meriden CT Market Snapshot for January 2014. See more at the full report:|
|See the Full Meriden CT Market Snapshot for January 2014|
|Information valid as of March 1, 2014. Please contact us for the most current information and status of these properties.|