Wallingford CT Market Snapshot for February 2014

Here’s whats happening in the Wallingford CT housing market as of February 28, 2014:There are currently 165 single family homes for sale in Wallingford:

  • Low list price: $32,900
  • High list price: $1,299,000
  • Average list price: $336,254
  • Median list price: $304,900
  • Average Days on Market: 85
  • Homes sold on average for 95.8% of list price

There are 52 homes currently under contract, priced between $55,000 and $749,000. Based on the number of homes sold in February (11), it would take approximately 15 months to sell the current inventory.

As for condominiums, there are currently 69 condos for sale:

  • Low list price: $64,000
  • High list price: $579,500
  • Average list price: $204,176
  • Median list price: $184,900
  • Average Days on Market: 115
  • Condos sold on average for 92.3% of list price

There are currently 20 condos under contract, priced between $75,000 and $424,000. Based on the number of condos sold in February (6), it would take 12 months to sell the current inventory.

Wallingford home sales tumbled to only 17 units sold in February, the lowest sales level in two years and a trend we’ve seen in many areas recently, probably due in part to the horrible weather we experienced last month. Thirty year conventional mortgage rates yoyo-ed a bit over the past 30 days, starting at 4.25%then going to 4.375% where they’re at now, while CHFA rates for first time home buyers have remained stable at 3.50 percent.

Inventory levels rose by 11.0% in February and are still at their lowest levels in two years. The drop in sales, combined with the rise in available inventory, has put Wallingford into an extreme buyer’s market with just over 13 months of inventory now available, up by more than double from last month. The real estate market is still getting busier as temperatures rise though, so we are still predicting a good year for the Wallingford housing market, and March should see some good improvement. Interest rates were predicted late last year to begin a slow rise into the 5% range, but so far they have remained stable so this should encourage buyers to see what’s on …

Click to see the full report

Below are highlight properties for Wallingford CT Market Snapshot for February 2014. See more at the full report:
Highlights Photos Maps & Local Schools
Status: Non MLS Listing
26 DUNCAN ST, Wallingford, CT
$249900
4 BEDROOMS
2 BATHROOMS [ 2 FULL ]
LISTING MLS ID: N341128
Listing Courtesy of: Pat Harriman

Status: Active
10 CHERYL AVE, Wallingford, CT
$179900
3 BEDROOMS
1 BATHROOMS [ 1 FULL ]
LISTING MLS ID: N341873
Listing Courtesy of: Emilia Menna-Erdmann

Status: Active
538 PILGRIM HBR #538, Wallingford, CT
$249900
2 BEDROOMS
3 BATHROOMS [ 2 FULL, 1 HALF ]
LISTING MLS ID: N345824
Listing Courtesy of: CT Property Sisters

Status: Just Listed
289 HIGHLAND AVE, Wallingford, CT
$300000
4 BEDROOMS
2 BATHROOMS [ 2 FULL ]
LISTING MLS ID: N347220
Listing Courtesy of: Christine Zygmont-Ross

See the Full Wallingford CT Markeet Snapshot for February 2014




Information valid as of March 31, 2014. Please contact us for the most current information and status of these properties.

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