Meriden CT Market Update for February 2012

Here’s the way the housing market is shaping up in Meriden as of February 29, 2012:

There are currently 211 single family homes for sale in Meriden:

• Low list price: $46,350
• High list price: $575,900
• Average list price: $195,035
• Median list price: $179,900
• Average Days on Market: 77
• Homes sold on average for 91.8% of list price

There are 93 homes currently under contract, priced between $15,000 and $314,900. Based on the number of homes sold in February (20), it would take approximately 11 months to sell the current inventory.

As for condominiums, there are currently 86 condos for sale:

• Low list price: $43,000
• High list price: $274,900
• Average list price: $126,622
• Median list price: $129,900
• Average Days on Market: 42
• Condos sold on average for 96.5% of list price

There are currently 16 condos under contract, priced between $45,900 and $269,900. Based on the number of condos sold in February (4), it would take approximately 22 months to sell the current inventory.

Here is a chart comparing annual home and condo sales in Meriden for the year-to-date:

While the number of condos for sale in Meriden stayed relatively unchanged in February, the inventory of single family homes dropped almost 8%, from 228 to 211. The average sale price for both condos and single family homes was up from the prior month; single families rose slightly to $179,062 while condos climbed sharply to $122,127. Interest rates for conventional loans remain below jumped above the 4% range for the first time since last October, and CHFA rates (for first time home buyers) remained at 3.250 percent.  Meriden single family home sales fell to 20 units from 25 in January, and this was down 13% from February of 2011 as well. Condo sales were up, however, rising to 4 units sold from 3 the previous month but down from 5 in February of 2011. Meriden remained in a normal buyer’s market, with just under 12 months of home inventory. Total sales in Meriden were down 14% for the month, confirming last month’s prediction of less than stellar sales numbers; however, sales activity in March has been a little more lively than the first two months of the year and we’re confident that the month will end on a high note. The unusually warm weather has brought out potential buyers in large numbers, and we feel this is a sign of good things to come in the coming months.

Meriden Properties For Sale

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Related articles

• Meriden CT Market Update for January 2012 (wallingfordwired.com)
• Meriden Market Update for December 2011 (wallingfordwired.com)
• Meriden Market Update for November 2011 (wallingfordwired.com)

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Meriden CT Market Update for February 2012

650,000 daffodils.

Over 100,000 attendees.

Two days.

One stupendous event!

The 34th Annual Meriden Daffodil Festival in Hubbard Park is fast approaching and promises to be bigger and better than ever, with over 35 musical acts scheduled to perform this year, with plenty of food, games, rides and activities on hand for everyone. The two day event kicks off on Saturday, April 28th and ends on Sunday, April 29th, but several activities are scheduled to take place before opening day, including a fishing derby to be held on April 21st from 10am to 11:30am, and a tag sale on the same day from 9am to 2pm, rain or shine.

The abnormally warm weather we’ve had recently is threatening to put a damper on the thousands of daffodils that bloom in the park, but not the festivities. The main event kicks off at 10:00 AM on the 28th, followed by the Daffodil Parade at 11:30 AM. The festivities continue throughout the day until a fireworks display at 8:30 PM leads to a 9:00 PM closing, then pick up again Sunday morning at 10:00 AM and run until the festival closes at 5:00 PM. This year’s festival features something for the entire family: plenty of good food and drink in the Silver Fork Food tent; a juried craft fair featuring over 100 of the area’s most talented crafters; musical entertainment featured in 3 venues: The Jeff Crooms Welcome Stage, the Food Tent stage, and the Band Shell stage; and a number of fun activities for the kids, including jugglers, a martial arts show, temporary tattoos, face painting, ice sculpting, a magician, a yo-yo demonstration, and much more.

The list of musicians who will be playing this year is bigger than ever and sports some of the area’s best known and successful acts, including festival stalwarts River City Slim & The Zydeco Hogs and The River Street Band, plus other acts including The Manchurians, Boxxcutter, anad Burrito Betty. A new addition to this year’s event is a trio of pre-teens who have been taking the local music scene by storm, The Foresters. For a full list of scheduled activities and entertainment, head to the Daffodil Fest web site.

There will be no on-site parking at the event; however, shuttle buses will be in service to transport patrons to and from four designated parking areas: the Westfield Meriden shopping center (JC Penney/Sears deck), Platt High School, Wilcox Technical School, and The Hub at the intersection of State and Pratt Streets. The shuttle service will run from 8:00 AM to 8:00 PM on Saturday, and 8:00 AM to 5:00 PM on Sunday.

There is no admission fee, no parking fee, and no shuttle bus fee. Tickets for all the food vendors and amusements must be purchased at the ticket booths inside Hubbard Park. For more information about scheduled attractions and events, head over to the festival web site atwww.daffodilfest.com, call the Daffodil Hotline at (203) 630-4259, or email them at info@daffodilfest.com.

Come on out and have some fun!

Post from: Wallingford Wired©2009 by Pat & Wayne Harriman

Hubbard Park Hosts 34th Meriden Daffodil Festival

Meriden CT Market Update for January 2012

Here’s the way the housing market is shaping up in Meriden as of January 31, 2012:

There are currently 228 single family homes for sale in Meriden:

• Low list price: $46,350
• High list price: $575,900
• Average list price: $189,623
• Median list price: $169,900
• Average Days on Market: 104
• Homes sold on average for 93.7% of list price

There are 66 homes currently under contract, priced between $15,000 and $329,000. Based on the number of homes sold in January (25), it would take approximately 9 months to sell the current inventory.

As for condominiums, there are currently 87 condos for sale:

• Low list price: $43,000
• High list price: $274,900
• Average list price: $123,980
• Median list price: $119,900
• Average Days on Market: 80
• Condos sold on average for 90.9% of list price

There are currently 17 condos under contract, priced between $30,000 and $266,900. Based on the number of condos sold in January (3), it would take approximately 29 months to sell the current inventory.

Here is a chart comparing annual home and condo sales in Meriden for the year-to-date:

There was little change in the Meriden home inventory in January, as single family homes gained 2 units to 228 (compared to 238 in January of 2011), while condos fell 5 units to 87 available properties, just one off the 88 units available a year ago. The average sale price for both condos and single family homes fell to their lowest levels since last Fall, $177,639 for homes and $112,735 for condos. Interest rates for conventional loans remain below the 4% range and CHFA rates (for first time home buyers) are still at 3.250%.  Meriden single family home sales fell to 25 units from 31 in December, but was up 56% over January of 2011. Condo sales took a beating, however, falling to just 3 units sold from 8 the previous month but up from 4 in January of 2011. While there was minimal change in the inventory or in units sold,it was enough to push Meriden’s market into a normal buyer’s market, with about 10 months of home inventory. We had hoped for an increase in sales activity in January instead of a 30% drop from last month, but it is 25% better than last January so we’ll take that and be happy!  At this point, we’re not holding out for a good February since whatever closes this month will be what went under contract in December during the peak of the holiday season.

Meriden Properties For Sale

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Related articles

• Meriden Market Update for December 2011 (wallingfordwired.com)
• Meriden Market Update for November 2011 (wallingfordwired.com)
• Meriden CT Market Update for October 2011 (wallingfordwired.com)

Post from: Wallingford Wired©2009 by Pat & Wayne Harriman

Meriden CT Market Update for January 2012

Great home! Four bedrooms, remodeled kitchen, formal dining room, spacious living room with fireplace & French doors. Two bedrooms and full bath on first and second floor, finished lower level, updated windows, roof and furnace, deck overlooking yard. Garage under. For more details or to schedule an appointment, please call listing agent Pat Harriman at (203) 605-3873 today!

Storybrook Brick Cape on corner lot.

• Home
• Photos
• Local
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Courtesy:

Harriman Real Estate LLC

203-672-4499

pharriman@harrimanre.com

Licensed In:
CT

37 LAUREL HTS

Meriden, CT 06451

Bedrooms: 4

Bathrooms : 2 (2 full)

List Price: $164,900

Living Area Approx :
1565

This is a home where memories are made! Charming storybook brick Cape located on a corner lot. As you step inside, you are greeted by a foyer with French doors to the living room. The living room is spacious, with hardwood floors and a stone front fireplace. There is a formal dining room with hardwood floors and plenty of windows for natural lighting. The kitchen has been updated with an abundance of white cabinets, black appliances, breakfast bar and tile flooring. Down the hall are two bedrooms, one currently used as a den with a slider to the deck. There is also a full bath on this level. Upstairs you will find two additional bedrooms with hardwood flooring, plus a full bath. The basement is partially finished with a rec room and another room that could be and office or play room. The laundry room has a 1/2 bath. Entrance to the home from the garage is also on this level. Other updates include windows, roof and furnace. If you are looking for space and convenience, this is the home for you!

Feature List:

MLS#: N322739

PropertyType: Residential

PropertySubtype: Single Family Detached

Lot Size: 0.17

Appliances: Dishwasher, Oven, Refrigerator, Vent Hood

ArchitectureStyle: Cape Cod

HasBasement: Yes

CoolingSystems: None

HeatingSystems: Baseboard

IsNewConstruction: No

Schedule a Showing/Request Info

Meriden Homes For Sale

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Post from: Wallingford Wired©2009 by Pat & Wayne Harriman

New Listing: 37 Laurel Heights, Meriden CT 06451

Well, the 2011 real estate market is in the books now, and what a ride it was! State-wide, there was a slight upward trend in monthly sales as evidenced by the trend line in the chart below:

Total sales of single family homes and condos for the year totaled 20,483 units, down 9.3%  from 22,573 in 2010. In addition, average days on market saw a distinct upward trend throughout the year, while selling prices continued a slow decline. Here are some other pertinent points of interest:

• The median price of existing single-family homes decreased to $198,500, down -5.4% vs November 2011.
• Existing single-family home sales increased 5.9% from November 2011 for a December 2011 total of 1,290 sold units.
• Condos decreased in price to $137,750 down -7.6% vs November 2011.
• Existing condo sales decreased -1.0% in December 2011 over November 2011 for a total of 286 sold units.

Post from: Wallingford Wired©2009 by Pat & Wayne Harriman

Wallingford and Meriden CT 2011 Market Report Wrap-up

Transform this beautiful lot by building your dream home. The property is located in a neighborhood setting, minutes from Hubbard Park, the mall and the highway. Other lots are available in this sought-after subdivision (see virtual tour below for locations of other lots):

178 Cynrose Place — .26 acres $125,000
189 Cynrose Place — .42 acres $125,000
193 Cynrose Place — .42 acres $125,000
164 Cynrose Place — .26 acres $125,000
205 Cynrose Place — .51 acres $125,000
216 Cynrose Place — .26 acres $125,000
186 Cynrose Place — .26 acres $125,000
201 Cynrose Place — .53 acres $125,000
172 Cynrose Place — .26 acres $125,000
192 Cynrose Place — .26 acres $125,000

For more details please call listing agent Andrea Atkins at (203) 671-2223 today!

Click here to see more pictures and detailed information. Schedule a Showing Meriden Homes For Sale Search All Homes For Sale Avoid Foreclosure What is your home worth? Harriman Real Estate LLC 203-672-4499 pharriman@harrimanre.com Licensed In: CT L2L Virtual Tours AR

Post from: Wallingford Wired©2009 by Pat & Wayne Harriman

Lot For Sale: 204 Cynrose Place, Meriden CT 06451

Attention Buyers: This is an AS-IS sale, subject to probate court approval! For more information, please call listing agent Pat Harriman at (203) 605-3873 today!

Needs Work, But Worth the Effort! Probate sale

• Home
• Photos
• Local
• Schools

Courtesy:

Harriman Real Estate LLC

203-672-4499

pharriman@harrimanre.com

Licensed In:
CT

380 Swain Ave

Meriden, CT 06450

Bedrooms: 3

Bathrooms : 1 (1 full)

List Price: $119,900

Living Area Approx :
1158

This home is being sold as is and subject to Probate Court approval. Town says its a 3 bedroom but there are no closets in the second floor bedrooms. Fireplace, first floor laundry, oversized 2 car garage with walk-up attic. Large lot.

Feature List:

MLS#: N322452

Lot Size: 0.68

LstArea: Meriden

LotSizeAcres: 0.68

BathsFull: 1

TotalRooms: 5

Stories: 2

KitchenPresent: Yes

BasementDescription: Partial Basement, Unfinished

FireplaceFeatures: In Living Room

Garage: 2

HeatingFeatures: Oil, Warm Air

CoolingFeatures: Individual Unit(S)

IntFeatures: Carpeted, Vinyl Flooring; Cable TV Available; Laundry is on First Floor; SECOND BEDROOM: On the Upper Level; THIRD BEDROOM: On the Upper Level; Attic Hatch Opening; 1 Full Bath(s) on First Floor; LIVING ROOM: Fireplace; MASTER BEDROOM: First Floor; KITCHEN: Eating Space Kitchen

Inclusions: Dishwasher, Oven/Range, Refrigerator

ExtFeatures: Asphalt Driveway

Exterior: Wood

LSAcresRangeHalf: 0.68

Topography: Lightly Wooded, Sloping

UtilitiesPresent: Public Sewer Connected, Public Water Connected

ElementarySchool: Per BOE

HighSchool: Per BOE

BasementPresent: Yes

FireplacePresent: 1

LaundryRoomPresent: Yes

MasterBedroomPresent: Yes

ParkingFeatures: Detached

EnergyInformation: Partial Storm Windows

AdrDisplay: Address display

LivingRoomPresent: Yes

Schedule a Showing/Request Info

Meriden Homes For Sale

Search All Homes For Sale

What is your home worth?

Avoid Foreclosure

 

L2L

Related articles

• New Listing: 84 Walt Drive, Meriden CT 06450 (wallingfordwired.com)

Post from: Wallingford Wired©2009 by Pat & Wayne Harriman

New Listing: 380 Swain Ave, Meriden CT 06450

How’s the Market? Wallingford and Meriden CT December 2011

The activity in the Wallingford and Meriden market was uncharacteristically high in December. Usually buyers and sellers take this time to pull back a bit and enjoy family and friends and get ready for Christmas. Some sellers even withdraw their homes from the market, thinking that no one would be out looking for a house at this time of year. But this year, not many sellers took their home off the market and that was a good thing, as the buyers were back out right after the holiday with a vengeance, continuing their home search and taking advantage of interest rates right out of the Twilight Zone.

Wallingford

The number of available homes in Wallingford remained almost exactly at November’s levels, losing only 3 units overall. Sales of Wallingford single family homes were up by 17% in December, but the condo market stayed even with November sales. The bad news was that the average selling price for condos fell by over $14,000 last month, while single family homes were selling for about $23,000 less than the prior month. This would seem to be at odds with the numbers that say Wallingford is in a balanced market, where depreciation of homes is usually relatively flat. Sales stats indicated that several homes sold for considerably less than list price, and overall homes sold at only 91.5% of list price, an unusually low figure. Interest rates remain at historically low rates, at or below 4% for conventional loans, while rates for first time home buyers hit a yearly low at 3.250 percent. Rental properties remained in high demand, especially for those who accept Section 8 funds. We do not anticipate that the market will keep up this fast pace and sales for January will most likely fall back to between 25-30 units.

Meriden

The number of available homes for sale in Meriden dropped by 5% in December, falling to 318 units. Like Wallingford, sales rose slightly in December, up 15% to 39 units sold.  Unlike Wallingford however, the average sale prices jumped for both single family homes and condos: houses were up about 4%, while condos rose around 3 percent. Coupled with the reduced inventory, this was enough to place Meriden firmly in a balanced market for the month, the first time all year that both markets held that status at the same time. And like Wallingford, rentals are also becoming more sought after in Meriden as cost-conscious consumers look for alternatives to buying until the economy improves. Those buyers who are in a position to buy have been out in force since right after Christmas, and they are still in great shape to take advantage of low interest rates. The CHFA rate for first time buyers is now at an all-time low 3.25% and shows no sign of rising any time soon, despite speculation in some quarters that they will start to rise after the first of the year. Even with all this good news, it appears that january sales will not be able to match December’s sales, and will probably end up around 20-25 units sold.

 Summary

Inventory in both Wallingford and Meriden continued to drop in December, while sales in both towns rose. Total sales for both communities in December were 75 units, a 15% increase over November, and a 14% increase over December 2010. Overall, both single family homes and condos are selling for slightly less than in November but selling quicker. Wallingford’s market remained a balanced one, with just under 7 months of available inventory, and Meriden’s market also improved to a balanced market with just over 8 months of inventory, the first time in 2011 that both markets have been in the same status. If you’re selling a home in Wallingford, properties priced at $180,000 or less or between $250,000 and $300,000 are now selling the best, while everything else is moving slowly. In Meriden it’s the homes priced in the $120,000 and under range that are selling the fastest, anything priced higher is taking 4 months or more to sell. It looks like sales in both towns will fall back slightly in January, but we’re hopeful that interest rates will stay at current levels for a while and buyer activity will remain high heading into the Spring market.

For more information on the Wallingford and Meriden housing markets, call Harriman Real Estate today at (203) 672-4499, email us at info@harrimanre.com, or visit our web site at www.harrimanre.com!

Related articles

• How’s the Market? Wallingford and Meriden CT November 2011 (wallingfordwired.com)
• How’s the Market? Wallingford and Meriden CT October 2011 (wallingfordwired.com)

Post from: Wallingford Wired©2009 by Pat & Wayne Harriman

How’s the Market? Wallingford and Meriden CT December 2011

Meriden CT Market Update for December 2011

Here’s the way the housing market is shaping up in Meriden as of December 31, 2011:

There are currently 226 single family homes for sale in Meriden:

• Low list price: $18,000
• High list price: $575,900
• Average list price: $187,713
• Median list price: $169,900
• Average Days on Market: 73
• Homes sold on average for 95.1% of list price

There are 71 homes currently under contract, priced between $20,000 and $349,900. Based on the number of homes sold in December (31), it would take approximately 7 months to sell the current inventory.

As for condominiums, there are currently 92 condos for sale:

• Low list price: $38,000
• High list price: $289,900
• Average list price: $125,610
• Median list price: $124,950
• Average Days on Market: 84
• Condos sold on average for 96.4% of list price

There are currently 18 condos under contract, priced between $30,000 and $269,900. Based on the number of condos sold in December (8), it would take approximately 12 months to sell the current inventory.

Here is a chart comparing annual home and condo sales in Meriden for the year-to-date:

Meriden home inventory were mixed again in December, with single family homes falling more than 5% to 226, while condos remained exactly at November’s level of 92 available properties. The average sale price for condos continued the strong showing it had in November, ending up 3% at $121,101, its highest level since August, while single family homes rose 4% to their highest level since September, $178,590. Interest rates for conventional loans continue to hover at or below the 4% range and CHFA rates (for first time home buyers) fell to another yearly low at 3.250%.  Meriden single family home sales rebounded from November’s level of 25 units to 31 units sold, while condo sales fell just one to 8 units sold. With the drop in inventory and rise in units sold, Meriden’s market ended 2011 in a balanced market, with about 8 months of home inventory. This bodes well for the 2012 Spring market as housing activity picked up steam immediately after Christmas and by all accounts is now going full speed ahead.    At the end of November we projected less than 29 total sales for December, but actual total sales were 39, up 13% from last December and a surprising lead-in to the new year.

Meriden Properties For Sale

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Related articles

• Meriden Market Update for November 2011 (wallingfordwired.com)
• Meriden CT Market Update for October 2011 (wallingfordwired.com)
• Meriden CT Market Update for September 2011 (wallingfordwired.com)

Post from: Wallingford Wired©2009 by Pat & Wayne Harriman

Meriden Market Update for December 2011

How’s the Market? Wallingford and Meriden CT November 2011

The Wallingford and Meriden saw some changes in November, as Wallingford saw increased sales while Meriden sales were down, but sale prices were mixed and inventory was down across the board.

Wallingford

The number of available homes in Wallingford decreased by 10% in November to 252, the lowest number since last February. Wallingford single family homes sold faster in November than at any time during the year, averaging just 67 days to sell, but the condo market was languishing, with the typical condo taking just under 6 months to sell. The good news is this is the second consecutive month of improvement in that area. Conversely, the average selling price for condos jumped by over $5,500 last month, while single family homes were selling for about $2,000 less than the prior month. Interest rates remain at historically low rates, at or below 4% for conventional loans and an amazing 3.375% for first time home buyer. One thing we’ve noticed is that rental properties are becoming much more in demand, and we’re getting just as many inquiries about our rentals as we are our homes for sale. Some homeowners who are having difficulty selling are now turning to renting their homes for added income, and for buyers who are unable to afford a big down payment or have less than stellar credit, this is suiting them just fine.  We expect this trend to continue, and sales should level off in December before getting its second wind after the New Year.

Meriden

The number of available homes for sale in Meriden also dropped in November, but not as much as Wallingford, falling about 4.5% to 322 units and keeping Meriden firmly in a buyer’s market. Sales were down only slightly, which is encouraging in a winter market, and we are confident that these numbers won’t change significantly going into 2012.  Just as in Wallingford, average sale prices fell for single family homes and rose for condos; however, while condos were selling a little faster than they did in October, single family homes took a little longer to sell. And like Wallingford, rentals are also becoming more sought after in Meriden as cost-conscious consumers look for alternatives to buying until the economy improves.

 Summary

Wallingford and Meriden both saw a drop in inventory, but sales in Wallingford increased while Meriden sales fell in November. Total sales for both communities in November were 65 units, an 18% drop from November 2010. Overall, single family homes are selling for slightly less than in October but selling quicker, while condos are selling for significantly more but selling at a much slower rate. Wallingford’s market improved to a balanced one, with just over 8 months of available inventory, while Meriden’s market declined ever so slightly but stayed firmly in a normal buyer’s market with about 9.5 months of inventory. If you’re selling a home in Wallingford, properties priced between $200,000 and $300,000 are selling the best, while anything priced over $300,000 are moving very slowly. In Meriden it’s the homes priced in the $100,000 and under range that are selling the fastest, anything priced higher is taking up to a year or more to sell. We’re hoping December ends on a high note for sales and that that momentum can carry over into January and beyond.

For more information on the Wallingford and Meriden housing markets, call Harriman Real Estate today at (203) 672-4499, email us at info@harrimanre.com, or visit our web site at www.harrimanre.com!

Related articles

• How’s the Market? Wallingford and Meriden CT October 2011 (wallingfordwired.com)
• How’s the Market? Wallingford and Meriden CT September 2011 (wallingfordwired.com)

Post from: Wallingford Wired©2009 by Pat & Wayne Harriman

How’s the Market? Wallingford and Meriden CT November 2011