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Wethersfield Single Family Homes Market Activity as of 12/31/2010

During December the inventory of single family homes in Wethersfield decreased from 125 to 104 homes. This is typical for the holiday season. New pending sales in December (9) were level with new pending sales in November (8).  Total pending sales decreased from 30 to 18 because 19 transactions closed in December.

December 2010 Market Activity

  On Market Pending Sales Closed Sales
December Volumes 19 New Listings 9 Went Under Contract 19 Closed This Month
Total Volumes 104 Homes on Market 18 Total Pending 215 Sold Year to Date
Most Expensive $699,000 $584,750 $850,000
Least Expensive $124,900 $125,900 $105,000
% With Price Reductions 53.0% 50.0% 51.16%

The percentage of active listings with price reductions decreased from 58.4% to 53.0%. The 19 new listings and 9 new pending sales helped this price reduction statistic.

Some interesting statistics:

  • 10 of the 19 sales that closed in December were on the market for less than 30 days (measured from listing date to contract date).
  • Only 3 of the 10 homes on the market for less than 30 days were bank owned properties.
  • 8 of the 9 homes that were on the market for more than 30 days had one or more price reductions.
  • 4 of the 19 sales closed for asking or more!

The speed with which the 10 homes sold (in under 30 days) and the 100%+ list to sale price ratio for 4 of the 19 sales shows that list price is key.

Please share your thoughts on the above statistics in the comments section below, or on my Facebook page, Maria Hagan’s Guide to Living in Greater Hartford or contact me via email at mhagan@prudentialct.com or on my cell, 860-305-8044. I’d like to hear your thoughts.

Maria Hagan

Prudential Connecticut Realty
1142d Silas Deane Hwy
Wethersfield, CT 06109
Cell: 860-305-8044
Email: mhagan@prudentialct.com

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