The median and average sales statistics are fairly close within their respective categories (active, pending and closed), except for days on market. The median days on market for both pending and closed sales are significantly less than the average days on market. This indicates that newer listings that were priced close to or at the market price sold relatively quickly. The average days on market is skewed by a listing that unfortunately took a long time to sell – 524 days!
As noted last month, the median and average list prices for Wethersfield condos on the market are much higher than where buyers are purchasing. Since buyers are not purchasing in the higher price ranges, days on market for active listings are higher than for pending and closed sales.
Median Listing and Sales Statistics – 11/30/2010 compared to 10/31/2010
| 11/30/10 | 11/30/10 | 11/30/10 | 10/31/10 | 10/31/10 | 10/31/10 | ||
| On Market | Pending Sales | Closed Sales | On Market | Pending Sales | Closed Sales | ||
| Unit Size | 1,223 Sq. Ft.. | 845 Sq. Ft. | 1,077 Sq. Ft. | 1,223 Sq. Ft. | 845 Sq. Ft. | 1,130 Sq. Ft. | |
| Days on Market | 100 days | 38 days | 44 days | 104 days | 54 days | 43 days | |
| List Price | $175,000 | $109,900 | $144,900 | $190,000 | $99,900 | $162,900 | |
| Sales Price | N/A | N/A | $136,450 | N/A | N/A | $153,400 | |
| List Price/Sq. Ft. | $149.37/ Sq. Ft. | $130.06/ Sq. Ft. | $133,52/ Sq. Ft. | $159.09/ Sq. Ft. | $118.22/ Sq. Ft. | $135.45/ Sq. Ft. | |
| Sales Price/Sq. Ft | N/A | N/A | $127.33/ Sq. Ft. | N/A | N/A | $129.07/ Sq. Ft. | |
| Sales Price/List Price Ratio | N/A | N/A | 94.25% | N/A | N/A | 94.3% |
Average Listing and Sales Statistics – 11/30/2010 compared to 10/31/2010
| 11/30/10 | 11/30/10 | 11/30/10 | 10/31/10 | 10/31/10 | 10/31/10 | ||
| On Market | Pending Sales | Closed Sales | On Market | Pending Sales | Closed Sales | ||
| Unit Size | 1,181 Sq. Ft.. | 857 Sq. Ft. | 1,067 Sq. Ft. | 1,228 Sq. Ft. | 893 Sq. Ft. | 1,100 Sq. Ft. | |
| Days on Market | 110 days | 50 days | 72 days | 114 days | 69 days | 73 days | |
| List Price | $176,254 | $124,300 | $146,697 | $192,890 | $116,257 | $154,004 | |
| Sales Price | N/A | N/A | $138,703 | N/A | N/A | $146,168 | |
| List Price/Sq. Ft. | $144.57/ Sq. Ft. | $138.13/ Sq. Ft. | $134.21/ Sq. Ft. | $153.40/ Sq. Ft. | $124.04/ Sq. Ft. | $137.70/ Sq. Ft. | |
| Sales Price/Sq. Ft | N/A | N/A | $126.14/ Sq. Ft. | N/A | N/A | $130.00/ Sq. Ft. | |
| Sales Price/List Price Ratio | N/A | N/A | 93.63% | N/A | N/A | 94.22% |
Next month we will take a look at specific condo complexes and how each has weathered the current market. Which complexes would you like highlighted in the December market report? Please type your request in the comments section below or on my Facebook page, Maria Hagan’s Guide to Living in Greater Hartford.
Maria Hagan
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