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Wethersfield Single Family Homes 11/30/2010-Median Vs. Average

The median and average listing and sales statistics below show the relationship between list price and days on market in today’s real estate environment. Single Family homes are selling in Wethersfield and the median and average list price of closed sales have increased in 2010 over 2009. Pricing is the key to maintaining that momentum. In today’s climate, homes priced “in the market” not “on the market” will sell faster and closer to the list price.

The median list price for active listings decreased $10,000 (from $259,000 to $249,000) from 10/31/2010 while the median days on market increased from 65 days to 82 days during the same period. Despite the reduction in median list price, the median days on market is 64+% higher for active listings than for pending and closed sales.

Median Listing and Sales Statistics as of 11/30/2010

  On Market Pending Sales Closed Sales
House Size 1,669 Sq. Ft. 1,684 Sq. Ft. 1,543 Sq. Ft.
Days on Market 82 days 51 50 days
List Price $249,000 $244,700 $241,950
Sales Price N/A N/A $235,000
List Price/Sq. Ft. $155.65/ Sq.  Ft. $149.47/ Sq. Ft. $162.81/Sq. Ft.
Sales Price/Sq. Ft N/A N/A $155.02/ Sq. Ft.
Sales Price/List Price Ratio N/A N/A 97.05%

The average listing and sales statistics tell a similar story. The average list price decreased from $297,802 at the end of October to $284,972 at the end of November, while the average days on market increased from 100 days to 112 days. Even though the average list price decreased $13,000+, the average list price for active listings is still 5+% above the average list price for pending and closed sales; and the average days on market is 43+% higher for active listings than for pending and closed sales.

Average Listing and Sales Statistics as of 11/30/2010

  On Market Pending Sales Closed Sales
House Size 1,881 Sq. Ft. 1,842 Sq. Ft. 1,748 Sq. Ft.
Days on Market 112 days 78 days 73 days
List Price $284,972 $266,546 $270,508
Sales Price N/A N/A $260,687
List Price/Sq. Ft. $156.64/ Sq. Ft. $151.10/ Sq. Ft. $161.38/ Sq. Ft.
Sales Price/Sq. Ft N/A N/A $155.89/ Sq. Ft.
Sales Price/List Price Ratio N/A N/A 96.65%

Stop by next month to see how single family homes in Wethersfield CT end the year! Will the median and average list prices increase, decrease or stay level? Please share your predictions in the comments section below or on my Facebook page, Maria Hagan’s Guide to Living in Greater Hartford.

Maria Hagan
Hartford CT Real Estate Agent
East Hartford CT Real Estate Agent
Wethersfield CT Real Estate Agent
Rocky Hill CT Real Estate Agent
Homes for Sale in Greater Hartford CT

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