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Wethersfield Single Family Homes 11/30/2010-What’s Selling

Single family homes in Wethersfield are selling in all price ranges, consistent with sales patterns for 2009. Fewer single family homes are selling below $200,000 than did in 2009. This is helping increase the median and average sales prices. 

Why have fewer homes sold under $200,000? The first time home buyer tax credit stimulated homes sales under $200,000 to a greater extent in 2009 than in 2010 because it ended on April 30, 2010. The tax credit also provided existing home owners with an incentive to “move up” or “down size”.  Although the “move up” tax credit also ended on April 30, 2010, its effect continued in 2010. The “move up” tax credit supported single family home sale above $200,000 and the increase in the median and average sales prices for single family homes in Wethersfield.

Sales by Price Range as of 11/30/2010

Year/ Status >$200K $200K– $250K $250K– $300K $300K– $350K $350K– $400K <$400K Total % Change
Active 23 42 30 10 3 17 125  
                 
Pending 9 10 2 3 4 2 30  
                 
Closed                
2010 YTD 48 62 36 22 11 13 192 79.67%
2009 76 71 45 26 11 12 241 97.97%
2008 38 82 54 41 17 14 246 85.12%
2007 30 97 71 47 25 19 289 92.93%
2006 49 114 67 36 21 24 311 92.28%
2005 69 104 84 32 28 20 337 116.21%
2004 90 75 55 32 20 18 290 92.65%
2003 156 77 35 21 16 8 313  

An interesting observation: Homes on the market listed below $200,000 are smaller with 2-bedrooms, or in need of repair. 14 of the 23 active listings are either 2-bedroom homes or short sales being sold in “As Is” condition.  2-bedroom single family homes are a great condo alternative and “As Is” homes are terrific opportunities for today’s bargain hunter. Why rent or pay increasing condo fees when you can own a piece of the American dream? Take a page out of the past and expand or make improvements, a little at a time. Please share your thoughts 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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