Shelton CT Single Family Real Estate Market Report for May 2011
Shelton CT single family home sales for May 2011 were off 30% from the same period last year.Â
Further analysis of the dropoff in number of houses soldÂ in May 2010 compared to May 2011 is directly attributed to the expiration of the homebuyer tax credit in June 2010. Sales in May 2010 were artificially inflated due to the credit and will be much the same with the June numbers.Â
Average list and selling prices INCREASED 11.48% & 10.64% respectively.Â Â
The median home price was UP 15% from the same period last year.
Home values continue to stabilize andÂ move in an upward direction.Â
Let's look at the numbers of houses sold the last few months in Shelton which would be a more accurate indicator of the current sales.Â Sales in May 2011 were UP 31% over April 2011.
June is trending to be good as well withÂ 27 houses under deposit andÂ 29 pending sales (under contract).Â Â
Which houses sold in Shelton CT in May 2011?
Shelton CT May 2011Â Property Transfers
(as recorded in the Greater Fairfield County MLS)
57% of sales in Shelton for May 2011 were in the $200-400K range.
The absorption trend, which shows the number of months it would take to sell the entire inventory at the same pace,Â came in atÂ 9.19 for the lastÂ three months.Â
Keep in mind that this rate is for ALL houses.Â If you are selling your home, your agent should calculate the absorption rate trend for your price point to get a more accurateÂ analysis.Â Â
Search for Your New Home in Shelton, CTÂ .
The success in selling your house in Shelton or any other community is dependent upon accurate pricing, effective staging, absorption rate for your particular price point, and having a strong online marketing presence.Â A house will sell if there is a synergy among all four.Â Contact me for advice on how to list your home effectively in today's market.
Shelton CT Single Family Real Estate Market Report forÂ May 2011
Date Source: Greater Fairfield County Multiple Listing ServiceÂ --Â June 9, 2011. No representation or warranty is made to the accuracy of this information.