Shelton CT Condo Market Report ~ October 2011 ~ Shelton CT Real Estate

Shelton CT Condo Market Report ~ October 2011 ~ Shelton CT Real Estate

It was ANOTHER good month in Shelton for condo sales!

Compared to the same period last year, October 2011 condo sales in Shelton CT were up 44%.

Average List Price was up 36% and average selling price was up 38%

The Median sales price was up 62%.

Days on the market went down 1%

Great improvement, strong sales, all good stuff.

The top three sales were in the new Shelton condo communities, Cranberry Hill Estates, a planned community of single family homes off Armstrong Road and Aspen Ridge, luxury townhomes on the Far Mill River.

They both have great appeal and their pricing is above the median norm for Shelton condos.

Want to know exactly where the condo sales were in Shelton in October? Take a look at the property transfers below as recorded in the Greater Fairfield County MLS.

31% of Shelton condo sales for October 2011 were in the $300-$400K range with others spread out fairly equally.

The year-in-review chart shows the Shelton condo market sales coming back up to the June-July levels. Look at the sales the past five months compared to the previous five. What an improvement!!

Moving forward, November has 9 condos under deposit and 14 units under contract.

The absorption trend for the last three months is up a fraction but generally still better than the 9-12 month trend. Based on the current inventory and the number of solds, it would take 7.54 months to sell your condo.

If you do decide to sell, your listing agent must calculate the absorption rate for your price range as this will be more accurate. This will help you to determine if you need to adjust your pricing OR if you have not listed yet, determine the best price.

Search for Your New Condo in Shelton, CT

Thinking of buying or selling your Shelton CT condo? Please contact me for a complete market analysis on your present condo or for expert guidance in buying a condo.

There's a LOT to know before you purchase a condo. I have experience in covering all the bases and knowing how to navigate a condo transaction protecting your interest.

Be sure to check the Shelton CT Single Family Market Report for October 2011

Shelton CT Condo Market Report ~ October 2011 ~ Shelton CT Real Estate

Data Source: Greater Fairfield County Multiple Listing Service -- November 14, 2011. No representation or warranty is made to the accuracy of this information.