Wallingford CT Market Update for November 2011

Wallingford CT Market Update for November 2011

Here's the way the housing market is shaping up in Wallingford as of November 30, 2011:

There are currently 196 single family homes for sale in Wallingford:

• Low list price: $29,900
• High list price: $1,300,000
• Average list price: $317,135
• Median list price: $279,900
• Average Days on Market: 67
• Homes sold on average for 95.2% of list price

There are 51 homes currently under contract, priced between $64,900 and $599,900. Based on the number of homes sold in November (23), it would take approximately 9 months to sell the current inventory.

As for condominiums, there are currently 60 condos for sale:

• Low list price: $64,900
• High list price: $599,900
• Average list price: $217,151
• Median list price: $192,950
• Average Days on Market: 179
• Condos sold on average for 98.1% of list price

There are currently 10 condos under contract, priced between $49,900 and $495,000. Based on the number of condos sold in November (8), it would take 8 months to sell the current inventory.

Here is a chart showing annual home and condo sales in Wallingford so far in 2011:

Wallingford home and condo inventories both fell in October; single family homes decreased by 8% to 196 units, and condos fell by 12% to 60 units. The average selling price in both categories remained mixed as condos dropped to their lowest level of the year at $217,151, while single family homes saw a modest increase to $3167,135. Days on market continued to improve as houses took 67 days to sell while condos fell to 179 days on market. Single family home sales rose 15% to 23 units sold, while condo sales doubled to 8 units. Total sales increased by 29% over October, and by 7% over November 2010. This increase in sales, coupled with decreased inventory and faster selling times resulted in the Wallingford housing market going to a balanced market for the first time since July. Conventional mortgage rates were still hovering at or below 4% and CHFA rates for first time home buyers fell to a yearly low of 3.375 percent. Projected sales for December are in the 30-35 unit range, which will be slightly lower than December 2010, but still at a good level heading into 2012.

~Wallingford Properties For Sale~

(zoom out to see more properties)

Related articles

• Wallingford CT Market Update for October 2011 (wallingfordwired.com)
• Wallingford CT Market Update for September 2011 (wallingfordwired.com)
• Wallingford CT Market Update for August 2011 (wallingfordwired.com)