Understanding the general direction of the current New Haven housing market conditions is of vital importance to both buyers and sellers in order to help you make a more informed decision when buying or selling a home in New Haven.
New Haven CT Real Estate Market Report November 2017
According to data reported by the Connecticut Multiple Listing Service (CTMLS) the average median list price of New Haven houses listed during November was $164,900 a 32.03% increase from this time last year of $124,900.
The average median sold price for the month of November was $166,900 a decrease of 5.44% over last year at 176,500 and a .24% increase over last month of $165,500.
CTMLS statistics shows that homes in New Haven are taking a little longer time to sell once they hit the market.
In November of last year, most homes stayed on the market an average of 78 days. In November of this year, single-family homes had an average market time of 92 days.
Thirty-five homes sold in New Haven during the month of November which is 8 more that sold last year in November 2016.
For the month of November 2017, 26 new residential listings hit the market and 17 New Haven single family homes went under contract.
Year To Date Average Median Sales Price Single Family Homes
How’s The Condo Market Doing?
Condos are selling at a much slower pace year over year. This year’s average market time for November 2017 is 224 days compared to 24 days on market in November 2016.
For the month of November the average median list price for condominiums and townhouses was $159,900 a decrease of 22.92% over November 2016 of $207,450. The average median sold price for the month of November was $125,800 which has seen a substantial increase as compared to a median sales price of 46,444 in November 2016.
Year To Date Average Median Sales Condos and Townhouses
There can be a lot of fluctuation in what a home is listed for and what it ultimately sells for. To make sure you don’t overpay for your home, you’ll want to have a New Haven real estate agent that does a thorough market analysis of the home on which you are making an offer. If you’re considering making a move now or in the near future it’s important to get a New Haven home evaluation to determine what the value of your home is in today’s real estate market.
If you are considering buying a home in New Haven, having a real estate agent who understands the New Haven CT real estate market is a must. Interest rates are still low so don’t wait too on the sidelines. Many homes, when priced correctly can sell within a few days of hitting the market.
Whether you’re considering buying or selling it’s important to understand that pricing trends can vary from neighborhood to neighborhood.
Call me at (203) 645-7467 if you’re interested in knowing what your New Haven home is worth in today’s real estate market or so we can discuss your housing needs. I look forward to talking to you and assisting with your New Haven real estate needs.
The data for New Haven CT Real Estate Market Report November 2017 is for the referenced month and based on statistics provided from CTMLS.. All information is deemed reliable but not guaranteed. (mobile homes & private sales are not included)
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