Understanding the general direction of the current Branford 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 Branford.
🏡 Branford Real Estate Market Report October 2017
According to data reported by the Connecticut Multiple Listing Service (CTMLS) the average median list price of Branford houses listed during October was $349,900 a 6.05% decrease from this time last year of $372,450.
The average median sold price for the month of October was $369,900 an increase of 5.69% over last year and a 22.79% increase over last month.
CTMLS statistics shows that homes are taking a shorter time to sell once they hit the market.
In October of last year, most homes stayed on the market an average of 149 days. In October of this year, single-family homes had an average market time of 83 days.
Twenty-three homes sold in Branford during the month of October which is 7 more that sold last year in October 2016.
For the month of October 2017, 33 new residential listings hit the market and 19 Branford 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 the same pace year over year. This year’s average market time for October 2017 is 92 days which is exactly what is was last year at this time.
For the month of October the average median list price for condominiums and townhouses was $162,900 a decrease of 10.45% over October 2016 of $181,900. The average median sold price for the month of October was $131,000 a decrease of 21.56% from this time last year.
📊 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 Branford 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 Branford 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 Branford, having a real estate agent who understands the Branford 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 Jamie at 917-705-5675 if you’re interested in knowing what your Branford 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 Branford real estate needs.
The data for Branford Real Estate Market Report October 2017 is for the referenced month and based on statistics provided from CTMLS for single family homes. All information is deemed reliable but not guaranteed. (mobile homes & private sales are not included)
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