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Canton Real Estate Notes: It’s a Local Market

September 12, 2016 Opinion, Real Estate No Comments
David Sinish

David Sinish

By David Sinish 

It is important to remember that the real estate market is a local one. Although national news is what we hear and read in the media, local statistics are most meaningful to local buyers and sellers. It is certainly very true that different regions reflect regional activity.  For instance, real estate sales and prices are increasing dramatically throughout the central region of our country due to the increases in the energy industries.

How did the Canton market fare in the past twelve months compared with the previous twelve months?

The number of sales reduced by 4.7 percent to 122, median sales price reduced by 2.2 percent to $317,000, median sales price per square foot are down 3.4 percent to $141.92, and days on market increased from 44 to 47.   It is important to remember that these are the “median” numbers with half of sales above this number and half below There are different numbers for different homes reflecting different price ranges, various sizes, features and locations.  Should you require more detailed information, please let me know.

What is the performance of our neighboring towns of Avon, Burlington, Canton, Farmington, Granby, New Hartford and Simsbury?

On a year to year basis, the number of sales increased by 9.7 percent, median sold prices have a decrease of 5.7 percent, price per square foot off 2.2% and houses are on the market three days longer to 47days.

For the entire group, we continue to be a market favoring buyers.  As of September 1st there were 679 homes on the market, a reduction of 14 percent from the prior month.

These statistics are based on information provided to and compiled by the Connecticut Multiple Listings Service, Inc. as of September 10, 2016.

David Sinish is a Realtor® with the Realty Works Group of William Raveis Real Estate located at 200 West Main Street in Avon.  He is very willing to provide assistance with your general real estate questions, or with buying or selling your home.        

Please email david.sinish@raveis.com, call 860-922-6170 or go to   DavidSinish@Raveis.com. 

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