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Canton Real Estate Notes: Dec. 1, 2016

December 10, 2016 Community, Real Estate No Comments
David Sinish

David Sinish

By David Sinish

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

  1. Number of single family homes sold increased slightly from 126 to 127.
  2. The median sales price increase 4% to $315,000.
  3. The median sales price per square foot also increased slightly .4% from $141.02 to $141.55.
  4. The “days on market” increased from 45 to 48.

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.  The number of homes listed as of December 1, reduced to 44 from the 58 as of November 1.   Should you require more detailed information, please let me know.  

How does the most recent quarter (to 12/1/16) compare with the quarter ending on 12/1/2015?  Great.

Number sold +15.6 percent, Median sold price +4.0 percent. Price per square foot decreased .4% and Days on Market -15.9%.

A much better quarter reflecting a big change from last year.  Based on recent sales performance, the current inventory could be sold in slightly less than six months.

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 13.1%. Median sold prices show little change, price per square foot off .8 percent to $144.01 and houses are on the market three days longer to 46 days.

For the entire group, we continue to be in a market moving toward one that is slightly moving toward “even”, edging away from a market favoring buyers.  As of December 1st there were 632 homes on the market, a reduction of 11.2 percent from the prior month.

On a closing note, Interest rates have been rising from their historic lows.   The longer you wait the more buying power you give up.

These statistics are based on information provided to and compiled by the Connecticut Multiple Listings Service, Inc. as of Dec. 9, 2016

Carrie and I send our best wishes for your Happy Holidays.

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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