Vernon CT Market Report for November 2011

 

Homes sold in Vernon CTReal estate sales in Vernon CT during November were typical of most of the year, holding steady at 14 homes sold.  However, this is just 2/3 of what was sold in November 2010 (22).

The median price also took a big hit this November over last November ($146,250 was the median price for November 2011 compared to a median price of $226,000 for November 2010).

Here is the breakdown by price range:

Price Range November 2011 November 2010
Under $100,000 4 4
$100,000-$149,999 4 3
$149,999-$199,999 3 2
$200,000-$249,999 3 7
$250,000-$299,999 - 4
$300,000-$349,999 - 1
$350,000-$399,999 - 1
Over $400,000 - -
Total 14 22

It’s interesting that all the sales this November were under $250,000, whereas last November there were six in the upper price ranges.

When we look at how November compared to the rest of 2011, we can see that the number of houses sold are within a fairly tight range, but the median prices are all over the place. One of the problems with looking at median prices is that it is a reflection of who is buying houses in any given month, and during November, buyers were buying lower-priced homes.

There are also 22 homes under contract (with a median list price of $169,555) and 15 homes under deposit (with a median list price of $149,900), so we should expect similar numbers over the next couple of months.

Here is a recap of the year so far in Vernon CT:

Month # of Closed Sales Median Price
November 14 $146,250
October 16 $171,750
September 12 $161,500
August 14 $205,250
July 12 $210,000
June 18 $138,750
May 14 $177,000
April 5 $155,000
March 7 $206,000
February 13 $140,000
January 11 $195,500

I think it is interesting to see which houses actually sold during November 2011 in Vernon CT, along with list price, sold price, and days on market (DOM):

Address

List Price

Sold Price

DOM

27 Rhode Island Avenue

$12,000

$8,000

160

44 Middle Terrace

$54,900

$54,000

12

22 Bancroft Road

$83,900

$75,000

27

42 Campbell Avenue

$99,999

$93,000

81

6 Fox Hill Drive

$144,900

$110,000

78

291 Phoenix Street

$140,000

$140,000

11

20 King Street

$155,900

$143,000

50

20 Bellevue Avenue

$149,900

$149,500

107

12 Scott Drive

$149,900

$151,000

11

10 Eva Circle

$179,900

$175,000

28

46 Pinewood Drive

$199,900

$199,900

45

74 Gerald Drive

$199,900

$201,000

8

111 Scott Drive

$219,900

$213,000

151

50 Duncaster Road

$249,000

$245,000

174

 

If you are looking at a home in Vernon CT, there are currently 116 homes on the market with a median list price of $205,900.  That means that there are 10.9 months of inventory (the absorption rate) in Vernon CT.  Generally speaking, sellers are facing a longer time on the market unless their homes are priced right for the condition, and buyers have a greater selection, depending on the price range they are looking in.  If you are thinking about buying or selling in Vernon CT, be sure to contact me.  I would be happy to help you!

 

Peggy Chirico, REALTOR®
Serving the Greater Hartford Area
Prudential Connecticut Realty

If you are buying or selling a home in Hartford County or Tolland County, please call me at 860-748-8900, , or use the Contact Request Form.  I would be happy to help you with your home search or answer any of your real estate questions.

Find your dream home now!

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