If we look at the average price ($294,398 in 2011 vs. $296,397 in 2010), the difference was .8%. Why consider both median and average prices? The median price simply places all the values in order and selects the one in the middle, whereas the average takes the numerical average. One high-priced home will bring up the average significantly, but it won’t affect the median price. So an average price provides an indication of the breadth of home values, whereas a median price tells you which home value was in the middle. It is important to look at both average and median prices, as well as which homes actually sold.
Here is a comparison of the number of closed sales by month for 2010 and 2011 in South Windsor CT:
As in just about every other town, South Windsor showed a surge in closed sales in June 2010, which was the deadline for the homebuyers’ tax credits. But from July through September of 2011, closed sales beat out the prior year, and then once again dipped below 2010 levels.
While there are plenty of sour notes in the real estate market in general, South Windsor fared well overall, posting a minor decrease in closed sales over the prior year, a modest decrease in median price, and virtually no change in average price.
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.
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