Signs Of A Recovering Real Estate Market
With temperatures chilly real estate sales grew hot in the first quarter of 2013. The number of buyers has out paced the inventory of homes available (currently 222 offered down approx. 12% from last year) and many sales went to multiple bids. We are starting to see some modest price increases and sales where the average sale price was higher than the average list price. Sales are up about 25% with an average sale price of $1,696,000.
Value, updated amenities and close to the center of the town continue to lead buyers’ wish lists. There are 66 houses with contracts signed as well as 9 condominiums pending which is up approximately 26% from last year. What does this mean to you? The housing market is gaining strength locally as well as nationally. Below is a sampling of some of the homes sold in the past couple of months.
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- Turner Hill Sold for $690,00 2204 sq foot 3 bedroom/2.5 bath home on 1.84 acres
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- Windrow Lane Sold for $995,000 3044 sq foot 4 bedrooms/3 bath home on 1.67 acres
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- Hampton Lane Sold for $1,326,000. 2599 sq foot 3 bedrooms/2 bath home on .56 acres
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- Adams Lane Sold for $1,725,000 3704 sq foot 5 bedroom/ 3 bath homes on 2 acres
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- Deer Park Sold for $2,750,000 6261 sq foot 5 bedroom/4 bath home on 2.76 acres
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- Oenoke Ridge Sold for $3,810,000. 7395 sq foot 5 bedroom/ 6 bath home on 2.84 acres
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- First Quarters Sale In New Canaan
