Housing inventory is shrinking, and homes are selling quicker in this month’s report.
The general vibe out in the Wilton marketplace is that updated homes under $800,000 are the ones that are getting snatched up. Competitive pricing, location, and updates continue to give sellers an edge in this buyers market.
New listings are down 17% in the three months ending March 2018, reflecting a nationwide trend of a decreasing amount of housing inventory. It has not, however, affected Wilton housing prices yet.
Unit sales are down one-third to 12. Three-month price-per-square-foot in March was $228, down 10% from March 2017.
There were 12 unit sales in March, down one third from 18 in March of 2017. Sales/list price ratio was relatively flat.
Prices
The median price in March was $621,000, down nearly 8% from $673,750 in March 2017. The three-month median price of $745,000 in March was up from $680,000 in February and $735,000 in March 2017. Price-per-square-foot in March was $207, down from $265 in February and $214 in March 2017.
Market Time
Days on market of 101 in March was down considerably from 175 in February and 174 in March 2017. This is the lowest days on market has been since August 2017.
First Quarter Market Snapshot
Information courtesy William Raveis.
Lisa Bender is a realtor with the Wilton office of William Raveis and a regular contributor to GOOD Morning Wilton. She writes about the Wilton real estate market. She can be reached at 203.246.6986 or via email.