We’ve entered the summer market, and have just about entered the 60-day window for accepted offers to close by the beginning of school. With this comes less new inventory hitting the market and more price reductions as sellers face the fact that the spring selling season may be coming to a close.
Median prices in May were up 10.6% ($868,000) over last May ($785,000). Unit sales in May were 19, unchanged from the same month last year. However for the three months ending May 2018, unit sales are down 19% over the same period last year.
Price per square foot for May over May is up nearly 38% to $299. Unit sales are the highest they have been since 22 in August 2017. Sales-to-list price ratio in May moved down to 92.1% from 96% in April.
Prices
The three-month median price of $755,000 in May was up just slightly from $740,000 in April and up marginally from $747,500 in May 2017. Price per square foot in May was $299, up from $210 in April and up from $217 in May 2017.
Market Time
Days on market of 110 in May was down moderately from 140 in April and down somewhat from 153 in May 2017.
Copyright ©RealtyMarketPublishing, 2018 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.
Data courtesy of: SMARTMLS
Listing and sales information comes from various sources.
