Easton CT Real Estate Market Conditions as of July 2011- The Year in Review

Easton's market is starting "to move" somewhat , but there is still is a big supply of homes available. The inventory tends to go up in the springtime, so the end result may not look as rosy  as one might hope., although the median price has risen steadily. Note that it is not uncommon for Easton to have what seems like such a large inventory.

There are currently 91 single family homes on the market through our MLS system ( GFC-CMLS  ) According to the MLS, there have been 12 sales reported during the last three months with a median list price of $749,900 and a median sales price of $732,500. The sales price to list price ratio is 95.24 percent. The monthly absorption rate is 4.0 and there is a 22.75 month supply of housing inventory. Average Market Time for Active listings during this period is 95 days, and the average market time for the sales reported during this period was 109 days.

Compared to the prior 4-6 months: There were 72 single family homes on the market through our MLS system ( GFC-CMLS ) According to the MLS, there were 9 sales reported during this period with a median list price of $780,000 and a median sales price of $721,650. The sales price to list price ratio  during this period was 96.35 percent. The monthly absorption rate during this time was 3 and there was a 24 month supply of housing inventory. Average Market Time for listings during this period is 142 days, and the average market time for the sales reported during this period was 105 days

The prior 7-12 months statistics show that there were 54 single family homes on the market through our MLS system ( GFC-CMLS  ) According to the MLS, there were 38 sales reported during this period with a median list price of $749,900 and a median sales price of $548,750. The sales price to list price ratio  during this period was 94.74 percent. The monthly absorption rate during this time was 6.33 and there was a 8.53 month supply of housing inventory .Average Market Time for listings during this period is  178 days, and the average market time for the sales reported during this period was 78 days.

About the reports. These reports include the same information that home appraisers submit to a bank, and use as an addendum to their reports on individual properties. We have provided this data for you on a townwide basis. Individual property values will be different. Contact an appraiser if you need a specialized report, or contact me for a Market Analysis of your home when you are ready to sell.

Market Conditions: The Listing count is a representation of the last day of a  particular time period
1.Months Supply - The number of months it will take to deplete the inventory at the current rate of sales. In Easton, a neutral market  would  be indicated by anywhere from 6 - 9 months, dependent upon additional conditions.
2. Absorption - Quoted as a per month figure. The average number of sales in any given time period (e.g., 90 sales in a 3 month period would mean an absorption rate of 30 per month)
3. Sales - The amount of reported  sales in the given time period.

Median Sales Price and List Price-
1. Median List Price compared to Median Sales Price. This may not  coincide with the quoted Sales Price to List Price ratios, as that takes into account average pricing, as opposed to Median List and Sale Pricing.