Today I wanted to give you an update on how the market is doing, and what that means for you as a seller.
Today I wanted to talk about how the market is doing, especially here in New Haven and around Wallingford.
The median list price in the Wallingford is around $299,900. The demand is actually increasing and the days on the market for properties are trending downward, so we’re actually seeing a lot more multiple offer situations on a lot of these properties, which is great for sellers. The market action index for Wallingford is around 36.2, which is incredible because about six months ago, it was under 30.
The market action index tells us how the market is doing by measuring what’s for sale versus what’s actually selling. Any market action index below a 30 implies a buyer’s advantage. Any index of a 30 or above implies a seller’s advantage.
So today’s value of 36.2 means a seller’s advantage, and it’s actually trending upward. What that means is if you’re thinking about selling your home, now is the time to put it on the market. There is high demand in Wallingford, New Haven, and Fairfield counties. In most of Connecticut, there is a high demand for homes. Yes, there is a lot of inventory, but there aren’t a lot of good homes for sale. Good homes tend to sell a lot quicker.
If you’re thinking about selling your home, give us a call and let us come down to take a look at your home. We’ll give you an honest, real estimate of what your home is worth. We’d also love to show you some of the innovative marketing that we’re doing to help get homes sold, like professional photography and videography.
If you have any questions about this topic or you’re looking to buy or sell a home, give me a call. I look forward to working with you!