A current snapshot of the Mystic Real Estate market as of January 8th 2014 is displayed in the chart below. All statistics are taken from the CTMLS. There are a total of 111 active listings for sale in all of Mystic (06355) and Old Mystic (06372). These areas do include West Mystic and Masons Island. These are single family residential properties only. The longest “Active Days On Market” (ADOM) was 465. These are continuous days on the market. That will not count if things were taken off the market and re-listed. The average list price is $502k and the median list price is $396k.
| Beds | Baths | SqFt | Listing Price | LP$/SqFt | Sale Price | SP$/SqFt | SP/LP | ADOM | |
|---|---|---|---|---|---|---|---|---|---|
| High | 5 | 4 | 5,142 | $3,490,000 | $1,545.45 | $0 | $0 | 0% | 465 |
| Low | 1 | 1 | 517 | $69,900 | $57.26 | $0 | $0 | 0% | 4 |
| Average | 3 | 2.15 | 2,161 | $502,717 | $235.87 | $0 | $0 | 0% | 143 |
| Median | 3 | 2.1 | 2,120 | $396,500 | $192.87 | $0 | $0 | 0% | 124 |
There are a total of 23 properties that are under contract. This is either an under deposit and continue to show or under deposit status. The data is from the same area. The average days on the market for something to go under deposit was 160. With one listing on the market for 939 days and the median days on the market at 102, these numbers seem to be skewed a bit higher than normal. The average list price for a property under deposit is $405k and the median is $367k.
| Beds | Baths | SqFt | Listing Price | LP$/SqFt | Sale Price | SP$/SqFt | SP/LP | ADOM | |
|---|---|---|---|---|---|---|---|---|---|
| High | 4 | 3.5 | 4,200 | $799,000 | $393.09 | $0 | $0 | 0% | 939 |
| Low | 2 | 1 | 1,200 | $150,000 | $95.31 | $0 | $0 | 0% | 6 |
| Average | 3 | 2.13 | 2,298 | $405,264 | $176.25 | $0 | $0 | 0% | 160 |
| Median | 3 | 2 | 2,088 | $367,500 | $155.84 | $0 | $0 | 0% | 102 |
The next chart is of all the property that has sold within the last year of today’s date. There were a total of 164 residential properties sold within the last 12 months. These numbers are actually approaching the highs of 2006-2008. The average sold price in Mystic has been $385k and selling at almost 96% of the current list price. The average days on market for something that has sold is 112. That has been consistent over the last year.
| Beds | Baths | SqFt | Listing Price | LP$/SqFt | Sale Price | SP$/SqFt | SP/LP | ADOM | |
|---|---|---|---|---|---|---|---|---|---|
| High | 10 | 8 | 21,780 | $5,000,000 | $1,119.57 | $2,850,000 | $685.48 | 166.5% | 798 |
| Low | 1 | 1 | 672 | $10,000 | $11.43 | $6,000 | $7.65 | 56% | 1 |
| Average | 3 | 2.08 | 2,128 | $413,854 | $196.97 | $385,194 | $185.44 | 95.84% | 112 |
| Median | 3 | 2 | 1,788 | $317,000 | $175.35 | $299,500 | $171.77 | 96.2% | 63 |
All of this information continues to show that the market is getting stronger. There have been a few changes to the mortgage market along with slowly rising interest rates, but we are all very hopeful for 2014.
If you are thinking of selling your home and would like to know the value of your home in Mystic, please use our form and we can come out and give you a better idea of what your home may sell for. If you would like to know the market statistics for another town, please contact us and we can send you additional information.
