| Beds | Baths | SqFt | Listing Price | LP$/SqFt | Sale Price | SP$/SqFt | SP/LP | ADOM | |
|---|---|---|---|---|---|---|---|---|---|
| High | 6 | 4.5 | 4,349 | $2,950,000 | $678.32 | $0 | $0 | 0% | 557 |
| Low | 2 | 1.5 | 1,262 | $219,900 | $115.74 | $0 | $0 | 0% | 5 |
| Average | 4 | 2.49 | 2,460 | $699,064 | $271.53 | $0 | $0 | 0% | 135 |
| Median | 4 | 2.1 | 2,231 | $499,286 | $206.95 | $0 | $0 | 0% | 92 |
There are currently 3 properties under deposit in Noank CT. This is better than our last review however, with 23 listings still on the market, we need significantly more to go under contract in order to really push the prices of homes up. The average price for a home under contract is $398k and is on the market for 39 days.
| Beds | Baths | SqFt | Listing Price | LP$/SqFt | Sale Price | SP$/SqFt | SP/LP | ADOM | |
|---|---|---|---|---|---|---|---|---|---|
| High | 4 | 3 | 2,178 | $630,000 | $289.26 | $0 | $0 | 0% | 66 |
| Low | 3 | 1 | 1,606 | $214,995 | $129.52 | $0 | $0 | 0% | 10 |
| Average | 3 | 2 | 1,815 | $398,332 | $212.23 | $0 | $0 | 0% | 39 |
| Median | 3 | 2 | 1,660 | $350,000 | $217.93 | $0 | $0 | 0% | 42 |
Over the last 12 months, 14 single family residential listings have sold. This is 9 less than reported in March. This being a rolling average, it shows that last spring was significantly better than this year in Noank. The prices have risen in both the average and median categories. The average was $567k for a 2067 square feet home and is now $623 for a 2186 square feet home. The median rose from $379k/1964 square feet to $392k/2000 square feet. The average number of days on the market has increased 18 days to 131 days while the median fell 4 to 54.
| Beds | Baths | SqFt | Listing Price | LP$/SqFt | Sale Price | SP$/SqFt | SP/LP | ADOM | |
|---|---|---|---|---|---|---|---|---|---|
| High | 5 | 5.5 | 4,708 | $2,675,000 | $810.36 | $2,190,000 | $743.16 | 109.8% | 569 |
| Low | 2 | 1 | 726 | $224,900 | $114.51 | $190,000 | $96.74 | 81.9% | 11 |
| Average | 4 | 2.35 | 2,186 | $623,846 | $292.6 | $571,923 | $275.95 | 94.89% | 131 |
| Median | 4 | 2.05 | 2,000 | $392,125 | $205.87 | $382,500 | $195.79 | 95.6% | 54 |
This is another mixed report. Although prices seem to have risen for those properties that have sold, it does not seem as though the market will absorb all the inventory at the current prices. Unless we have a strong end of the summer, and the under contract numbers are not showing this, the remaining sellers are going to need to start to reduce their prices to increase their pool of buyers. As a Noank real estate agent, there are still a lot of factors influencing our market and making it difficult to predict future trends. With rising interest rates, we may fall into another slump. This is only a small village within the town of Groton CT, so hopefully things will improve all over.
The following real estate market data is from the CTMLS as of 7/29/14. Updated Noank real estate trends can be found by following the link to our Noank page.
