Groton Long Point Real Estate Agents had 33 active single family properties listed as of July 1st; one more than was listed the previous month. 27 of these homes were listed on June 1st as well, meaning 6 new listings were added during the month of June.
The listing prices ranged from $479,000 to $2,499,000 with $1,100,100 as the median listing price and the average listing price slightly higher at about $1,195,000. The median was up $5000 and the average was up about $30,000 from June 1st. Average “Active Days on the Market” (ADOM) was also up a little more than a week from 124 days on June 1st to 132 days on July 1st.
The average size of homes on the market was approximately 2400 square feet with 4 bedrooms and 2.5 bathrooms; there was virtually no difference from the average for the previous month.
The following chart shows how the average price for these active listings varies with number of bedrooms and living area, and shows the number of houses listed in each category.
There were 3 homes under deposit in Groton Long Point as of July 1st. The average list price for these homes was about $625,000 and they were on the market between 24 and 214 days. These were among the smaller homes on the market averaging about 1550 square feet with 3 bedrooms and less than 2 full bathrooms.
2 closing transactions occurred during June 2016 which is the same number of closing transactions in June 2015.
Over the last 12 months, there have been 16 closed transactions from Groton Long Point real estate agents, and 52 homes have been sold in calendar years 2011 through 2015, and 7 so far in 2016. The following chart shows the number of closing transactions broken down by the number of bedrooms in the home for these 5 full-year periods; the trend shows a generally positive direction for the number of sales per year.
The average size for these 59 homes was a little under 2200 square feet with just under 4 bedrooms and between 2 and 3 bathrooms with almost $850,000 as the average closing price.
The following charts show trends in average closing price per quarter for the last 5 years as related to number of bedrooms using 12-month “rolling averages” as well as “Active Days on Market” for all homes.
After a decline a couple years ago, prices flattened out and seem to be improving recently, which is a positive sign.
We’ll be monitoring the market over the coming months to see if there are other trends or data of interest which we can share with you and will post.
The following statistics were based on single family residential home and all data was collected from the CTMLS as of July 1st 2016. Updates will be posted to our Groton Long Point page.
If you are looking for properties for sale in Groton Long Point or if you would like to work with a CT Realtor in this area, please contact us today. We would love to help you buy or sell your next home.