2011 Year in Review ~ South Windsor CT

By
Real Estate Agent with Prudential CT Realty
http://actvra.in/t44

South Windsor CT real estate sales during 2011 showed a fairly typical picture of the ups and downs of the market.  As was the case with many towns in Connecticut, South Windsor's closed sales and median price were down from the previous year.  In 2011, there were 195 closed sales compared to 202 closed sales in 2010; the median price was $254,900 in 2011 vs. $274,450 in 2010.  So closed sales were down 3.47% while median price was down 7.12%.

If we look at the average price ($294,398 in 2011 vs. $296,397 in 2010), the difference was .8%.  Why consider both median and average prices? The median price simply places all the values in order and selects the one in the middle, whereas the average takes the numerical average.  One high-priced home will bring up the average significantly, but it won't affect the median price.  So an average price provides an indication of the breadth of home values, whereas a median price tells you which home value was in the middle. It is important to look at both average and median prices, as well as which homes actually sold.

Here is a comparison of the number of closed sales by month for 2010 and 2011 in South Windsor CT:

Closed Sales in South Windsor CT in 2011 and 2010As in just about every other town, South Windsor showed a surge in closed sales in June 2010, which was the deadline for the homebuyers' tax credits.  But from July through September of 2011, closed sales beat out the prior year, and then once again dipped below 2010 levels.

While there are plenty of sour notes in the real estate market in general, South Windsor fared well overall, posting a minor decrease in closed sales over the prior year, a modest decrease in median price, and virtually no change in average price.

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Peggy Chirico

 

 

Peggy Chirico, REALTOR®
Serving the Greater Hartford Area
Prudential CT Realty
peggychirico@gmail.com

860-748-8900

If you are buying or selling a home in Hartford County or Tolland County, please call me, email me, or visit my website.  I would be happy to help you with your home search or provide a market analysis for your home.

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Show All Comments
Rainmaker
579,028
DeeDee Riley
Lyon Real Estate - El Dorado Hills CA - El Dorado Hills, CA
Realtor - El Dorado Hills & the Surrounding Areas

Peggy,

Great market report.  I think our year over year is down slightly but January sales looked pretty good for us.  I need to find time to do the report.  The lower inventory sounds like something the whole country is facing.  That should help us all!

Feb 15, 2012 10:30 PM #1
Ambassador
1,842,820
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages Connecticut - Middletown, CT
Your Connecticut Mortgage Expert

Peggy call me an optimist but considering that in 2010 we had the First Time Buyer Tax Credit and in 2011 we did not have anything to stimulate the economy, 2011 does not look all that bad :)

Feb 15, 2012 10:33 PM #2
Ambassador
1,531,590
Ed Silva
RE/MAX Professionals, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Peggy, to look at the numbers the year could almost be considered a good year as the volume wasn't off that much nor were the prices. Considering the overall strength of our State's economy being almost as good should be considered great.

Feb 16, 2012 06:31 PM #3
Rainmaker
1,420,161
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Peggy, doesn't look like much difference, but sure & steady!     I hope 2012 is a GREAT year for real estate in Connecticut!

Feb 17, 2012 12:04 PM #4
Rainmaker
606,857
Barbara Altieri
RealtyQuest, Fairfield and New Haven County CT Homes for Sale and Real Estate - Shelton, CT
REALTOR - Fairfield County CT Real Estate

Peggy -- Great report.  Down in my area, some towns are up, others down. However, I do see a stability in the list and selling averages --- no huge dips.  The worst is behind us and with interest rates still low, I expect to see a lot more buyers getting off the fence before they are sorry they didn't act sooner.

Feb 17, 2012 02:17 PM #5
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Rainer
421,810

Peggy Chirico

REALTORĀ® 860-748-8900, Hartford & Tolland County Real Estate
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