What’s My Waterbury CT Home’s Value May 2023
Waterbury CT is the second largest town in New Haven County with a population of app
115,000. It is 33 miles southwest of Hartford, 25 miles north of New Haven and 77 miles northwest of New York City.
The larger factories that once dominated the Connecticut manufacturing economy are no longer in Waterbury, essentially changing form the brass mills they used for raw materials and converting to cheaper and lighter aluminum or plastic.
Currently in Waterbury CT there are 57 active residential listings for sale. The homes for sale in Waterbury CT range from an 865 square ft, 2-bedroom contemporary listed at $155,000 to a 4,042 square ft, 5-bedroom colonial listed at $775,000. These listings are within the town zip codes of 06702, 06704, 06705, 06706, 06708, 06710, and 06720.
Search for Homes in Waterbury CT
The average list price of the homes currently available for sale in Waterbury CT is $282,372. This represents a drop of a 1% from the previous month. The average days on market for these homes are 41 days. There are currently 50 homes under pending status and 81 homes under hard deposit in Waterbury CT.
In May 2023, 58 homes closed in Waterbury CT. They ranged from an 1,024 square ft, 3-bedroom half duplex, which sold for $50,000 to a 2,495 square ft, 4-bedroom colonial that sold for $410,000. The average price for the closed properties was $243,675 with average DOM of 48 days. The average price is a 2% increase in values over the previous month.
For a comparison, there were 78 closings in Waterbury CT for the month of May 2022, with an average price of $234,921 and avg. days on market of 29. This shows that for May 2023, there were 20 less homes sold than in the same period the previous year, but there was an 4% average increase in value and slightly longer days on market.
Even though interest rates are higher, the values are still greater than the previous year.
For the year 2022, the market sales or absorption rate was 77 sales per month, with an average sales value of $229,826 and average days on market of 36.
With this absorption rate the current inventory equates to less than a 1 month inventory which is still a strong seller's market, but with interest rate concerns, prices are not showing any appreciable decline
The graph demonstrates the average monthly sales value in Waterbury CT with minimal fluctuations from month to month. The values in Waterbury CT continue are showing a slight decline in sales values and activity has slowed wither due to a rise in interest rates or seasonal lull. It is still, however a strong seller's market.
For sellers it is essential to have a sales price on your home consistent with the most recent activity. We offer free market evaluations to assist you in your sale.
If you would like information on homes for sale in Waterbury CT, please call me at 203-206-0754 or send me an email. I would be happy to assist you or to discuss homes on the market in Waterbury CT.
May 2023 Real Estate Sales Report for Waterbury CT
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