Stamford CT – Sales Trends March 2014
Stamford Market Action Report March 2014
Median List Price Up – Median Sales Price Up
It is all good news in Stamford !
March Property sales were 80, down -2.4% from 82 in March of 2013 and 77.8% higher than the 45 sales last month. March 2014 sales were at a mid level compared to March of 2013 and 2012. March YTD sales of 208 are running -2.8% behind last year’s year-to-date sales of 214.
The Median Sales Price in March was $402,500, up 20.1% from $335,000 in March of 2013 and up 14.3% from $352,000 last month. The Average Sales Price in March was $491,204, up 6.3% from $461,883 in March of 2013 and up 22.7% from $400,289 last month. March 2014 ASP was at highest level compared to March of 2013 and 2012.
Inventory & MSI
The Total Inventory of Properties available for sale as of March was 625, up 5.8% from 591 last month and down -20.8% from 789 in March of last year. March 2014 Inventory was at the lowest level compared to March of 2013 and 2012.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The March 2014 MSI of 7.8 months was at its lowest level compared with March of 2013 and 2012.
The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for March was 165, up 4.4% from 158 days last month and down -8.8% from 181 days in March of last year. The March 2014 DOM was at a mid range compared with March of 2013 and 2012.
Selling Price per Square Foot
The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the ‘mix’ of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The March 2014 Selling Price per Square Foot of $249 was equal to $249 last month and up 7.8% from $231 in March of last year.
Selling Price vs Listing Price
The Selling Price vs Listing Price reveals the average amount that Sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. The March 2014 Selling Price vs List Price of 96.9% was down from 97.6% last month and up from 94.3% in March of last year.
Inventory / New Listings / Sales
‘This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in March 2014 was 232, up 56.8% from 148 last month and up 22.8% from 189 in March of last year.
Based on information from Greater Fairfield County CMLS, Inc. for the period 5/31/2003 1:00:00 AM through 3/31/2014. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data accuracy. Data maintained by the MLS’s may not reflect all real estate activity in the market.
Posted on April 2, 2014, in Uncategorized and tagged 06901, Average Sales Price, Buy a house, Charles Nedder, Coldwell Banker, International Real Estate, Median Sales Price, Property Sales March Property sales, Stamford CT Downtown, Stamford CT homes for sale, Stamford Homes, Stamford Market Action Report March 2014. Bookmark the permalink. Leave a comment.