Shelton CT Real estate market report January 2018
The Shelton real estate market for December 2017 was not quite as busy as the same period last year when the total sales were 41 compared to this year at 27, a decrease of about 35%. I believe the reason that this number dropped is due to the fact that there are fewer homes on the market combined with the fact that we had an unusually cold December.
The most noticeable item from December is that the highest price of a home sold was over $1.2 million. There have only been five homes that have sold in Shelton for over $1 million in the past 10 years. With that, it drove up the average selling price for December to $345,064 which is about 9% more than the previous year.
We still remain in a "seller's market" due to the shortage of inventory that continues here in Shelton. There are still plenty of buyer's looking to purchase a home, but their choices remain limited. Some will hold out for the spring market, when, historically, many more homes come on the market. Seller's are encouraged to list their homes now, before the competition grows.