Peggy Chirico ~ Hartford & Tolland County Real Estate Blog

The Year in Review - Vernon CT Median Home Prices

Like other towns in the area, Vernon experienced two spikes in the number of home sales during 2010--one in June when the homebuyer tax credit expired and one at the end of the year.  Let's look at the number of closed sales by month for the year 2010:

Now let's take a look at the median prices for each month during 2010 in Vernon CT.

For the year, the total number of closed sales was 170 in 2010 compared to 222 in 2009.  The median price for the entire year was $191,000 in 2010, compared to $194,450 in 2009.  So while there was a significant decrease in the number of sales, the median price fell only slightly.

Another interesting observation is that median days on market was 39.5 in 2010, compared to 47 in 2009.

The Year in Review - Median Home Prices in East Hartford CT

2010 was an interesting year in real estate, and statistics don't tell the entire story.  As you can see from the charts below, the number of sales by month and the monthly median home prices fluctuated widely.  Let's look first at the number of sales:

As was the case in the reports on other towns, East Hartford had a large bump in the number of closed sales as a result of the homebuyer tax credit which ran out on 6/30/10. 

If we look at the median home prices by month, we will note a downward-looking trend as the year goes on.

However, another factor contributed to the median home prices--the number of bank-owned properties and distressed sales that occurred in East Hartford.  That market had more than its share of distressed sales, resulting in lower median prices.

If we look at the year as a whole, however, we will see that the median price in 2010 was $155,000 (for 341 closed sales) compared to a median price in 2009 of $158,000 (for 409 closed sales).  So while the number of sales went down, the median price remained relatively unchanged.  Another interesting fact is that the median days on market (DOM) in 2010 was 40 compared to 45 days on market in 2009.

The Year in Review - Median Home Prices in South Windsor CT

This year has been quite a challenge with closed sales and median prices seeming to take a roller coaster ride.  The homebuyer tax credit which expired in June provided a hump in the middle of the year, but the year ended on a strong note with 26 closed sales in December.  Let's look first at closed sales by month:

Now let's take a look at median price by month:

If we look at the median for the entire year, it is $274,450 (202 closed sales) compared with $276,000 (212 closed sales) in 2009.  Overall, the market in South Windsor seems relatively unchanged from the prior year.

The Year in Review - Median Home Prices in Manchester CT

2010 was a tough year for analyzing statistics about median home prices in Manchester, CT.  Other towns were difficult as well.  But with year-end, we can finally see if we can determine any trends for the housing market in Manchester.

One of the issues was the first-time homebuyer tax credit, which was an incentive for people to get into the housing market.  The credit expired on 6/30/10 and we did see a frenzy of activity during May and June as the deadline loomed.  First let's look at the number of single-family homes that closed by month:

Now let's take a look at median price:

If we look at the entire year, the median price for 2010 is $185,000 (355 closed sales), compared with a median price in 2009 of $188,375 (with 460 closed sales).  So overall, the number of sales is down significantly, the median price remains relatively stable.

For further discussion of  statistics in real estate, see Understanding Market Statistics.