Peggy Chirico ~ Hartford & Tolland County Real Estate Blog: Connecticut: South Windsor

South Windsor CT Market Report for December 2011

The number of closed sales in South Windsor CT was up in December over the previous month (17 closed sales in December compared to 13 closed sales in November).  The median price was also up from $240,000 in November to $249,900 in December.

However, compared to last December, both number of closed sales and median price were down.  Last December showed 26 closed sales and a median price of $256,000.  The only bright spot there was that the number of homes sold over $400,000 remained the same.  Here is the breakdown by price range:

Like many other towns, South Windsor's median price and number of closed sales have had their ups and downs this year as shown in the table below:

But the really interesting aspect of the South Windsor real estate market is that there are currently just 75 homes on the market.  Given that there are 17 homes under contract and 13 houses under deposit, the absorption rate in South Windsor CT is just 6.2 months, which is one of the lowest absorption rates around.

If you are interested in finding a home in South Windsor CT, the homes range from $16,500 for a two-bedroom, 1.1-bath, 520 sq. ft. mobile home to a $1.3 million for a six-bedroom, two-bath, 3054 sq. ft. colonial on 75 acres. The median price is $269,900, with 30 homes for sale between $200,000 and $300,000, so if that's your price range, you have some options.  However, with the limited inventory, buyers will need to be competitive in their offers, especially if the property is in a good location and in good condition.

If you are thinking about putting your home on the market, there will be less competition so you can expect that your home won't be on the market long, especially if you price it well.

Whether you are thinking about buying or selling in South Windsor CT, please give me a call. I would be glad to help you achieve your goals. 

December's Season of Celebrations and Sharing ~ Gingerbread Festival in South Windsor CT

I had a chance to visit the Gingerbread Festival at Wood Memorial Library in South Windsor CT.  The wonderful smell of gingerbread overtakes you as soon as you walk in the front door.  What a fun event!  There are over 50 gingerbread houses built by various businesses, groups, clubs, and individuals (both adults and children).

South Windsor CT Market Report for November 2011

The weather following our freak snowstorm on October 29 was wild and crazy, but the real estate market was pretty tame in South Windsor CT during November 2011.  There were 13 homes sold compared with 14 homes sold in November 2010.  The total homes sold per month were at the lowest since March 2011.

In November 2011, the median price was $240,000, compared with a median price of $281,950 in November 2010.  Here are the properties that sold in November 2011 in South Windsor CT.

The median price also took a hit when compared to the past few months.  Here is a recap of the number of closed sales and median price by month for 2011 to date:

On a brighter note, however, there are 6 homes under contract and 22 under deposit, so we will have to wait and see how many properties close by the end of the year.

The South Windsor CT has always been a desireable real estate market, and buyers hoping to find their next house in South Windsor only have 77 homes to choose from.  They range in price from $14,900 for a two-bedroom, one-bath 700 sq. ft. mobile home to $1.3 million for a six-bedroom, two-bath, 3054 sq. ft. farmhouse on 75 acres.  The median price of homes on the market is $269,900.

Given the inventory, the absorption rate for South Windsor is 8.08 months.  Of course, with such a wide range of prices, buyers need to realize that there are quite a bit fewer homes at their preferred price point. If you are buying or selling a home in South Windsor CT, please contact me if you would like more information about the South Windsor CT real estate market.

South Windsor Market Report for October 2011

During October 2011, there were 14 closed sales in South Windsor CT with a median price of $275,000. There were 14 closed sales in October 2010, but the median price was $259,900.  So year over year comparison for October shows that sales were the same, but the median price rose.

Another interesting statistic is that while days on market (DOM) increased in October 2011 compared to October 2010 (64 vs. 33 in 2010), the sale price to list price ratio increased (97.4% iin October 2011 vs. 95.25% in October 2010).

Here is the breakdown by price range:

If we look at how October compared to the prior months, we can see from the following chart that the number of closed sales is dropping off from prior months, but the median price of $275,000 is pivoting around the center of a low of $218,500 in May to a high of $313,385 in September.  How do we explain the surge in number of sales during the summer months? Quite possibly, people wanted to get settled prior to the start of the school year.  Here is the recap of the year so far:

In addition to closed sales, there are 6 houses under contract and 22 houses under deposit.  We will have to see how November's closed sales go. Because of the massive power outages, some closings may be delayed as the houses under deposit may need to have damages repaired from the storm and appraisals rechecked.

If you are looking for a house in South Windsor CT, there are currently 86 homes for sale, ranging from $19,500 for a two-bedroom, one-bath mobile home to a six-bedroom, two-bath colonial farmhouse for $1.3 million.  The median price is $287,400.

Inventory is down from the prior month so if you are a seller, that is good news, but if you are a buyer, you may find competition if you find a house you like.  At the current levels, the absorption rate for South Windsor CT is 8 months.  You can search for homes in South Windsor by setting the criteria for what you want.  Give me a call if you see something that interests you.

South Windsor Condo Report for September 2011

During September 2011, there were 9 closed condo sales with a median price of $152,000.  During September 2010, there were also 9 closed sales, but the median price was $136,500.  So that's a nice rally in median price.  Here are the units by complex that sold:

Bryrewood

• 206 Twin Circle Drive - 2BD/2BA/1066SF sold for $124,900
• 611 Twin Circle Drive - 2BD/2BA/1066SF sold for $131,000

Cinnamon Springs

• 50 Cinnamon Springs - 2BD/1BA/975SF sold for $91,900

Pleasant Hills

• 16 Arthur Drive - 2BD/2BA/1174SF sold for $187,500

Plum Ridge

• 719 Sandstone Drive - 3BD/2.1BA/1900SF sold for $223,000

Strawbridge

• 701 Mill Pond Drive - 2BD/1.1BA/1300SF sold for $149,000
• 403 Mill Pond Drive - 2BD/2.1BA/1485SF sold for $165,000
• 203 Mill Pond Drive - 2BD/2.1BA/1316SF sold for $185,000

Westage

• 2-D Amato Drive - 2BD/1.1BA/1457SF sold for $152,000

There are also 10 condos under contract and 7 condos under deposit.  So it looks like the numbers should hold up well over the next few months as well.  

Buying a condo in South Windsor CT is a great way to gain entry into a desirable town at affordable prices.  If you are looking for a condo in South Windsor CT, there are currently 47 on the market, with a median price of $139,900.  Available units range from $75,044 for a two-bedroom, one-bath, 965 sf. unit at Cinnamon Springs to $275,000 for a two-bedroom, two-bath 1515 sf. unit at Smith's Corner, a 55+ complex.  Please give me a call if you would like information about any complexes that you are interested in.

South Windsor CT Market Report for September 2011

After reporting an Awesome August for the real estate market in South Windsor CT, I was waiting (and hoping) to see if this upward trend in number of closed sales could continue.  The results are mixed, in that September's closed sales were down (16 compared to August's 25) but they were up compared to last September (7).

However, in terms of median price, we would have to say that September was sizzling with a median price of $313,385!  It seems that we are finally seeing a rise in sales in the upper price ranges which is always a good sign.  This is starting to become evident in other towns as well so, at least for now, we can be moderately hopeful that the real estate market is on the rise.

Here is the breakdown by price range:

In addition to the number of closed sales, there are currently 8 homes under contract and 28 homes under deposit.  If you are looking for a home in South Windsor, there are currently only 96 homes on the market with a median price of $258,950.  Inventory is shrinking which means that sellers will gain an advantage and buyers may find themselves in multiple-offer situations, especially for homes that are priced well.  Here is a recap of closed sales and median price by month in South Windsor CT:

With all the homes that haven't yet closed and those that are currently active, the absorption rate is 8.2 months across all price ranges.  If you are looking in a particular price range, I would be glad to tell you the absorption rate for that price range.  South Windsor remains a popular market, median prices are on the rise, and inventory is shrinking.  Please feel free to browse the listings or contact me if you would like help with your search.

South Windsor Condo Report for August 2011

During August 2011, there were 6 closed sales with a median price of $155,575, compared to 7 closed sales with a median price of $136,500 in August 2010.   So overall, comparing month over month, August 2011 showed very favorably when compared to August 2010, especially in median price.

The condos that closed in August were:

• PLEASANT VALLEY: 949 Pleasant Valley Road (Unit 3-10) - 2BD/1BA/814SF for $103,000
• WESTAGE: 22 Amato Drive (Unit I) - 1BD/1BA/763SF for $118,750
• BRYREWOOD: 106 Twin Circle - 2BD/2BA/1066SF -$127,900
• PLEASANT HILLS: 18 Arthur Drive (Unit 4) - 2BD/1.1BA/1100SF - $183,250
• STRAWBRIDGE: 1302 Mill Pond Drive - 2BD/2BA/1300SF - $200,000
• PLUM RIDGE: 204 Sand Stone Drive - 3BD/3BA/1720SF - $231,000

When we look at condo sales by month for 2011, August took a bit of a dip in both number of sales and median price.  Here is a recap of total sales and median price by month: 

Although the total number of closed sales was down from the previous month, there were other bright spots about August sales.  First, the sale to list price ratio was 98%,   the median days on the market were 18, and there are currently 4 condos under contract and 12 condos under deposit.  

There are also 51 units on the market, ranging in price from $82,900 for a one bedroom, one bath condo at Pleasant Valley to $275,000 for a two bedroom, two bath condo in a 55+ community.  The median price for all active listings is $159,500.  

If you are looking to move into South Windsor, you should consider some of the very affordable condos available.  If you need help with your search, don't hesitate to call me.

The Wapping Fair in South Windsor CT Starts September 8, 2011

One of the great traditions of South Windsor CT is the Wapping Fair.  The Wapping Fair began in 1892 to help the Wapping School District.  The location has changed several times over the years, but in 2007 it left Rye Street Park where it had been for almost 40 years and was set up in Evergreen Walk.  Year after year, the fair continues to be a great success in terms of attendance and growth of exhibits and events.

The South Windsor Jaycees sponsors and organizes the event Wapping Fair and uses the proceeds toward various community projects.  In the past, money has been donated to town departments and services and to fund many of the programs that the Jaycees sponsor throughout the year.

This year will continue many of the main events of recent years, but it will also focus on life in the "olden" days with demonstrations of candle making, wood carving, and chair making.  In addition, some of the highlights this year include:

• Amusement Rides
• Hot Dog Pig Races
• Sword Swallower, Roderick Russell
• Acrobat and Contortionist, Jayna Lee
• Beyond Limitz Wrestling
• Ed the Wizard
• Doodlebugs
• Ronald McDonald
• Animal demonstrations
• Contests (including baking, quilting, art, spelling)
• Food Vendors

There are also many music events planned throughout the entire fair.  For a schedule of performers, you can download the 2011 Entertainment Lineup.

The fair will be open Thursday, September 8, 2011 through Sunday, September 11, 2011.

• Thursday:  6:00 PM to 10:00 PM
• Friday:      6:00 PM to 11:00 PM
• Saturday: 10:00 AM to 11:00 PM
• Sunday:   10:00 AM to 6:00 PM

Tickets are:

• Adults: $6
• Children over 57":    $6
• Children under 57":  Free
• Seniors (65 and older): $3

For information on ride bracelets (unlimited rides) and $3 off coupons, check out the Wapping Fair's General Information Page.  Here you can also get indepth information on all the activities that are offered.

Or you can just visit, stroll around, and find out for yourself what a great time the Wapping Fair in South Windsor CT is!

Awesome August for South Windsor CT Real Estate Market

During August 2011, there were 25 closed sales in South Windsor CT with a median price of $240,000.  This is almost DOUBLE the number of closed sales of August 2010, which showed 13 closed sales and a median price of $237,000.  So both number of sales and median price were up this year over last.

Here are the closed sales by price range:

August closed sales were also a steady rise over the previous months of 2011, with 17 closed sales in April, 20 closed sales in May, 21 closed sales in June, and 21 closed sales in July.  The median price for the first seven months of the year was $254,900, so the median price was down 5.85% in August. 

One of the reasons that August sales were rising may have been that people wanted to be settled in their new homes before the start of school.  Whether or not people have children in the South Windsor school system, many people feel that South Windsor is a desireable location to live.

In addition to the closed sales in August, there are 5 homes under contract and 23 homes under deposit, so we can expect that September numbers will be robust as well.

If you are looking for a home in South Windsor CT, there are currently 101 homes on the market with a median price of $275,000.  This means that the absorption rate for South Windsor is 5.16 months, which is one of lowest levels of inventory of surrounding towns.  Five months' of inventory is clearly a neutral market, so sellers can expect that they will sell their homes in a reasonable amount of time if it is priced appropriately; buyers can expect that they may face competition in making offers as well. 

South Windsor Condo Report ~ July 2011

The condo market in South Windsor was a busy one in July 2011 with 12 closed sales and a median price of $165,250.  In July 2010, there were 10 closed sales with a median price of $172,000, so although the median price was somewhat lower this year, the number of sales was up.

To put this in perspective, however, we must take a look at condo sales month-by-month in South Windsor to really see how significant July was.  Here are the number of closed sales, and median price from January to July:

So June and July were two very solid months of activity for condo sales in South Windsor CT, significantly up from the previous months.  In addition, there are currently 5 units under contract and 12 units under deposit.

The South Windsor condo market offers some very attractive opportunities for moving into South Windsor CT, which has always been a desireable location.  With interest rates as low as they are and with affordable options in condos, it is not at all surprising that people are taking advantage of the opportunities.

If you are looking for a condo in South Windsor CT, there are currently 50 units on the market ranging in price from $82,900 for a one-bedroom, one-bath unit to $275,000 for a two-bedroom, two-bath 55+ unit.  The median price of all the units on the market is $147,450!  That means that there are 25 units priced at $147,450 or lower!

If you have been paying rent and wondering if you could start building equity in your own place, give me a call. I will refer you to reputable mortgage people who will tell you exactly what you need to know, and then we will start setting up showings.  Home ownership could be closer than you think.