February Market Report for Vernon CT
The Vernon real estate market was an active one in February with 13 closed sales and a median price of $140,000. The previous February, there were 8 closed sales with a median price of $148,950.
In comparing February numbers to January numbers, closed sales were up (11 in January) but median price was down ($196,500).
Here is the breakdown by price range:
| Price Range | February 2011 | February 2010 |
| Under $100,000 | 4 | 2 |
| $100,000-$149,999 | 3 | 2 |
| $149,999-$199,999 | 3 | 2 |
| $200,000-$249,999 | 1 | 1 |
| $250,000-$299,999 | - | 1 |
| $300,000-$349,999 | 1 | - |
| $350,000-$399,999 | 1 | - |
| Over $400,000 | - | - |
| Total | 13 | 8 |
There are also 4 houses under contract and 7 houses under deposit. With 109 properties currently on the market (including those under contract and deposit), the absorption rate in Vernon is 8.3 months. While this indicates a buyer's market, Vernon's real estate market is moving more quickly than some surrounding towns.
If you are currently looking for a home in Vernon, CT there are 98 active listings (those that don't currently have a contract for purchase) ranging in price from $59,900 for a mobile home to $410,000 for a 2500 sq. ft. ranch. The median price is $209,450. You can narrow your search by using the form below to see exactly what is on the market in Vernon. Please contact me if you would like help with your search.
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Peggy Chirico, REALTOR®
Serving the Greater Hartford Area
Prudential CT Realty
peggychirico@gmail.com
860-748-8900
If you are buying or selling a home in Hartford County or Tolland County, please call me, email me, or visit my website. I would be happy to help you with your home search or provide a market analysis for your home.
Find your dream home now!
Peggy -- Woohoo! Vernon sales are up in almost all price ranges! Hope the trend continues.
Hi Peggy,
Well the good news is sales are up over last year and last month. But it is still a buyer's market with 8+ months of inventory. I like your format, easy to read and understand.
Lisa
Hi Barbara - Thanks, and I hope it continues. How are things in your area?
Hi Lisa - Buyers do have a lot to choose from, but inventory is down from last year too.
Peggy, it looks like you are having great success with those homes under $100K, but median price is declining. Hope it gets better moving into spring!
Hi Joan - The numbers are encouraging, but it's much better to get an idea of median price over a longer period of time. With small numbers of sales, the information can look really skewed. I am hoping for a very strong spring market.