Tolland CT Market Report for September 2011
It was a stunning September for Tolland CT real estate. Posting the highest month in 2011, September came in at 20 closed sales with a median price of $297,575. This September also showed significant gains over last September, which had 10 closed sales with a median price of $234,000.
Here is the breakdown by price range:
| Price Range | September 2011 | September 2010 |
| Under $100,000 | - | - |
| $100,000-$149,999 | - | - |
| $149,999-$199,999 | 5 | 1 |
| $200,000-$249,999 | 2 | 5 |
| $250,000-$299,999 | 4 | 1 |
| $300,000-$349,999 | 3 | 1 |
| $350,000-$399,999 | 2 | 2 |
| Over $400,000 | 4 | - |
| Total | 20 | 10 |
What was behind this jump in sales? We can only speculate, but Tolland has always been prized for its school system and it was named one of the top places to live by Money Magazine. Did people read that and decide to take the plunge? Or were people just trying to get settled at the start of the school year? Or is this truly a turnaround for Tolland real estate? We will have to wait and see what the next few months show; however, there are currently 9 homes under contract and 14 under deposit.
Median prices have shown great variability, but the past several months have seen fairly stable levels--and good ones at that (from sellers' perspectives)! Here is a recap of closed sales and median prices by month for 2011:
| Month | # of Closed Sales | Median Price |
| September | 20 | $297,575 |
| August | 9 | $312,000 |
| July | 10 | $337,750 |
| June | 12 | $281,000 |
| May | 7 | $225,000 |
| April | 7 | $168,000 |
| March | 4 | $344,750 |
| February | 10 | $220,000 |
| January | 3 | $209,900 |
There are currently 105 homes on the market, ranging in price from $115,000 for a three-bedroom, 1.1 bath split level to a $1.3 million six-bedroom, five-bath colonial/cape with 4500 sq. ft. The median price is $299,900. Given the current levels of inventory, the absorption rate in Tolland CT is 6.4 months, which is clearly a neutral market. This is great news for sellers in Tolland CT. If you are interested in finding out what is on the market in Tolland CT, you can enter your search criteria and see for yourself. If you prefer, contact me and I will be glad to help you 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!
I like your format Peggy! Good market report
Hi Peggy good looking post for a market report lots of information and I hope it is working for you.