Hamden, CT: As the slowest real estate season of the year approaches, listing prices start to drop and home marketing times skyrocket:
In a recurring yearly cycle, Hamden real estate sales peak in spring and summer, start to fall through fall and reaching their lowest point of the year over winter. Mid November has home marketing times at a year high of 89 days on market, up from the seasons shortest time of 26 days in June.
Listing prices also fall during this time – not necessarily due to an overall value drop in all home values, but simply due to the nature of the season. Those with free pick of when to sell will generally enter market much earlier in the year or wait until the next. Sellers who are more motivated to sell or in time sensitive situations are the ones more likely to be entering marketing during this time – reflecting the lower average listing price, currently at a median of $164,900.
If you need to sell now, you should price aggressively to beat competition and sell quickly during this slower season. If you are buying, there will be less inventory, but more motivated sellers and the best deals of the year generally happen during this time.
Last Updated on November 15, 2017 by Minna Reid