Archived Market Report
Waterbury was the only local market to see gains in terms of the number of sales, with an increase of 5%. Although modest it still reflects the desirability of this location. The market continued to excel in terms of the sales price compared to listing price, which was up by almost 1.5%. The average and median sales prices increased by 15% and 19%, respectively. The average sales price went from $518K to $598K and the median sales price went from $440K to $525K. There was a large drop in average and median days on market, 45% and 33% respectively. There are 8 active listings available, ranging from $295K to $850K, this is an increase of 23% compared to a year ago.
One land parcel sold in Q3 2022 compared to 3 during the same period last year. There are currently only 3 parcels on the market priced between $175K and $450K.
Given Waterbury’s overall size and lack of inventory, we expect the sales there to continue to flow quickly through the market as they come on. Interest rates might have a slowing effect, but with so few options to choose from that may take past Q4 2022 and into 2023 to come to fruition.
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