What's for Sale?

As of April 1, 2013, in Canton, there were 61 single family homes either New to the market (7 days) or Active. There were 11 (18%) under $250,000, 17 (28%) from $250,000 -$399,999, 14 (23%) from $400,000-$599,999 and 19 (31%) over $600,000. As of January 1, 2013 there were 60, and 59 as of February 1 and March 1, 2013. A year ago as of April 1, 2012 there were 78 (28% more), with 63 as of January 1, 84 as of February 1 and 85 as of March 1. The current supply of homes is lower, and based on the law of supply and demand with every other variable being constant, homes tend to be more valuable.
The number of single family homes that are either in Show (Seller wishes to keep home on market for back-up offers)or Deposit (Listing is considered to be “offmarket) is considered as a good leading indicator of future closed transactions. That number as of April 1, 2013 is 24, an increase from the prior few months average of 21. As a comparison, as of April 1, 2012, the number of Show and Deposits was only 16. The current number is 50% higher.
The next blog post will be after the March sold numbers are finalized, next week.
The above statistics are based on information provided to and compiled by the Connecticut Multiple Listing Service, Inc. covering the period April 1, 2012 through April 1, 2013