December brought an end-of-year uptick in closings to the Wilton real estate market. While a traditionally slow sales month, this year’s 16 topped 2014 by more than 30%. With the exception of the surprisingly strong 2013, we have not seen December sales at this level since 2005. This trend did not follow in the level of the sales. The median price was down more than $135,000 or over 15%. The average sale level trailed December 2014 by just under 12%, more than $109,000. The inventory dropped almost 49% to 80 active single-family properties. Only in 2014 have we seen lower inventory and then by a single property. While the average inventory price is down to around $1,020,000 (about $600,000 less than the average in 2014) that is due in large part to a few very high-end properties being off the market.
The increase in December sales compared to 2014 allowed unit sales to finish less than 10% below the annual level for last year. Median sales price was exactly the same as last year. The average sale fell approximately $36,000 or just under 4%. This left the total single-family revenue down 13%.