Wilton real estate sales off to a good start
The real estate market in Wilton is looking good for the first quarter of 2019.
According to a report by Halstead Real Estate, for the period of January, February and March 2019, Wilton closings were up 17.6 percent, with 40 closings on single-family homes compared to 34 in the same period in 2018.
The total sales volume for the first quarter of 2019 was $30,755,000, compared to $28,386,875 in 2018, an 8.3-percent increase.
The three-month average closing price for single-family homes for the first quarter of 2019 was $768,875, which was lower than $834,908 from the same time last year.
The lower average sales price was due to a greater number of homes being sold in the lower price range, according to John DiCenzo, executive director of sales for Westport and Wilton for Halstead.
“There generally has been more activity in the bottom half of the market since the recession,” DiCenzo said.
Of the 40 homes sold so far in 2019, 21 homes — one more than half — were in the $500,000- to $700,000- range.
There were fewer sales on the higher end. Ten homes were sold in the $700,000- to $1 million- range, and nine between $1 million and $2 million. “There are fewer buyers available to buy those higher-priced homes,” DiCenzo said.
Overall, he believes the real estate market is going well in Wilton. “While it is early, I do think the results are positive so far for 2019,” DiCenzo said.
There are 15 home sales still pending from March, which he says is a good sign. “I use pending house sales that are in the pipeline as a barometer for what might be happening in the next 30 days,” he said.
Condominium sales were down slightly in the first quarter of 2019.
The total sales volume for condos for the first quarter was $724,900, compared to $819,500 for the same period in 2018, an 11.5-percent decrease.
There were three condos sold from January through March 2019, compared to four condos sold in the same period last year. The average condo price was $241,633, up 17.9 percent compared to $204,875 from last year.
Halstead’s data was sourced from the Connecticut Smart MLS and Greenwich MLS.