October Stonington Report
Stonington Realtor Bridget Morrissey reports that the median sales price for homes for sale in Stonington rose to $350,000 while the median estimated home value is $394,000. Three and four bedroom homes were the most popular, as expected. Nine 3 BR homes were sold at an average of $342,533 while eight 4 BR homes sold had an average sales price of $556,250. 21 pending sales average $447,333. Twelve of the 19 homes sold were on the market for 90 days or less with seven only requiring a month or less to sell. With prices rising, low mortgage rates and homes selling quickly all indicators are pointing to a low inventory of available homes for sale.
However, the presidential election cycle and fears of recession could change the direction that home values are going.
For more information about Stonington homes for sale call or text Stonington Realtor Bridget Morrissey at 860-857-5165.