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Maria Gilda Racelis

Vernon Connecticut Real Estate Market Report-January 2014

Vernon Connecticut Real Estate.

Vernon Connecticut was a part of the Town of Bolton until 1808. This explains why the two lakes which expanse are mostly in Vernon are called Middle Bolton Lake and Upper Bolton Lake.  In 1965, the City of Rockville and the Town of Vernon were consolidated into a single township. The Rockville area gives the town the city setting and subsequently, the rural feel is exuded by the areas which used to be part of Bolton.

Vernon is a diversified town located in Tolland County and 15 minutes east of Hartford. New England Civil War Museum is just one of Vernon’s points of interest. Recreation parks and lakes can be found in this 18.03-mile community. Vernon provides easy access to I-84 and other major routes to Massachusetts and New York.

The table below shows that currently, Vernon has 121 homes for sale. The most expensive home is listed for $450,000 and has been on the market for 654 days. The average listing price is $202,000 and the average square feet is 1,726.

(Click on the images to enlarge view)

vernon connecticut real estate

Out of the 121 listings, 46 have been on the market for more than 120 days.

vernon connecticut real estate

The Days on the Market does not show any specific pattern to determine what homes’ price range or bracket that usually stays on the market longer. The most likely and probable answer is that houses priced right and competively sold faster. However, the current trend shows that houses between $300K-$399K take longer to sell.

vernon connecticut real estate

Below is the data for sold properties dating 6 months back as of this writing. There were 100 properties sold with $410,000 as the most expensive and $7500 as the cheapest with 672 square feet.

vernon connecticut real estate

What is significant about the report below is that only 5 properties took more than 120 days to sell. Currently, there are 46 properties for sale over 120 days. The most expensive home which sold for $410,000 took only 155 days compared to the 654 days on the market for the current most expensive listing price at $450,000.

vernon connecticut real estate

Absorption Rate: “The rate at which available homes are sold in a specific real estate market during a given time period.” Based on the 6-month history, 16.67 homes were sold each month. This means that at this given rate, it will take 7.28 months to sell the current inventory of 121 homes. Vernon Connecticut Real Estate, albeit slow, will perform better this year, hopefully.

Homes for Sale in Vernon Connecticut

 

 

 

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Maria Gilda Racelis
I am a full-time realtor and a no-nonsense individual when it comes to rendering services to my clients. I take my job and the responsibility it entails seriously. My clients come first. I ensure that they know and feel I am working for their best interest. However, I do not carry out tasks to compromise my principle. I conduct my business with pride, honesty and integrity.
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