Groton Real Estate Market Report 4/16/2014

The Groton Real Estate Market Report is a monthly statement of the median sales price for homes, the number of sales, the average price per square foot for homes, the number of homes for sale, and the average listing price of Groton homes for sale.

According to Trulia.com, the median sales price for homes in Groton from Jan 14 to Apr 14 was $125,000 based on 11 sales.

Compared to the same period one year ago, the median sales price in Groton decreased 20.9%, or $33,000, and the number of sales decreased 64.5%.

Average price per square foot for homes in Groton was $117, a decrease of 10.7% compared to the same period last year.

There are currently 242 resale and new homes Groton on Trulia, including 2 open houses, as well as 42 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process.

The average listing price for homes for sale in Groton was $403,883 for the week ending Apr 02, which represents an increase of 14.5%, or $50,993, compared to the prior week.According to Zillow, the median home value in Groton is $185,500. 

Groton home values have declined -3.4% over the past year and Zillow predicts they will rise 1.7% within the next year.

The median list price per square foot in Groton is $137, which is higher than the Poquonock Bridge average of $135. The median price of homes currently listed in 06340 is $179,900 while the median price of homes that sold is $135,077.

Foreclosures will be a factor impacting home values in the next several years. In Groton 7.7 homes are foreclosed (per 10,000). This is lower than the Poquonock Bridge value of 94.1 and also greater than the national value of 5.0

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Groton is 7.1%, which is lower than the national value of 8.0%.

With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Groton homeowners underwater on their mortgage is 27.8%.


For graphs of the Real Estate Market Report CLICK HERE.

Bridget Morrissey
Licensed in Connecticut and Rhode Island

Bridget Morrissey is a 2012-13 Woman of FIRE (FINANCE-INSURANCE-REALESTATE) Recipient awarded by the Warren Group and The Commercial Record of Boston, MA and presented by Lt Governor Nancy Wyman.
 
If you want to list your home for sale then call, text or email Bridget and ask for her FREE 27 point TOP DOLLAR MARKETING PLAN! 

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