Peter LaMastro Real Estate
Connecticut Real Estate
buy | sell | invest
Menu
Stratford Market Report August 2021
Market Overview
Although 2021 has been a strong year for real estate sales in Stratford, the median sales price for a single family home was slightly down in July from $373,000 in June to $362,500. However, for the year, home values are still up over 10%. The number of homes sold dropped, from 81 to 64, and the number of active listings increased from 141 to 168. Although there were fewer home sales, they sold quicker in July by 5 days. Days on market was a low 26 days. The months of inventory rose from 2.2 months in June to 2.6; a move towards a balanced market between buyers and sellers. However, Stratford is still well in seller-market territory, and has been for over two years. Historically, July has been a strong month over June. 2018 and 2019 saw home value increases in July, while 2020 saw a slight decrease. Buyers are still very active in Stratford, and finding great benefits from the continued low interest rates. The 30 year fixed rate mortgage was 2.8% by the end of July. It continues to be below 3% for the past 4 months. For anyone considering a move, this is still a great time to sell a house in Easton. Do you know anyone looking for more information about their real estate market? I’d be happy to help.
12 Month Sales Activity
Housing Stats
(change from previous month)
| Median Sale Price: | $362,500 |
| change: | -2.82% |
| YTD change: | 10.69% |
| Units Sold: | 64 |
| change: | -20.99% |
| Active Listings: | 168 |
| change: | 19.15% |
| New Listings: | 96 |
| change: | 0.00% |
| Days on Market: | 26 |
| change: | -16.13% |
| Months of Supply: | 2.60 (Seller's Market) |
| change: | 18.18% |
Interest Rates
Market Temperature
Local Real Estate Price Trends
| Jun-21 | Jul-21 | Change | |
| Bethel | $515,000 | $500,000 | -2.91% |
| Bridgeport | $300,500 | $325,000 | 8.15% |
| Brookfield | $540,000 | $437,500 | -18.98% |
| Danbury | $447,500 | $400,000 | -10.61% |
| Easton | $889,450 | $682,000 | -23.32% |
| Fairfield | $765,000 | $706,500 | -7.65% |
| Milford | $432,500 | $404,500 | -6.47% |
| Monroe | $505,000 | $511,000 | 1.19% |
| Newtown | $572,500 | $500,000 | -12.66% |
| N. Haven | $342,500 | $438,500 | 28.03% |
| Orange | $461,500 | $500,000 | 8.34% |
| Oxford | $447,500 | $510,000 | 13.97% |
| Redding | $750,000 | $640,000 | -14.67% |
| Ridgefield | $757,500 | $875,000 | 15.51% |
| Seymour | $277,500 | $325,000 | 17.12% |
| Shelton | $419,900 | $442,500 | 5.38% |
| Stratford | $373,000 | $362,500 | -2.82% |
| Trumbull | $518,000 | $507,500 | -2.03% |
| Weston | $1,162,500 | $1,145,500 | -1.46% |
| Westport | $1,628,000 | $1,557,500 | -4.33% |
Tips
The Value of Using an Agent in Today’s Market
In an age where all the information we could possibly need is at our fingertips, many people have embraced a DIY lifestyle. But when it comes to real estate, it’s better to leave it to the pros. While saving commissions may seem appealing, you could end up losing time, money and bargaining power without a real estate agent’s expertise.
Why Do You Need a Real Estate Agent?
- An agent will devise a marketing plan specific to your home and will utilize their network to advertise your home to an audience you wouldn’t likely reach on your own.
- Agents are knowledgeable on the laws and regulations of the industry. Having an agent on your side can save you from legal troubles.
- Agents understand the market and can price your house to sell. They are also skilled negotiators that can get top dollar for your home.
Top 5 Home Improvements
Looking into home renovations? Here are the five improvements that will reward you the greatest ROI, according to RISMedia.com.
- As an eye-catching feature, garage door replacements boast the best ROI (94% of the cost) at resale time, especially with a strategic design that complements your home’s architectural style.
- Manufactured stone veneer is a high-reward, affordable siding material that can enhance both the curb appeal and interior design of your house.
- To maximize kitchen remodeling, opt for mid-range changes like refacing or replacing cabinets and countertops, updating fixtures and hardware, and/or replacing appliances.
- If stone veneer isn’t for you, try fiber cement siding for surfacing that looks like authentic wood but isn’t prone to warping and rotting.
- Window replacements will serve both your home’s aesthetic appeal as well as its energy efficiency.
Real Estate Headlines
Bidding War Winners Are Getting Cold Feet: Some home buyers are reportedly backing out of purchase contracts due to second-guessing the contract price, after winning a bidding war. The trend is most common in the Northeast and Mountain regions of the country. After losing out in several multiple offer situations, a buyer may head into a new bidding war with an “I’ll offer anything” attitude. After the jubilance of winning wears off, the reality of overpaying sets in. Many develop cold feet and back out of the contract, thus putting the now stigmatized house back on the market.
Sales of $1M-Plus Homes Soar: Unlike past housing booms, the real estate market is seeing a surge in sales at the very top of the housing market. More expensive properties are selling nearly twice as fast as lower and mid-priced homes. “Wealthier Americans have benefited greatly during the pandemic thanks to the rising stock market, which typically helps grow net wealth,” Lawrence Yun, chief economist at the National Association of REALTORS®, told The Washington Post. “So there’s greater demand for luxury housing now and that sector isn’t as hamstrung by inventory shortages as the rest of the market.”
MLS Finds That Listed Homes Sell for 17% More: In a two-year analysis, homes on a mid-Atlantic MLS sold for more money than similar homes that sold off of it. Bright MLS, a multiple listing service from Pennsylvania to Virginia, conducted the study of 442,829 records for home sales transactions completed between January 2019 and December 2020. The median sold on the MLS was about 17% higher than homes sold off of the MLS, through for sale by owner. The study found that the fastest sales for the most money use the MLS to market the homes for sale.
30-Year Mortgage Rate Dips to 2.77%: New fears over the fast-spreading COVID-19 delta variant are moving mortgage rates lower. The 30-year fixed-rate mortgage spent another week under 3%.
Delta Variant Could Cause Housing Volatility: The fast-spreading delta variant of the coronavirus is prompting more pandemic precautions to return. It’s also affecting the hot housing market and likely will continue to be housing’s wild card over the next few months, economists say. The fears of a more contagious version of the coronavirus could prompt some homeowners to delay selling their home, which would press on inventory levels just as they were starting to see some improvement. If buyer demand stays high and inventories fall again, that could then press on home prices even more and ignite more bidding wars for limited housing stock.
Upcoming Events
Connecticut’s event schedule is back this Summer, with outdoor concerts, plays, festivals, craft shows and more. So grab the family, hit the road and enjoy some of the area’s great fun filled events.
Sales Trends
July Single-Family Home Sales
(OLP: original list price • LP: list price • SP: sale price • DOM: days on market)
| Address | Style | sq ft | BR | BA (f/h) | OLP | LP | SP | SP/OLP | DOM |
| 306 Masarik Ave | Ranch | 816 | 2 | 1/0 | $150,000 | $150,000 | $154,600 | 103% | 2 |
| 150 Morehouse Ave | Cape Cod | 1,443 | 4 | 1/0 | $339,900 | $289,900 | $300,000 | 88% | 33 |
| 88 Monroe St | Colonial | 2,079 | 3 | 2/0 | $419,000 | $399,000 | $395,000 | 94% | 74 |
| 2491 Broadbridge Ave | Cape Cod | 1,414 | 3 | 2/1 | $399,900 | $399,900 | $420,000 | 105% | 71 |
| 106 4th Ave | Colonial | 5,546 | 4 | 3/2 | $1,195,000 | $1,195,000 | $1,135,000 | 95% | 16 |
| 387 Allyndale Dr | Colonial | 1,215 | 2 | 1/0 | $292,000 | $292,000 | $310,000 | 106% | 12 |
| 190 Kenwood Ave | Ranch | 1,170 | 3 | 1/0 | $312,900 | $312,900 | $315,000 | 101% | 9 |
| 115 Val Dr | Ranch | 1,204 | 2 | 1/0 | $339,900 | $339,900 | $340,500 | 100% | 67 |
| 46 Spring St | Cape Cod | 1,667 | 4 | 1/0 | $319,900 | $319,900 | $345,000 | 108% | 22 |
| 151 Park St | Cape Cod, Colonial | 1,614 | 3 | 1/1 | $329,900 | $329,900 | $350,000 | 106% | 29 |
| 138 Legion Ave | Cape Cod | 1,426 | 3 | 2/0 | $350,000 | $350,000 | $385,000 | 110% | 53 |
| 65 Meadowbrook Rd | Cape Cod | 1,634 | 3 | 1/0 | $330,000 | $330,000 | $365,000 | 111% | 11 |
| 105 Walker Dr | Contemporary, Ranch | 3,514 | 3 | 2/1 | $419,900 | $419,900 | $421,400 | 100% | 22 |
| 182 Reeds Ln | Ranch | 2,768 | 4 | 3/0 | $479,000 | $479,000 | $505,000 | 105% | 3 |
| 984 Prospect Dr | Colonial | 1,833 | 3 | 1/1 | $649,900 | $649,900 | $694,500 | 107% | 64 |
| 255 Franklin Ave | Ranch | 1,056 | 2 | 1/1 | $265,000 | $265,000 | $224,175 | 85% | 17 |
| 155 Rockland Ave | Cape Cod | 1,794 | 3 | 2/0 | $249,900 | $279,900 | $240,000 | 96% | 8 |
| 2134 Nichols Ave | Cape Cod | 1,282 | 3 | 2/0 | $339,000 | $339,000 | $329,900 | 97% | 12 |
| 3923 Main St | Cape Cod | 1,571 | 3 | 1/0 | $299,900 | $299,900 | $330,000 | 110% | 67 |
| 318 Burbank Ave | Ranch | 1,215 | 3 | 1/0 | $299,900 | $299,900 | $305,000 | 102% | 6 |
| 65 Lincoln St | Ranch | 1,340 | 2 | 1/0 | $299,000 | $299,000 | $325,000 | 109% | 37 |
| 176 Johnson Ave | Colonial, Victorian | 1,337 | 3 | 1/1 | $334,900 | $334,900 | $340,000 | 102% | 27 |
| 709 Huntington Rd | Cape Cod, Colonial | 1,354 | 3 | 2/0 | $379,900 | $379,900 | $385,500 | 101% | 41 |
| 773 Judson Pl | Colonial | 2,861 | 5 | 2/1 | $425,000 | $400,000 | $390,000 | 92% | 41 |
| 220 Brookbend Dr | Raised Ranch | 1,952 | 3 | 1/1 | $380,000 | $380,000 | $400,000 | 105% | 9 |
| 145 River Valley Rd | Cape Cod, Colonial | 3,000 | 3 | 2/1 | $499,900 | $499,900 | $520,000 | 104% | 58 |
| 3200 Huntington Rd | Colonial | 4,632 | 4 | 3/1 | $699,000 | $689,000 | $650,000 | 93% | 46 |
| 673 Cutspring Rd | Ranch | 1,344 | 3 | 1/0 | $369,000 | $369,000 | $375,000 | 102% | 4 |
| 460 Overland Dr | Ranch | 1,856 | 3 | 3/0 | $400,000 | $400,000 | $435,000 | 109% | 1 |
| 176 Larkin Ct | Half Duplex | 1,180 | 3 | 2/0 | $199,900 | $199,900 | $230,000 | 115% | 33 |
| 204 Legion Ave | Ranch | 2,016 | 3 | 1/0 | $299,900 | $299,900 | $295,000 | 98% | 24 |
| 101 Clarendon St | Colonial | 1,863 | 3 | 2/1 | $395,000 | $395,000 | $401,000 | 102% | 27 |
| 21 Fairview Ave | Colonial | 1,824 | 4 | 2/1 | $389,999 | $389,999 | $415,000 | 106% | 147 |
| 60 Hudson St | Colonial, Contemporary | 2,790 | 4 | 3/1 | $630,000 | $630,000 | $630,000 | 100% | 22 |
| 35 Melville St | Cape Cod | 2,773 | 4 | 1/0 | $269,900 | $269,900 | $280,000 | 104% | 51 |
| 344 Patterson Ave | Cape Cod | 1,520 | 3 | 2/0 | $299,900 | $299,900 | $320,000 | 107% | 6 |
| 71 Old Spring Rd | Cape Cod | 1,373 | 3 | 1/1 | $370,000 | $370,000 | $370,000 | 100% | 56 |
| 55 Delwood Rd | Ranch | 1,536 | 3 | 1/1 | $385,000 | $385,000 | $410,000 | 106% | 64 |
| 131 Winfield Dr | Cape Cod | 1,764 | 4 | 2/0 | $315,000 | $315,000 | $330,000 | 105% | 3 |
| 28 Middlebrook Rd | Ranch | 1,460 | 3 | 1/1 | $350,000 | $350,000 | $357,500 | 102% | 48 |
| 80 Mapledale Ave | Ranch | 1,417 | 3 | 2/0 | $369,900 | $369,900 | $390,000 | 105% | 3 |
| 40 Parkland Dr | Ranch | 2,210 | 3 | 2/1 | $389,900 | $389,900 | $405,000 | 104% | 14 |
| 975 Cutspring Rd | Cape Cod | 1,950 | 4 | 2/0 | $429,000 | $429,000 | $445,000 | 104% | 31 |
| 170 Freeman Ave | Ranch | 3,132 | 3 | 2/0 | $247,500 | $347,500 | $360,000 | 145% | 24 |
| 533 Highland Ave | Colonial | 1,872 | 4 | 1/1 | $419,900 | $379,900 | $390,000 | 93% | 91 |
| 1243 E. Main St | Colonial | 1,946 | 3 | 3/0 | $374,900 | $374,900 | $400,000 | 107% | 21 |
| 1105 Huntington Rd | Cape Cod | 2,254 | 3 | 2/1 | $389,900 | $389,900 | $402,000 | 103% | 69 |
| 150 Hollister St | Ranch | 1,076 | 2 | 1/0 | $199,900 | $199,900 | $200,000 | 100% | 24 |
| 251 Nichols Ave | Colonial | 1,828 | 3 | 2/0 | $279,000 | $279,000 | $300,000 | 108% | 54 |
| 32 Hawkins St | Cape Cod | 2,601 | 3 | 1/0 | $349,900 | $379,900 | $370,000 | 106% | 84 |
| 91 Wood Ave | Colonial | 1,550 | 3 | 1/1 | $245,000 | $245,000 | $250,000 | 102% | 28 |
| 75 Longview Dr | Raised Ranch | 1,984 | 3 | 2/0 | $459,000 | $459,000 | $510,000 | 111% | 10 |
| 206 Clover St | Cape Cod | 1,505 | 3 | 1/0 | $279,000 | $279,000 | $287,000 | 103% | 0 |
| 249 Jackson Ave | Cape Cod | 1,296 | 3 | 2/0 | $309,900 | $309,900 | $350,000 | 113% | 64 |
| 11 McGrath Ct | Half Duplex | 952 | 2 | 1/0 | $160,000 | $160,000 | $153,000 | 96% | 48 |
| 1107 Nichols Ave | Cape Cod | 1,346 | 3 | 1/0 | $325,000 | $325,000 | $340,000 | 105% | 6 |
| 270 Delaware Dr | Cape Cod | 1,506 | 4 | 2/0 | $349,000 | $349,000 | $370,000 | 106% | 35 |
| 473 Laughlin Rd | Colonial | 2,560 | 3 | 2/1 | $495,500 | $495,500 | $490,000 | 99% | 36 |
| 115 Arcadia Ave | Colonial | 2,284 | 4 | 2/1 | $519,000 | $519,000 | $550,000 | 106% | 1 |
| 145 Dover St | Ranch | 2,056 | 3 | 2/0 | $265,000 | $265,000 | $305,000 | 115% | 6 |
| 64 Osborne St | Cape Cod | 2,094 | 2 | 2/0 | $314,964 | $314,964 | $320,000 | 102% | 8 |
| 259 Raven Ter | Cape Cod | 1,627 | 3 | 1/1 | $310,000 | $320,000 | $325,000 | 105% | 29 |
| 25 Ulrich Rd | Ranch | 1,290 | 3 | 1/1 | $369,900 | $369,900 | $360,000 | 97% | 22 |
| 1130 James Farm Rd | Colonial | 3,548 | 4 | 3/0 | $534,900 | $534,900 | $535,000 | 100% | 23 |
| Units Sold: 64 | $349,450 | $349,500 | $362,500 | 104% | 26 |
Are You Interested In A Real Estate Review?