The Mystic 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 Mystic homes for sale.
According to Trulia.com, the median sales price for homes in Mystic CT for Jan 14 to Apr 14 was $291,250. This represents an increase of 2.9%, or $8,250, compared to the prior quarter and an increase of 16.4% compared to the prior year. Sales prices have depreciated 19.1% over the last 5 years in Mystic. The average listing price for Mystic homes for sale on Trulia was $640,737 for the week ending Apr 02, which represents an increase of 10.6%, or $61,653, compared to the prior week and an increase of 8.6%, or $50,625, compared to the week ending Mar 12. Average price per square foot for Mystic CT was $222, an increase of 48% compared to the same period last year.
According to Zillow, The median home value in 06355 is $250,400. 06355 home values have declined -4.9% over the past year and Zillow predicts they will fall -0.5% within the next year. The median list price per square foot in 06355 is $194, which is higher than the Old Mystic average of $156. The median price of homes currently listed in 06355 is $399,000 while the median price of homes that sold is $247,100.
Foreclosures will be a factor impacting home values in the next several years. In 06355 1.9 homes are foreclosed (per 10,000). This is lower than the Old Mystic value of 4.0 and also lower 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 06355 is 6.0%, 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 06355 homeowners underwater on their mortgage is 12.3%.
Licensed in Connecticut and Rhode Island
Bridget Morrissey is a 2012-13 Woman of FIRE (FINANCE-INSURANCE-REAL ESTATE) 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!
RE/MAX Coast and Country
Olde Mistick Village
27 Coogan Boulevard
Mystic, CT 06355
Cell/Text: (860) 857-5165
Office: (860) 536-7600