There's not much inventory on the market like your property. Because of this, I would suggest you list your property "As Is" and let the offers come in, then you can decide which one to pick from. This situation could work in your favor, as we can list your property in the price range from $400,000 - $425,000, attract multiple showings, and hopefully create a competitive bidding environment. The best way to find our sweet spot is to present it to serious buyers to gauge their offers. Once we launch on the market, we can assess our approach after one week to see if our pricing is on point, ensuring we maximize your returns.
To accelerate the sale, we must engage genuinely interested buyers. This can be accomplished by listing on the MLS, promoting through top local brokers' sites, and directly contacting their clients via email.
I recommend starting with this price. If we don't receive any viewings or favorable offers in the next few weeks, we can reevaluate our pricing strategy.
Provided below is the expected price range for selling your property.
Naturally, this is merely a ballpark figure and may fluctuate higher or lower, depending on any refurbishing or enhancements you've made to make the property market-ready.
Below is a summary of the ARV comps that came up.
Based on the search results, here are some key details about recent sales and potential ARV (After Repair Value) for the new construction property at 59 Midland Rd, Waterbury, CT 06705:
### Property Details:
- **Address**: 59 Midland Rd, Waterbury, CT 06705
- **Type**: New construction single-family home
- **Bedrooms**: 3
- **Bathrooms**: 3
- **Square Footage**: 1,310 sq ft
- **Lot Size**: 1.15 acres
- **Year Built**: 2025
- **Current Listing Price**: $399,999
- **Price per Square Foot**: $305/sq ft
### Recent Comparable Sales:
1. **31 Midland Rd**:
- **Sold for**: $269,000 on January 9, 2025
- **Details**: 3 beds, 2 baths, 1,670 sq ft
2. **Property 0.05 miles away**:
- **Sold for**: $269,000 on January 9, 2025
- **Details**: 3 beds, 2 baths, 1,670 sq ft
3. **Property 0.20 miles away**:
- **Sold for**: $405,000 on November 8, 2024
- **Details**: 3 beds, 3 baths, 1,500 sq ft
4. **Property 0.23 miles away**:
- **Sold for**: $389,900 on September 26, 2024
- **Details**: 3 beds, 3 baths, 1,500 sq ft
### Estimated Market Value:
- **Zestimate**: $394,900 (range: $363,000 - $430,000)
### Market Trends for New Construction in Waterbury, CT:
1. **Limited Inventory**: There are limited new construction homes available in Waterbury.
2. **Rising Home Values**: The average home value in the 06705 zip code is $239,446, up 9.9% over the past year. The average home value in Waterbury overall is $255,638, up 9.5% over the past year.
3. **Competitive Market**: Homes are going under contract relatively quickly, with properties pending in around 23 days on average.
4. **Higher Prices for New Construction**: New construction homes typically sell at a premium. The median listing price for new construction homes in Waterbury is $289,900.
5. **Steady Appreciation**: Consistent year-over-year increases in home values suggest new construction homes are likely appreciating at a similar rate.
6. **Affordability Concerns**: Rising prices could present affordability challenges for some buyers, potentially impacting demand for new homes.
### Summary:
The current listing price of $399,999 for 59 Midland Rd appears to be at the higher end of the local market for new construction. The ARV for this property is likely in the range of $390,000 to $410,000, considering its new construction status, larger lot size, and the recent comparable sales in the area.
Best,
Ari Lee