New Milford CT real estate market activity October 2011

How’s the real estate market in New Milford, CT? Check it out.

As of November 3, 2011 in New Milford, CT there were 256 single family homes for sale. This is down 10 from last month at the same time, but not surprising due to the storm damage we are suffering.

17 single family homes sold in New Milford, CT in October 2011. This is down 7 homes from the previous month.  Of these homes that sold, the average list price was $313,588. The average sale price was
$293,062, which is down $90,436 from last month. The average market time was 167 days which is up 30 days from last month. Three foreclosures and 2 short sales were included in the sold homes for October 2011. I have said that we go up and down every month, there really is no trend. But after 2 months of an upward trend, we are back down again.

The average list price of single family homes for sale in New Milford, CT is $492,532, almost identical from last month.

The average market time for these active listings in New Milford, CT is 173 days, up just a bit from last month.

The highest price home for sale in New Milford, CT is $5,900,000, a beautiful estate belonging to a world famous comedienne, and located on the New Milford, New Preston, CT border. This home, as of today, has been on the market for 917 days as of today.

The lowest priced home for sale in New Milford, CT is $110,000, a small ranch near town, built in 1900. This home is in an estate, and has been chasing the market down for a total of 288 days all together.

Of the 256 single family homes for sale in New Milford, CT, 19 homes are under deposit. The average list price of these homes is $318,340, the average market time is 109 days.

Currently there are 22 homes that are in the pending sale status in New Milford, CT. This number is down only 1 from the same time last month, which is good. The average list price of these homes in the pending sale status is $299,291. The average market time for these homes is 154 days. One of these homes is a foreclosure.

What does all of this mean? We see up and down every month, and now that we are so close to the end of the year we show sales are still down, prices are still down, it is a buyers market and will continue to be so for a while to come. Predicting the real estate market is something I don’t think anyone can do these days with figures that look the way they do. I know one thing. The key to selling a home in this market is to price it far better than the other competing homes in the same category.

Buyers can take advantage of some pretty amazing deals these days, between jaw dropping interest rates and home prices, as long as the seller realizes that, in all honesty, the best price they will realize from the sale of their home is the one a buyer is willing to pay and the bank is willing to loan on it. Still, with the uncertain job market, many seem to be hesitant to get out there and look.

Check out the previous home sale market activity report for September, 2011.

Interest rates are still low, housing prices are low, are you are ready to buy a home in New Milford, CT?

Click here to search for homes for sale in New Milford.

The above statistics are provided courtesy of Greater Fairfield County Multiple Listing Service (CMLS). Information provided is deemed reliable, but not necessarily accurate. There may be discrepancies, as mistakes in inputing can be made, and the fact that Connecticut has more than one multiple listing service. There may be instances where a home was/is for sale in New Milford and is on the other multiple listing service. Most of the homes for sale are listed on CMLS, therefore that is where I base my statistical information. I do believe it gives a good sense of what is happening in New Milford.

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