How’s the real estate market in New Milford, CT? Check it out.
As of October 3, 2011 in New Milford, CT there were 262 single family homes for sale. This is almost identical as the same time last month. The amount of active listings stabilizing is a good thing.
24 single family homes sold in New Milford, CT in September 2011. This is the same amount that sold last month. Of these homes that sold, the average list price was $408,245. The average sale price was
$383,498, up again for the second month in a row. The average market time was 136 days which is up 37 days from last month. No foreclosures are listed as having sold last month.
The average list price of single family homes for sale in New Milford, CT is $492,644.
The average market time for these active listings in New Milford, CT is 165 days.
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 880+ days.
The lowest priced home for sale in New Milford, CT is $29,900, which is a foreclosure. I have not seen a price like this in New Milford before, it should be interesting to see what happens next.
Of the 262 single family homes for sale in New Milford, CT, 15 homes are under deposit. The average list price of these homes is $311,940, the average market time is 137 days.
Currently there are 23 homes that are in the pending sale status in New Milford, CT. This number is down 11 homes at the same time last month. The average list price of these homes in the pending sale status is $288,191, 3 of these are foreclosures. The average market time for these homes is 136 days. I hope this is not an indication that we will yet again see the number of homes fall for October sales, but I can honestly say I do not know what will happen.
What does all of this mean? We seem to go up and down on a regular basis in the amount of homes sold however August and September had the same amount sold. It is still most definitely a buyers market. Each month brings us up, the next down, sales are not consistent. 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 August, 2011.
Interest rates are still low, housing prices are low, if you are ready to buy a home in New Milford, CT.
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.