New Milford, CT market report, the good news is that homes sold for 95% of list to sale price in February 2012. The not so good news, the inventory is creeping back up again. Home sales were down in February, but this is very typical.
As of March 2, 2012 in New Milford, CT there are 211 active single family homes for sale.The active inventory is creeping up again, there are 17 more active homes than there were last month at this time. 15 are listed as short sales, (there could be more however) and 4 are foreclosures.
9 single family homes sold in New Milford, CT in February 2012. This is down from last month, however, February has historically been a very slow month for sales. Of these homes that sold, the average list price was $492,400. The average sale price was $471,500. As you can see from the chart, this is up higher than it has been in over 2 years, but the reason was because a lakefront home sold for $2,000,000. The homes sold at approximately. 96% of list to sale price which is 10% more than last month, far, far better. The average market time was 102 days. None were listed as a short sale, and one home was a foreclosure.
The median sales price for a single family home in New Milford, CT for February 2012 was $270,000.
The average list price of single family homes for sale in New Milford, CT is $459,677.
The average market time for these active listings in New Milford, CT is 152 days.
The median price of a home for sale in New Milford, CT is $347,000, This is up $7,100 from 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 1037 days as of today.
The lowest priced home for sale in New Milford, CT is $99,900. Listed as a short sale, this home, for whatever reason, does not qualify for financing.
Of the 211 single family homes for sale in New Milford, CT, 20 homes are under deposit. The average list price of these homes is $327,460. The average market time is 137 days. We are up in the amount of homes under deposit, but also up in inventory.
Currently there are 21 homes that are in the pending sale status in New Milford, CT. The average list price of these homes in the pending sale status is $309,938. The average market time for these homes is 102 days. 5 of these are foreclosures and 3 are short sales.
What does all of this mean? The market continues to send out mixed signals. It does seem as if spring will bring the buyers out, we are feeling optimistic as agents across the area say they are busier with active buyers than they have been in a while. It is still imperative for a seller in New Milford, CT to understand that the market is very, very fragile. The key to selling a home in this market is to price it far better than the other competing homes in the same category. You must grab the buyers attention right from the start, not chase the market down or languish on the market because you outpriced yourself right out of the game.
If you don’t believe me about pricing and buyers mentality, check out some interesting stats on The Great Real Estate Divide.
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Check out the previous home sale market activity report for January, 2011.
Interest rates are still 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.
Originally posted at New Milford CT Real Estate Market Report February 2012
TAGS: New Milford CT, Real Estate, Market Report, Homes Sold, Stats, February 2012