How is the real estate market doing in New Milford CT? Overall we have seen improvement, but hold on, that doesn’t mean that if you are selling you need to raise the price of your house! We are still in a recovery stage, and any steps forward might well be followed by yet another step backward. It is still a buyers market in New Milford, CT!
Currently there are 251 active listings, including those that are marked “under deposit” but have not yet gone under contract.
In July of 2012 there were 22 single family homes sold in New Milford, same as in June. The average sale price was $322,857, which is up from the month of June.
The time it will take to sell the current inventory of single family homes that are on the market in New Milford CT is 12 months. That would be if no other homes came on the market. We are still in a buyers market. 6 months represents a balanced market. Below that is a sellers market, above that is a buyers market. I can’t remember the last time we saw a sellers market here in New Milford, or anywhere in Litchfield County for that matter.
Another interesting statistic shows the relationship of the ORIGINAL list price to the SALES price. Take a look where that has taken us over the past 12 months.
What does all this mean to you if you are thinking of purchasing a home in New Milford CT or one of the surrounding areas? It is your market. Although, there are sellers out there that are still pricing their homes based on what they need to get or want to get, there are well priced homes available for sale. You can search homes for sale in New Milford, CT here.
If you are thinking of selling, make sure you price your home according to location, condition, and the local real estate market conditions in New Milford, CT. If you want to recieve a personal property profile from us, including the competition for your home and the most likely sales price, call SPA Real Estate at 860.946.0686. We will also show you our intensive and unique internet marketing approach to get your home out to as many buyers as possible online.