New Haven Connecticut - New Haven CT Real Estate Market Report May 2009

Understanding the general direction of the current New Haven CT real estate market conditions is of vital importance to both buyers and sellers in order to help you make a more informed decision when buying or selling a home in New Haven.

There are currently 214 homes for sale in New Haven ranging in price from $33,900 to $1,790,000. 

In the month of May 2009 there were 25 homes that closed which is an increase of one home as there were 25 homes that closed in May 2008.  

The average sales prices of the homes sold in May 2009 was $221,032 with an average 95 days on the market versus $224,787 for those sold in May 2008 with an average 95 days on the market. 

The median sales price for May  2009 was $182,000 with an average 63 days on the market.

The median sales price for May 2008 was $220,000 with an average 75 days on the market.

Below is a summary of the New Haven Connecticut real estate market that provides a more in depth view of market conditions over the past twelve months.

For the period of January-May 2008 there were 107 homes sold with an average sales price of $205,483 and a median sales price of $202,500.

For the period of January-May 2009 there were 94 homes sold with an average sales price of $180,315 and a median sales price of $162,000.

The average sale price to list price ratio for January-May 2008 was 93% and for January-May 2009 was 92%.

The average days on market for January-May 2008 was 90 days and for January-May 2009 it was 87 days.

In reviewing this comparison of year to year market data for New Haven CT there has been a decrease in the number of homes sold and a decrease in the average sales price indicating a continued weakness in the real estate market.  Short sales, foreclosure and bank owned sales have been a contributing factor in the continuing decline in the overall average sales price. The average days on market for homes sold this year has seen a slight decline from the previous year.

The data for the New Haven CT real estate market report for May 2009 is based on statistics provided from the CTMLS (private sales are not included nor are mobile homes).

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Contact Donna Bigda, ABR, SRES, e-PRO, Realtor®, RE/MAX Alliance Licensed Realtor® in the State of Connecticut at 203-488-1641, ext. 214 to list your property for sale or to purchase a property in Branford, Guilford, Madison, East Haven, New Haven and the rest of shoreline area in New Haven County Connecticut.

If you're considering selling your New Haven home, we'd be happy to provide you with a Pin-Point Price Analysis of your home which will help you determine what it might sell for in today's market.

If you're thinking of buying a  home in New Haven Connecticut see New Haven CT  real estate or sign up today to get access the hottest new listings here New Haven CT homes and condos. 

Copyright © 2009 by Donna Bigda, All Rights Reserved ...*New Haven Connecticut - New Haven CT Real Estate Market Report May 2009*