Morris Cove Homes For Sale - Morris Cove Real Estate Market Report August 2009
Understanding the general direction of the current Morris Cove 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 Morris Cove.
There are currently 32 homes for sale in Morris Cove ranging in price from $89,500 to $699,000.
In the month of August 2009 there were 9 homes that closed. This is an increase of 5 homes as there were 4 homes closed in August 2008.
The average sales prices of the homes sold in August 2009 was $209,944 with an average 67 days on the market versus $221,250 for those sold in August 2008 with an average 46 days on the market.
Below is a summary of the Morris Cove New Haven CT real estate market that provides a more in depth view of market conditions over the past twelve months.
For the period of January - August 2008 there were 29 homes sold with an average list price of $246,958 average sales price of $236,282, a median sales price of $229,000, an average days on market of 77 days with a 95% sale price to list price ratio.
For the period of January - August 2009 there were 22 home sold with an average list price of $212,059, average sales price of $198,295, a median sales price of $200,000, an average days on market of 127 days with a 94% sales price to list price ratio.
In reviewing this comparison of year to year market data, there has been a decrease in the average sales price and average median sales price indicating a continued weakness in the real estate market. The sale of a number of distressed properties during the past 12 months contributed to the lower average sales price year over year. The number of homes sold saw a modest decline year over year while the average days on market has been rising. The average sale price to list price year to year has decreased slightly.
While there has been a considerable decrease in the average sales price year over year, the months supply of inventory is going down indicating signs of some stability in the Morris Cove real estate market.
The data for the Morris Cove New Haven CT real estate market report for August 2009 is based on statistics provided from the CTMLS (private sales are not included).
There are great opportunities for today's buyers looking for a Morris Cove home with the great low interest rates that are available.
If you're considering selling your Morris Cove 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.
Click here for previous Morris Cove Market Reports.
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Contact Donna Bigda 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.
Copyright © 2009 by Donna Bigda, All Rights Reserved ...*Morris Cove Homes For Sale - Morris Cove Real Estate Market Report August 2009*
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