Morris Cove Homes For Sale - Morris Cove Real Estate Market Report September 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 36 homes for sale in Morris Cove ranging in price from $109,900 to $650,000.
In the month of September 2009 there were 7 homes that closed. This is an increase of 4 homes as there were 3 homes closed in September 2008.
The average sales prices of Morris Cove homes sold in September 2009 was $202,986 with an average 140 days on the market versus $264,000 for those sold in September 2008 with an average 146 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 - September 2008 there were 35 Morris Cove homes sold with an average list price of $255,446 average sales price of $243,406, a median sales price of $240,000, an average days on market of 86 days with a 95.11% sale price to list price ratio.
For the period of January - September 2009 there were 33 Morris Cove homes sold with an average list price of $210,367 average sales price of $193,980, a median sales price of $200,000, an average days on market of 122 days with a 92.91% sales price to list price ratio.
In reviewing this comparison of year to year market data for the Morris Cove areathere 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 also decreased.
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 September 2009 is based on statistics provided from the CTMLS (private sales are not included).
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.
There are great opportunities for today's buyers looking for a Morris Cove home with the added benefit for those who may qualify for the$8,000 First Time Homebuyer Tax Creditand 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 Analysisof your home which will help you determine what it might sell for in today's market.
Branford CT Real Estate - Home selling & buying tips, real estate market reports, homes for sale in Branford CT and the surrounding New Haven County shoreline area. REALTOR® specializing in home sales in Branford, Clinton, East Haven, Guilford, Hamden, Madison, Milford, New Haven, North Branford, North Haven and West Haven CT.
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Donna there was a decrease in the sales prices but an increase in the number of sales is always great to hear.