Madison CT Homes - Madison Real Estate Market Report September 2009

Understanding the general direction of the current Madison 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 Madison.

There are currently 228 Madison CT homes for sale ranging in price from $45,000 for a seasonal cottage to $6,950,000 for a direct waterfront estate. In the month of September 2009 there were 14 homes that closed which is an increase of 5 home as there were 9 Madison CT homes that closed in September 2008.

The average sales prices of Madison CT homes sold in September 2009 was $453,114 with an average 105 days on the market versus $593,389 for those sold in September 2008 with an average 113 days on the market.

The median sales price for Septmeber 2009 was $384,500.

The median sales price for September 2008 was $408,000.

Below is a summary of the Madison 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 136 Madison CT homes sold withan average list price of $669,018, an average sales price of $629,098 and a median sales price of 480,500.

For the period of January-September 2009 there were 134 Madison CT homes sold with an average list price of $597,614, an average sales price of $551,594 and a median sales price of $448,750.

The average sale price to list price ratio for January-September 2008 was 94.88% and for January-September 2009 was 93.77%.

The average days on market for January-September 2008 was 106 days and for January-September 2009 it was 113 days.

In reviewing this comparison of year to year market data for Madison real estate there has been a very slight decrease in the number of homes sold. There has been a considerable decrease in the average and median sales price and the months supply of inventory is still very high. The average days on market for homes sold this year has increased from the previous year.

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

Click here for previous Madison Connectiuct Market Reports

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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, North Branford, Hamden, North Haven, Milford, West Haven and the rest of shoreline area in New Haven County Connecticut.

If you're considering selling your Madison 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.

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