New Milford, CT - May, 2007 Real Estate Market Report

New Milford, Connecticut Real Estate Update
May, 2007

Closed home sales in New Milford, Connecticut:

Single Family Homes:
There were 32 single family home sales closed in New Milford, CT.
List Prices ranged from $179,000 - $950,000.
Closed Sales Prices ranged from $179,000 - $927,000.

The average closed real estate sales price for single family homes in New Milford was $410,665.
The median closed sales price was $355,000.
On average, these homes sold for 97% of their final list price.
Days on Market ranged from 31 - 703 days, with the average being 202 days of market time.

This compares to 25 single family homes closed in May, 2006, with an average closed sales price of $395,705 and a median closed sales price of $357,500.

Condos:
There were 16 condominium sales closed in New Milford, CT.
List Prices ranged from $113,800 - $517,800.
Closed Sales Prices ranged from $108,500 - $655,675.

The average closed real estate sales price for condos in New Milford was $212,720.
The median closed sales price was $181,000.
On average, these homes sold for 95% of their list price. (This does not take into account the one new construction condo that sold for about $140,00 over list price due to extensive upgrades)
Days on Market ranged from 33 - 273 days, with the average being 114 days of market time.

This compares to 20 condos closed in May, 2006, with an average closed sales price of $164,760 and a median closed sales price of $163,750.

Currently available homes for sale in New Milford, Connecticut:

Single Family Homes:
Currently, there are 319 single family homes for sale in New Milford, CT.
List Prices range from $179,000 for a small ranch to $2,850,000 for a 20 acre estate with an 8,000 square foot main home and four additional detached residences.

Condos:
Currently, there are 101 condos available for sale in New Milford, CT.
List prices range from $98,900 for a 1-bedroom unit to $563,700 for a detached unit in an active-adult community.

New Milford, Connecticut, is the southernmost town in Litchfield County and is known as The Gateway to Litchfield County.  The town borders the northeastern shores of Candlewood Lake.  Several lake communities surround its Candlewood Lake shores, and typically offer a private beach for residents, boat docks and other amenities.  New Milford enjoys a population of about 28,000 residents.

This Market Report prepared by:
Don Fabrizio-Garcia, REALTOR
Connecticut Real Estate & Appraisals
CT Home Group
Keller Williams CT Realty
203.746.1199
Connecticut Real Estate and Homes for Sale

Data compiled from the Consolidated MLS and believed to be accurate.