Madison CT Homes - Madison Real Estate Market Report October 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 200 Madison CT homes for sale ranging in price from $79,900 for a seasonal cottage to $6,950,000 for a direct waterfront estate. In the month of October 2009 there were 16 homes that closed which is an decrease of 4 home as there were 20 Madison CT homes that closed in October 2008.
The average sales prices of Madison CT homes sold in October 2009 was $587,888 with an average 112 days on the market versus $502,360 for those sold in October 2008 with an average 104 days on the market.
The median sales price for October 2009 was $355,000.
The median sales price for October 2008 was $335,000.
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-October 2008 there were 156 Madison CT homes sold withan average list price of $647,651, an average sales price of $607.777 and a median sales price of 462,500.
For the period of January-October 2009 there were 150 Madison CT homes sold with an average list price of $596,576 an average sales price of $552,095 and a median sales price of $448,750.
The average sale price to list price ratio for January-October 2008 was 94.59% and for January-October 2009 was 93.88%.
The average days on market for January-October 2008 was 105 days and for January-October 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 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 October 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,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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Copyright © 2009 by Donna Bigda, All Rights Reserved ...*Madison CT Homes - Madison Real Estate Market Report October 2009*
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