Madison CT Homes - Madison Real Estate Market Report November 2009

Madison CT Homes - Madison Real Estate Market Report November 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 185 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 November 2009 there were 16 homes that closed which is an increase of 14 home as there were 2 Madison CT homes that closed in November 2008.

The average sales prices of Madison CT homes sold in November 2009 was $568,385 with an average 134 days on the market versus $2,028,250 for those sold in November 2008 with an average 236 days on the market.

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-November 2008 there were 158 Madison CT homes sold withan average list price of $668,484, an average sales price of $625,758 and a median sales price of 465,000.

For the period of January-November 2009 there were 166 Madison CT homes sold with an average list price of $599,695 an average sales price of $553,665 and a median sales price of $438,500.

The average sale price to list price ratio for January-November 2008 was 94.52% and for January-November 2009 was 93.96%.

The average days on market for January-November 2008 was 107 days and for January-November 2009 it was 115 days.

In reviewing this comparison of year to year market data for Madison real estate there has been an increase 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 November 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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