Enfield CT Real Estate Market Report
December 2009
Welcome to Enfield, Connecticut!! Having a better understanding of the current Enfield real estate market conditions is critical in order to help you make a more informed decision when buying or selling a home in Enfield. To keep you up to date, I have included December 2009's market profile and trends for your consideration.
Property Sales
December Property sales were 30, down -9.1% from 33 in December of 2008 and -28.6% lower than the 42 sales last month. December 2009 sales were at their lowest level compared to December of 2008 and 2007. December YTD sales of 424 are running -0.9% behind last year's year-to-date sales of 428.
Inventory & MSI
The Total Inventory of Properties available for sale as of December was 173, down -7.0% from 186 last month and down -11.7% from 196 in December of last year. December 2009 Inventory was at its lowest level compared with December of 2008 and 2007.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The December 2009 MSI of 5.8 months was at its lowest level compared with December of 2008 and 2007.
Market Time
The average Days On Market (DOM) shows how many days the average Property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for December was 63, up 6.8% from 59 days last month and up 10.5% from 57 days in December of last year. The December 2009 DOM was at a mid level compared with December of 2008 and 2007.
Selling Price vs Original Listing Price
The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The December 2009 Selling Price vs Original List Price of 93.6% was equal to 93.6% last month and down from 94.6% in December of last year.
Enfield CT Realtor Brian Burke, ABR
RANKED Top 1% Nationally
RANKED Top 10 in CLOSED SALES for 2009 (out of 2,500 agents)
International President's Circle
Coldwell Banker Residential Brokerage
cell: (860) 798-3272
email: burkecthomes@gmail.com
P.S. Are you considering buying or selling a home in Enfield CT? How about the Hartford County area? Selecting the most experienced agent dedicated to the Enfield, CT area is imperative to promoting your home correctly as a seller or bidding on a home aggressively as a buyer. Call or email me to setup a no obligation consultation, and I'll outline each of the many strategies I utilize to gain the best results for my clients.
Cell: (860) 798-3272
Email: burkecthomes@gmail.com
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