Tolland CT Realty Market Report
December 2009
Welcome to Tolland, Connecticut!! Having a better understanding of the current Tolland realty market conditions is critical in order to help you make a more informed decision when buying or selling a home in Tolland. 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 17, up 112.5% from 8 in December of 2008 and 6.3% higher than the 16 sales last month. December 2009 sales were at their highest level compared to December of 2008 and 2007. December YTD sales of 138 are running -7.4% behind last year's year-to-date sales of 149.
Inventory & MSI
The Total Inventory of Properties available for sale as of December was 73, down -22.3% from 94 last month and down -26.3% from 99 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 4.3 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 53, up 65.6% from 32 days last month and down -19.7% from 66 days in December of last year. The December 2009 DOM was at its lowest 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 94.1% was down from 97.1% last month and down from 94.3% in December of last year.
Tolland 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 Tolland, CT? How about the Tolland County area? Selecting the most experienced agent dedicated to the Tolland, 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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