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Market Watch New Milford CT, Real Estate Sales New Milford CT

By Andrea Swiedler

Real Estate Agent with Berkshire Hathaway HomeServices New England Properties Licensed in Connecticut

February 06, 2010 10:41 PM

Market Watch New Milford CT, Real Estate Sales New Milford, CT

Things seem to be improving in the New Milford CT real estate market! We are busier and the numbers prove it. It is still a buyers market. The absorption rate (how long it will take to sell what is currently on the market) is 14 months. This shows an improvement over last year. I calculated the rate just about a year ago, it was almost 28 months at that time. 6 months is considered a balanced market, under 6 months is a sellers market, over 6 months is a buyers market. We are still in a buyers market here in New Milford, CT real estate market.

As I write this there are currently 216 single family homes for sale in New Milford, CT real estate market. The average list price of these homes is $482,845. The average market time is 152 days. Highest list price: $ 5,900,000, Lowest list price: $84,900.

Of these active listings, 20 are under deposit, average list price of these is $292,356, average market time is 133 days.

Currently there are 17 homes in a pending status, awaiting closing. The average list price of these homes is $392,735, average market time is 119.

Jan 09 10 sold New Milford CT

Jan 09 10 Days on Market New Milford CT

What does this mean if you are selling? In the greater New Milford CT real estate market you must price it right. Buyers are savvy, lenders are not apt to let them overpay. Call me for a market analysis of your property.

If you are buying? You have some good choices, rates are STILL low, if you act quickly you can still get in on the tax credit. Call me, I will be happy to discuss your options with you. Join me February 23, 2010 for a home buyers seminar. Rod Moore from Flagstar Bank will be there to discuss mortgage options, I will be there to discuss the buying process and the current real estate market in the greater New Milford, CT area.

All statistical information provided by the Greater Fairfield County Multiple Listing Service (CMLS). Information provided deemed to be reliable, but not guaranteed.

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Harry F. D'Elia III

WEDO Real Estate and Beyond, LLC - Phoenix, AZ

Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

Thanks for sharing the local real estate stats with us this morning. Go CT

Feb 06, 2010 10:47 PM

Bill Gassett

RE/MAX Executive Realty - Hopkinton, MA

Metrowest Massachusetts Real Estate

Good to keep up with the numbers Andrea. I have a feeling the Northeast is going to do just fine in 2010!

Feb 06, 2010 10:49 PM

Andrea Swiedler

Berkshire Hathaway HomeServices New England Properties - New Milford, CT

Realtor, Southern Litchfield County CT

Harry, thank you for stopping by!

Bill, I think so, things are moving forward, evidenced by the absorption rate falling lower. Stats can be skewed by all sorts of things, I high price home or a foreclosure that sells for almost nil, these are, in my opinion, anomalies and skew things. But the numbers sold are moving up, the number on the market moving down, when we meet in the middle we will be balanced!

The Northeast will rise again!

Feb 06, 2010 11:24 PM

Ed Silva, 203-206-0754

Mapleridge Realty, CT 203-206-0754 - Waterbury, CT

Central CT Real Estate Broker Serving all equally

Andrea, historically CT is one of the last states to feel the onset of a slow down and likewise one of the last to see it recover. It becomes a matter of recognition as to where you really are. Halving the absorption rate is a good thing, pricing it right is a better thing.

Feb 07, 2010 03:17 AM

Craig Rutman

Helping people in transition - Cary, NC

Raleigh, Cary, Apex area Realtor

Great job Andrea keeping the folks up to date on happenings in the Real Estate market in your neck of the woods!

Feb 07, 2010 04:27 AM

Ed, we are the last, guess we do things in our own time. And my corner of the state seems to really do things at a different speed. We have not seen the amount of short sales and foreclosures, not to say that they aren't coming though. Sellers need to understand that this is not their market, but that they can sell if they look around, listen to their agent and price it right!

Craig, why thank you!

Feb 07, 2010 08:51 AM

George Souto

George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT

Your Connecticut Mortgage Expert

Andrea, things are definitely picking up. I have had the best December and January that I have had in a long time.

Feb 07, 2010 11:31 AM

Jennifer Fivelsdal

JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY

Mid Hudson Valley real estate connection

Andrea glad to hear things have picked up. I too noticed more buyers are out looking., I think some have that April 30th date in mind.

Feb 07, 2010 01:27 PM

Carla Muss-Jacobs, RETIRED

RETIRED / State License is Inactive - Portland, OR

Nice graphic. And if buyers are out in this weather (it's cold back there) then this is a positive, indeed!

Feb 08, 2010 04:27 AM

Coleen DeGroff

Coldwell Banker M.M. Parrish Realtors - Gainesville, FL

Haile Plantation Real Estate - Gainesville FL

Andrea -

Things are picking up here as well.....right now I'm just in the calorie-burning mode of showing buyers around and working up new listings.....can't wait til some of it starts to pop!

And HEY! How do you make those cool graphics w/the photos behind them?? I WANNA DO THAT! :)

Thanks for any insights you can provide.

Feb 09, 2010 01:48 PM

Market Watch New Milford CT, Real Estate Sales New Milford CT

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