How's the real estate market in New Milford, CT?

How's the real estate market in New Milford, CT?

Funny you should ask. I do my market stats monthly, I like to keep a handle on what is happening locally for the areas I work in. With all the recent talk about the sky falling I decided to look even deeper into the past 5 years in New Milford, CT real estate sales. I took the year to date totals from January 1 through August, 2005 through 2010.

I am optimistic. I know a month doesn't make a trend so I looked deeper. After looking at the following statistics I feel pretty good. We seem to be on the way upward as far as total sales are concerned. I do not believe that prices are really on the way up, what you see here is that we have seen an uptick in the larger subdivision homes and lake homes at Candlewood Lake selling again. This market was dead for quite a while, to say the least.

The amount of foreclosures and short sales has grown this year, something other parts of the country have seen for a longer time than we have.

What does this mean to you if you want to sell your home in New Milford, CT? Spruce it up, price it right. Remember, what you owe on the home has not correlation to what it is worth in today's real estate market. Throwing a price on the house just to see how it will work does not work, I refer to this as the spaghetti technique of pricing. And make sure your real estate agent is doing as much internet marketing as possible. This is still a buyers market, no doubt. Give me a call to discuss my very detailed marketing plans for your home if you are thinking about selling.

If you are considering buying a home right now in New Milford, CT we have a variety of homes on the market at much more reasonable prices. Keeping up to date on new homes that have entered the real estate market is key, an agent who is local and knows the local market is a must. Give me a call if you would like to discuss your options, I will set you up with a Listingbook account which allows you to search for a home under my multiple listing service account. My clients all love it! I will also put you in touch with some fantastic mortgage people with great programs. Interest rates are low, housing prices are low, it's a buyers market, what's not to love?

Statistical Data provided courtesy of Greater Fairfield County-CMLS. Data considered to be reliable but not necessarily accurate.

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