Trumbull CT Single Family Real Estate Market Report for October 2011
Trumbull CT single family home sales for October 2011 were UP 24% over October 2010.
List and selling prices both decreased 17%. See analysis below. The median was down 6%.
Days on the market went down 13%. Good news for sellers.
Take a look at the actual figures from the Greater Fairfield County MLS. Does anything stand out?
Sure, it's that high sale of 1.2 million in 2010. This was a heavy outlier that brought 2010 averages up. So without that significant outlier, the averages comparison between 2010 and 2011 would have been tighter.
The median, which is unaffected by the outlier since it is merely the midrange value, was off 5.76% ... a truer representation of value.
What houses sold in Trumbull CT in October 2011?
Trumbull CT October 2011 Property Transfers
(as recorded in the Greater Fairfield County MLS)
38% of homes sales fell in the $300K-$400K range, which has consistently been the price range most in demand. Depending on inventory in that range, if you are a seller, and supply is not too high, you are definitely in the driver's seat.
The absorption trend, which shows the number of months it would take to sell the entire inventory at the same pace, came in at 8.60 months for the last three months.
This absorption rate is calculated on all price points. If you are selling your home, your agent should calculate the absorption rate trend for your price point to get a more accurate analysis.
Now here is some really good news. Sales went up 86% from September to October.
Moving forward into November there are 16 homes under deposit and 36 pending sales (under contract). So, it looks as if this trend will continue.
SEARCH FOR YOUR NEW HOME IN TRUMBULL CT (MLS LISTINGS)
The success in selling your house in TRUMBULL or any other community is dependent upon accurate pricing, effective staging, absorption rate for your particular price point, and having a strong online marketing presence. A house will sell if there is a synergy among all four.
CONTACT ME for advice on how to LIST, MARKET, and SELL your home effectively in today's market. All agents do not provide the same marketing services.
Date Source: Greater Fairfield County Multiple Listing Service -- November 15, 2011. No representation or warranty is made to the accuracy of this information.
SEARCH FOR YOUR NEW HOME IN TRUMBULL CT (MLS LISTINGS)
Trumbull CT Single Family Real Estate Market Report for October 2011
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