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Trumbull CT Single Family Real Estate Market Report for October 2011

By
Real Estate Agent with Better Homes and Gardens RE Shore and Country Properties RES.0781237

Trumbull CT Single Family Real Estate Market Report for October 2011

 

Trumbull CT September 2011 Market Report



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?

   What's selling in Trumbull CT September 2011

 

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)

Trumbull CT October 2011 Property Transfers

 

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.

 

Home sold in Trumbull CT in October 2011

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.  

Trumbull CT Homes for Sale Absorption trend

 

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

Comments (4)

George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Barbara, I am surprised with the number of market reports that I have been reading lately that are showing significant increases in sales like this one.  I sure hope that this trend not only continues, but becomes the norm for all towns in Connecticut.

Nov 17, 2011 03:15 PM
Robert Bob Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX ( West of Houston) Real Estate Expert

Barbara,

I really like your analysis of the data and your commnets at the end of the blog. Good job of preparing a valuable market report.

Nov 18, 2011 05:44 AM
Barbara Altieri
Better Homes and Gardens RE Shore and Country Properties - Shelton, CT
REALTOR-Fairfield County CT Homes/Condos For Sale

George -- Let's hope that is the case.  The areas I service are all up in sales and many in prices as well.  Contingents and pendings show future promise for continuing the trend.

Bob -- Thanks.  Buyers and sellers alike need these numbers to make an educated decision when listing or purchasing.

Nov 18, 2011 01:17 PM
Robert Bob Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX ( West of Houston) Real Estate Expert

Barbara,

Some folks ahve written comments about what we all include in our market reports and telling us that no one wants to know all these facts and figures. I have found that seriuos buyers/sellers want as much market data as exists and these days even first time home buyers have all these questions about this maze od data. I ahve gone bacl to loading my market reports with a lot of information. Keep up  the good work..

Nov 19, 2011 05:18 AM