TRUMBULL
Market Trends Report
January 2012
The Trumbull, Connecticut real estate market is still trending down. The slowdown earlier in the year can be attributed in part to the power outages that accompanied Tropical Storm Irene and the freak October snowstorm. However, the 3 month comparison shows that both the number of sales and sale prices are still declining.
The amount of inventory that the market can absorb is also not improving. We use the 12 month absorption rate (see chart above) to determine inventory absorption, which means that it would take about 8-9 months to sell every home currently on the market in Trumbull. This is actually better than most towns in Fairfield County.
Although it is still a Buyers Market in Trumbull, given the low interest rates and an improving economy, we are expecting a good Spring market. Let's hope the weather stays mild and the Spring market begins early this year!
If you are thinking of buying or selling in Trumbull, Connecticut, please call Gail Robinson, REALTOR, at 203-521-0768 for a consultation.
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