Here is the latest real estate market report for New Milford, CT, including all purchases through March, 2015. After a very, very sluggish period we may be seeing more buyers actually putting deposits on homes here! Could be the spring thaw has brought buyers out.
Currently there are 183 active single family homes on the market. There are 34 homes under deposit, which is the next step in the process. This is a higher number than I have seen in a long, long time which is very good news! We are showing 19 homes in the pending sale category, which is also a strong number. Barring any unforeseen events, we should see these homes close in the next month or so.
If you look at the chart below you will see that the average list and sales price does go up and down. There is no set pattern to it at all.
In March we saw the average list and sales price both dip.
- average list price March 2015: $355,725 (February 2015: $443,587)
- average sales price March 2015: $266,165 (February 2015: $308,827)
What will those prices get you in New Milford, CT? Check out below.
Search single family homes for sale New Milford, CT $325,000 - $375,000
Search single family homes for sale New Milford CT $250,000 - $275,000
Sales did improve ever so slightly, but this may be due to February being a short month. There were 14 single family home sales in March of 2015 in New Milford, compared to only 11 in February.
There was one very disturbing statistic. I always look at the average list price to sales price as well as the average ORIGINAL list price to sales price. For the first time both figures were the same, and both are very, very low at 83.6%. This tells me buyers thought homes were listed too high, and those sellers that sold agreed to a far lower sales price than originally expected.
If you want to find out what your home is worth in the current real estate market in New Milford, CT, give me a call at 203.460.1775. I look forward to discussing your home in the current climate, and where it needs to be to sell. I will also show you my comprehensive marketing strategy.
If you want to purchase a home in New Milford, CT, now is the time! Remember, a 1% increase in the mortgage rate could reduce your buying power by $50,000! Give me a call at 203.460.1775 to discuss your options.
And in the meantime, start your home search for single family homes for sale in New Milford CT right here!
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