The New Milford CT real estate market report shows we are still slipping down on sales. This year we did hit a record high since before the market crashed, June 2016 reported 51 home sales, which caused the absorption rate (AB rate) to drop to a seller's advantage. However that was short lived as sales continue to drop and the AB rate continues to rise since then.
And now we are facing a bit of an inventory shortage, only 2 other months reported lower, and not by much, in the past 12 months. Currently there are 203 single family homes for sale. Although that sounds like quite a bit, it is a noticeable drop and buyers are finding it harder to find what they want. It is a confusing market at best. This is good news for the seller who has a home that is priced correctly and ready to go.
NEW MILFORD CT REAL ESTATE STATISTICS, OCTOBER 2015 THROUGH OCTOBER 2016
How about real estate prices for single family homes in New Milford, CT? Notice I included the list price to sales price ratio AND the original list price to sales price ratio. Homes are taking reductions before an offer comes in.
|Average sale $||List to sales %||Original list to sales %|
Here is what that looks like in a graph. Sometimes that makes it easier to see.
The average days on market are also not consistent. In order to keep yours from sitting for too long, price it right, clean it up, make it available and make sure buyers know it is there! I have included November in the chart below to show you that things have no rhyme or reason. On the whole, these days on market are far longer than a seller wants to see.
It is still crucially important to make sure you have a good superior marketing program in place and that you are positioned properly with other comparable homes. Price it according to condition, location and the condition of the LOCAL real estate market.
If you are thinking of selling, give me a call at 203.460.1775. I would love to discuss my unique marketing program with you and make arrangements to provide you with a professional market analysis of your home. And if you just can't wait, click here to get an automated instant report from 3 different sources with the possible value of your home. Then call me to go over the report!