New Milford CT 06776 real estate market report through October 2016

By
Real Estate Agent with Coldwell Banker Residential Brokerage Licensed in Connecticut

New Milford CT real estate market reportThe 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 

 

  Sales Listings Months inventory
10/15 20 265 13
11/15 26 228 9
12/15 21 202 10
1/16 15 192 13
2/16 17 213 13
3/16 19 234 12
4/16 19 244 13
5/16 25 242 10
6/16 51 248 5
7/16 36 235 6
8/16 34 224 7
9/16 28 229 8
10/16 22 217 10

 

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 %
10/15 $343,850 97.40% 94.30%
11/15 $317,019 96.10% 93.30%
12/15 $273,905 95.10% 92.80%
1/16 $251,110 98.20% 98.20%
2/16 $270,994 93.40% 84.80%
3/16 $275,821 96.30% 87.50%
4/16 $335,479 95.90% 93.40%
5/16 $281,868 97.40% 96.00%
6/16 $318,965 97.70% 95.16%
7/16 $299,555 96.30% 94.30%
8/16 $320,174 97.10% 96.70%
9/16 $356,853 97.90% 96.10%
10/16 $333,921 96.90% 95.70%

 

Here is what that looks like in a graph. Sometimes that makes it easier to see. 

 

List to sales price ratios new milford ct real estate

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. 

 

average days on market new milford ct

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!

 

Posted by

Andrea Swiedler, Realtor, Southern Litchfield County Real Estate

2017 President, Greater New Milford Board of Realtors

2017 Connecticut Magazine 5 Star Realtor

 

 Search homes for sale in Litchfield County, CT.

 

Coldwell Banker Residential Brokerage

Litchfield County Regional Office,375 Danbury Rd, New Milford, CT 06776

 

© Andrea Swiedler 2009 - 2017

 Always do right. This will gratify some people and astonish the rest. - Mark Twain

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Rainmaker
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Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

Nice report on New Milford CT Andrea...you have really packed a lot of info into it!

Nov 19, 2016 02:40 AM #1
Rainmaker
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Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

Hi Andrea, in looking at your chart, I notice the highest # of days on market was May of 2016. That would be about the lowest number of days on market for us in Sacramento because it's the month of most activity. Why is it so high in your market?

Nov 19, 2016 03:29 AM #2
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