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Brookfield, CT - August, 2008 Real Estate Market Report

Brookfield, Connecticut Real Estate Update
August, 2008

Closed home sales in Brookfield, Connecticut:

Single Family Homes:
There were 25 single family home sales closed in Brookfield, CT.
List Prices ranged from $179,000 - $1,950,000.
Closed Sales Prices ranged from $192,500 - $1,850,000.

The average closed real estate sales price for single family homes in Brookfield was $466,496.
The median closed sales price was $427,000.
On average, these homes sold for 94.1% of their final list price.
Days on Market ranged from 30 - 798 days, with the average being 178 days of market time.

This compares to 16 closed sales in August, 2007, with an average sales price of $561,156 and a median closed sales price of $514,500.

Condos:
There were 3 condominium sales closed in Brookfield, CT.
The average sales price was $283,333
The median sales price was $290,000
These units sold for 96.7% of the most recent list price.

This compares to 3 closed sales in August, 2007 with an average sales price of $190,416 and a median sales price of $178,000.

Currently available homes for sale in Brookfield, Connecticut:

Single Family Homes:
Currently, there are 167 single family homes for sale in Brookfield, CT.
List Prices range from $242,800 for a two-bedroom antique home to $2,395,000 for a Lake Lillinonah waterfront home.

Condos:
Currently, there are 33 condos for sale in Brookfield, CT. List prices range from $195,000 for a one bedroom unit to $629,900 for a newer detached 3-bedroom unit.

Brookfield, Connecticut, is located between Candlewood Lake and Lake Lillinonah, creating a multitude of water recreation opportunities in the town. Several lake communities border Candlewood Lake, and typically offer a private beach for residents, boat docks and other amenities. Brookfield enjoys a population of about 16,000 residents.

This Market Report prepared by:
Don Fabrizio-Garcia, REALTOR
Connecticut Real Estate & Appraisals
203.746.1199
Connecticut Real Estate and Homes for Sale

Data compiled from the Greater Fairfield County MLS and believed to be accurate.

Posted by Don Fabrizio-Garcia - Connecticut Real Estate on 09/23/2008 10:23 AM

Comments (2)

Market Activity in the Regional (Localism) Channel

fairfield county, market conditions, brookfield, real estate, buyers, sellers

Originally posted at: Fab Real Estate Blog: Brookfield, CT - August, 2008 Real Estate Market Report

This post has been included in Connecticut Information
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2 Comments on Brookfield, CT - August, 2008 Real Estate Market Report

SEP

2008

Hi Don:

I see you do a bunch of the market reports, are you having any response from buyers or sellers that they are reading them? Just curious if I should do more...

SEP

2008

Kelly - I advise all agents to create market reports. There are two benefits to doing so:

1. You will be the most knowledgeable agent regarding all market characteristics and statistics
2. Buyers and sellers will appreciate your knowledge and insight into the market and its fluctuations.

These market reports take about an hour each to create. Our MLS does not count cumulative days on market, so I have to calculate that number myself. However, it gives a much truer picture of the real market time sellers can expect.

If you go on our MLS, you'll see an average of 90 - 100 days on market. When you factor in the cumulative days on market (adding in the market times of properties that were cancelled and immediately re-listed as new, along with those that expired and were re-listed) then you come up with the actual marketing time, which in the case of this market report averaged 178 days - quite a bit of a difference from the stats easily obtainable from the MLS.

And, of course, I do hear from future clients about these reports. I've actually added in two towns that I now report on regularly, because I had received so many requests from the public for more information on those towns.

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