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New Milford, CT - March, 2007 Real Estate Market Report

New Milford, Connecticut Real Estate Update
March, 2007

Closed home sales in New Milford, Connecticut:

Single Family Homes:
In March of 2007, there were 19 single family home sales closed in New Milford, CT.
List Prices ranged from $239,900 - $1,295,000.
Closed Sales Prices ranged from $215,000 - $1,115,000.

The average closed real estate sales price for single family homes in New Milford for the month of March was $390,135.
The median closed sales price was $325,000.
On average, these homes sold for 95% of their final list price.
Days on Market ranged from 32 - 632 days, with the average being 193 days of market time.

This compares to 22 single family homes closed in March, 2006, an average closed sales price of $406,081 and a median closed sales price of $361,500.

Condos:
In March of 2007, there were 19 condominium sales closed in New Milford, CT.
List Prices ranged from $105,000 - $425,000.
Closed Sales Prices ranged from $100,000 - $420,000.

The average closed real estate sales price for condos in New Milford for the month of March was $207,255.
The median closed sales price was $182,000.
On average, these homes sold for 98% of their list price.
Days on Market ranged from 30 - 205 days, with the average being 102 days of market time.

This compares to 14 condos closed in March, 2006, with an average closed sales price of $165,768 and a median closed sales price of $174,500.

Currently available homes for sale in New Milford, Connecticut:

Single Family Homes:
Currently, there are 294 single family homes for sale in New Milford, CT.
List Prices range from $179,000 for a small ranch to $2,850,000 for a 20 acre estate with an 8,000 square foot main home and four additional detached residences.

Condos:
Currently, there are 88 condos available for sale in New Milford, CT.
List prices range from $64,900 for a studio to $619,900 for a detached unit in a lake community.

New Milford, Connecticut, is the southernmost town in Litchfield County and is known as The Gateway to Litchfield County. The town borders the northeastern shores of Candlewood Lake. Several lake communities surround its Candlewood Lake shores, and typically offer a private beach for residents, boat docks and other amenities. New Milford enjoys a population of about 28,000 residents.

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

Data compiled from the Consolidated MLS and believed to be accurate.

Posted by Don Fabrizio-Garcia - Connecticut Real Estate & Appraisals on 04/18/2007 07:22 PM

Comments (4)

connecticut, ct, litchfield county, new milford, market conditions, real estate, buyers, sellers

This post has been included in Connecticut Information Litchfield County, CT Information New Milford, CT Information

4 Comments on New Milford, CT - March, 2007 Real Estate Market Report

Hey my friend, how is your notebook ? everything fine :)

04/18/2007 09:46 PM

by Aurora Colorado Real Estate Ray Saenz, Colorado Realtor (United Property Brokers, INC)

Hi Ray-Yes, my computer is back home where it belongs. It's running a little sluggish, but hopefully I can take care of that. Read all about it: My Computer is Home from the ICU

04/19/2007 11:16 AM

by Don Fabrizio-Garcia - Connecticut Real Estate & Appraisals (Connecticut Home Group - Keller Williams CT Realty)

Don

Is your market picking up down there? Looks like you guys have some affordable price ranges. In NH it is still pretty slow but showing signs of improvement.

04/21/2007 09:26 AM

by Monika McGillicuddy~ N.H. Real Estate Broker & Trainer (Prudential Verani Realty/Hampstead)

Hi Monika -

Our inventory is increasing. Homes that are overpriced will not sell. But, homes that are priced right, are selling rather quickly, especially in comparison to the other homes on the market.

We have started seeing a few multiple offer situations again. But, this is happening only to those homes that are priced right. It seems the buyers are coming back - we're getting more calls, showings are up on our listings, and we're a little bit busier then we have been.

Our prices for single family homes run the gamut from the $200,000's to well into the millions for lakefront homes. It's nice to be able to have homes in all price ranges that fit most people's needs.

04/21/2007 10:03 AM

by Don Fabrizio-Garcia - Connecticut Real Estate & Appraisals (Connecticut Home Group - Keller Williams CT Realty)

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