Bridgeport Single Family Homes Sales Update
As of November 30,2008
Bridgeport Real Estate is sailing into some very tough head winds. The number of closed sales through November 30th totals 370 as reported by the Greater Fairfield County MLS. This is down 25% from 2007. This would at first glance appear to be relatively good news since most surrounding towns are not as close to last year. However, this is a multi year trend for the City. Home Sales are off 60% from the peak year of 2004 when 911 homes had sold in the same time period.
With 493 homes for sale, this translates to an average Market Time of 15 months. Average Selling Price and Median Sales Price are down 20% and 21% respectively from last year.
There are plenty of choices, low interest rates and some great investments for buyers in this market. This all makes for some great holiday shopping.
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