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January 2009 Real Estate Wrap up for Prospect, Ct

By
Real Estate Broker/Owner with Dave Jones Realty, llc. 0789397

Well this should be fast Market update since it was a low production month here in the great town of Prospect! 

Only 3 properties sold.

8 Brookwood Court Listed at $260,000 sold for $262,000 in 14 days.

133 Summit Road listed at $249,900 sold for $218,000 in 235 days.

and 12 Scott Road. Listed at $247,500 sold for $238,500 in 21 days.

The three homes aveaged 1,400 square feet.

 

If we flash back to January 2008 there were only 2 closings, but BOTH were over $400,000 and averaged over 3,100 square feet.  I see a trend of smaller, more affordable housing ushering in the spring market.

 

David J Jones
Broker/Owner, REALTOR, e-Pro
Dave Jones Realty, llc
PO Box 7363
Prospect, Ct 06712
203.758.0264 phone
203.758.0771 fax
www.DaveJonesRealty.com

 

 

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Comments (2)

George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Dave this is a simular trend to what I experienced between 2007 and 2008.  My number of loans for 2007 were the same as 2008, but my volume was less.  The reason for this for me was that a larger percentage of my loans were with First Time Homebuyers in 2008 then in 2007.  First Time Homebuyers are usually purchasing smaller less expensive home, then those that presently own and are moving up.  Thank goodness for First Time Homebuyers who are presently keeping the market going.

Feb 20, 2009 04:15 AM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Seems to be the same trend in my area.  More sales, less expensive homes are what are selling though.  And prices continue to drop.

 

Feb 25, 2009 11:48 PM