Newington CT Market Acticity

By
Industry Observer

We are beginning to see many more changes in our market in the last few months.   About 1/2 the houses are being sold each month as compared to the same time last year.  About twice the number of houses are on the market.  SO it is definely a buyers market with an inventory approaching 8 to 9 months.

Short sales have really picked up in town as well as foreclosures becoming more prevalent. 

I'd say we are defintely in the downard spiral.  Although everytown around has its own market issues.  Sometimes up and sometimes down.   Not all the same.  West Hartford continues to hold its own.   Our median prices are down about 10-11%.  Other towns more, especially the big cities.

What's happening in your town?????

Posted by

John Oman

Retired Realtor

Office IT and Admin

Century21 Stamm Eddy

860 402-3404

John.Oman@JohnOman.com

 

Comments (1)

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

John, the mortgage end of the business is real busy, and I hope it continues this way for a few more months.

How did you make out with the Attorney downstairs?

Apr 07, 2009 06:25 AM