The 3rd quarter has ended and the Town of Litchfield is now moving
into the final quarter of 2009. I calculated the absorption rate for
the Town of Litchfield (to read a definition of absorption rates go to
www.chris-bonta.com ) and below are the results of what I found. In
calculating the absorption rate for the Town I looked at three things,
the Towns overall absorption rate, just residential homes rate and
finally the rate of absorption for the condominium market. The price
range used to determine the absorption rate was properties falling in
between $50,000 upto $600,000.
The Town of Litchfield ended the year with an absorption rate of 10.85
months, which is not bad when compared to other Towns like Windham
that has a rate of over 14 months, but not as good as Londonderry
which has an absorption rate in the 8 month range . The break down
between residential and condo's came out showing that their is a wide
gap between the two markets. The residential absorption rate is 9.9
months (with 44 active listings) and the rate for condo's is 13.25
(with 22 active listings). I also looked at days spent on market and
residential properties are averaging 139 days and condo's are
averaging 222 days.
If you are selling your home or thinking about selling your home, you
want to look closely at these numbers and keep this information in
mind when determining price and how long you expect to be on the
market.
Based on information from the Northern New England Real Estate
Network, Inc. for the period 10/01/2008 to 9/30/2009
Contributed by : Christopher Bonta, Sales Associate, Bean Group-- Derry
