New Haven County Real Estate and Homes for Sale, November 2009 Market Report
Homes for Sale in New Haven County - November 2009 sales were 421, up 32.0% from 319 in November 2008 and -17.5% lower than the 510 sales last month. November 2009 sales were at their highest level compared to November of 2008 and 2007. November YTD sales of 4,694 are running 0.6% ahead of last year’s year-to- date sales of 4,668.
Median Price - The Median sales price in November was $224,000, down -2.6% from $230,000 in November of 2008 and down -2.0% from $228,500 last month.
Average Price – The Average Sales Price in November was $257,421, down -6.5% from $275,339 in November of 2008 and down -0.1% from $257,656 last month. November 2009 ASP (average sales price) was at the lowest level compared to November 2008 and 2007.
Inventory - The total inventory of homes available for sale as of November was 3,765 down -1.1% from 3,806 last month and down -13.0% from 4,330 in November 2008. November 2009 Inventory was at its lowest level compared with November of 2008 and 2007.
A comparatively low MSI (month's supply of inventory) is more beneficial for sellers while a higher MSI is better for buyers.
The MSI (month’s supply of inventory) for November 2009 of 8.9 months was at its lowest level compared with November 2008 and 2007.
Market Time - The average Days On Market (DOM) shows how many days the average home is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyers market, a downward trend a move towards more of a Seller's market.
The DOM (days on Market) for November was 87, up 10.1% from 79 days last month and down -1.1% from 88 days in November of 2008. The November 2009 DOM was at mid level compared with November of 2008 and 2007.