The final analysis of real estate saless in Naugatuck for the 2009 year showed remarkable stability from the previous year. Like many of the smaller towns in the Naugatuck Valley, this town shows the proportionate increase in property values the further the distance from the river basin.
Also like other towns along the river, this town started it's gradual decline when the Naugatuck river flooded in 1955 wiping out a great deal of the inner core of the city.
This town was once home to the manufacturing operations of Uniroyal Footwear and Uniroyal Chemical, operations that at one time employed over 5,000 people. The 9 acre space they occupied has been vacant for years and is awaiting a resurgence by the development of a commercial, residential, and cultural development called Renaissance Center. This has been stalled due to various problems, not just the economic slowdown.
The sales comparison analysis is as follows:
| CY 2008 | CY 2009 | Current active | Mos of Inventory | Currently under contract | |||||
| RESIDENTIAL | 228 | 224 | 126 | 10 | 30 | ||||
| CONDOS | 57 | 67 | 46 | 4 | 11 | ||||
| MULTI-FAMILY | 21 | 19 | 22 | 2 | 6 |
In 2009, 224 residential properties were sold with a range in value from $ 17,000 to $480,000 with a median sales price of $184,670. Days on market avg of 96
By comparison, there were 228 units sold in 2008 with a range in value from $16,000 to $500,000 with a median sales price $225,000. Days on market avg of 95
The analysis is relatively consistent for this town of app 35,000 residents. It also demonstrates that a property priced properly, has an excellent chance of selling within a reasonable amount of time.
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