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Madison CT Homes - Madison Real Estate Market Report December 2009

Real Estate Agent with RE/MAX Alliance 0754296

Madison CT Homes - Madison Real Estate Market Report December 2009

Understanding the general direction of the current Madison real estate market conditions is of vital importance to both buyers and sellers in order to help you make a more informed decision when buying or selling a home in Madison.

There are currently 192 Madison CT homes for sale ranging in price from $89,599 for a seasonal cottage to $6,950,000 for a direct waterfront estate. In the month of December 2009 there were 13 homes that closed which is an increase of 3 home as there were 10 Madison CT homes that closed in December 2008.

The average sales prices of Madison CT homes sold in December 2009 was $512,793 with an average 97 days on the market versus $529,780 for those sold in December 2008 with an average 111 days on the market.

Below is a summary of the Madison real estate market that provides a more in depth view of market conditions over the past twelve months.

Madison Real Estate Market Report

For the period of January-December 2008 there were 168 Madison CT homes sold withan average list price of $662,995, an average sales price of $620,045 and a median sales price of 465,000.

For the period of January-December 2009 there were 180 Madison CT homes sold with an average list price of $594,493 an average sales price of $549,610 and a median sales price of $438,500.

The average sale price to list price ratio for January-December 2008 was 94,48% and for January-December 2009 was 94.03%.

The average days on market for January-December 2008 was 107 days and for January-December 2009 it was 114 days.

In reviewing this comparison of year to year market data for Madison real estate there has been an increase in the number of homes sold and a considerable decrease in the average sales price. The average days on market for homes sold this year has increased from the previous year.

The data for the December 2009 real estate market report for Madison CT homes is based on statistics provided from the CTMLS (private sales are not included nor are mobile homes).

Click here for previous Madison Connectiuct Market Reports


Contact Donna Bigda, RE/MAX Alliance Licensed Realtor® in the State of Connecticut at 203-488-1641, ext. 214 to list your property for sale or to purchase a property in Branford, Guilford, Madison, East Haven, New Haven, North Branford, Hamden, North Haven, Milford, West Haven and the rest of shoreline area in New Haven County Connecticut.

If you're considering selling your Madison CT home, we'd be happy to provide you with a Pin-Point Price Analysis of your home which will help you determine what it might sell for in today's market.

If you're thinking of buying a home in Madison see Madison CT real estate or sign up today to get access the hottest new listings here Madison CT homes for sale.

Copyright © 2010 by Donna Bigda, All Rights Reserved ...*Madison CT Homes - Madison Real Estate Market Report December 2009*

Ray Saenz
Exit Realty Laredo - Laredo, TX
Homes for Sale in Laredo, TX - Texas, Realtor

Average sales price in the last 3 months have been less, so that's a good indicator for buyers, it's time to buy !

Feb 28, 2010 03:23 PM
Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Donna the most glaring number is the avg sales price which has dropped about 5% over a 6 month period. That doesn't speak to a stable market yet. Thanks for sharing

Feb 28, 2010 11:10 PM
Marilyn Katz
Berkshire Hathaway HomeServices New England Properties - Westport, CT
ABR, e-PRO - WestportCTProperties.com

Donna-  Interesting comparison to your analysis of the Milford.  While Milford appears to be hovering at a balanced market, Madison clearly remains a buyer's market.  Do you have the sense that activity will pick up in Madison as we move further into the spring and summer market?

Mar 02, 2010 01:12 PM
Jamie Dumaine-Russell
RE/MAX Alliance - Branford, CT

Ray - Madison is one of the more higher priced areas along the shoreline and has taken a bit of hit over the past year but it's one of the areas where sales should increase as we near the spring and summer.

Ed - I noticed the same thing and will be interested in seeing how the numbers look in the next 3-4 months.

Marilyn - While Milford and Madison are both desirable areas, Milford tends to attract buyers who want to be closer to Fairfield County and New York City and has a much broader price range to choose from.  Madison is a bit more exclusive area and should see a pick up in activity in the spring and summer.

Mar 12, 2010 11:54 AM