Bloomfield CT Market Report for September 2011
The housing market in Bloomfield CT saw a downturn in closed sales both from the previous months and from the same time last year, but it saw an increase in median price. In September 2011, there were 8 closed sales with a median price of $228,950 compared to September 2010, when there were 13 closed sales with a median price of $222,000.
Here is the breakdown by price range:
| Price Range | September 2011 | September 2010 |
| Under $100,000 | 1 | - |
| $100,000-$149,999 | 1 | 2 |
| $149,999-$199,999 | 1 | 4 |
| $200,000-$249,999 | 2 | 4 |
| $250,000-$299,999 | 1 | 2 |
| $300,000-$349,999 | - | 1 |
| $350,000-$399,999 | 1 | - |
| Over $400,000 | 1 | - |
| Total | 8 | 13 |
There are also 23 homes under contract and 14 homes under deposit. With the number of active listings being 137, the absorption rate is 21.7 months, which is definitely a buyers' market.
In looking at the length of time that homes are on the market, we see that the current median days on market is 107, which means that houses are not moving quickly in Bloomfield. This is important for sellers to know because they will need to realize that it will take longer to sell their homes in the current market. Price will continue to be extremely critical and homes that are not priced well will stay on the market.
A bright spot in the Bloomfield housing market, however, is the general rise in median price. Although closed sales dropped, median price has shown an increase over the past several months. Here is a recap of each month in 2011:
| Month | # of Closed Sales | Median Price |
| September | 8 | $228,950 |
| August | 10 | $186,875 |
| July | 11 | $175,000 |
| June | 16 | $174,500 |
| May | 12 | $182,000 |
| April | 11 | $167,000 |
| March | 8 | $184,950 |
| February | 4 | $350,000 |
| January | 7 | $214,000 |
If you are looking for a home in Bloomfield CT, you will find plenty of opportunity for a great home at a great price. The median price for homes currently on the market is $210,000, ranging from $49,900 for a two bedroom, one bath ranch with 1000 sq. ft. to $1.2 million for a 2899 sq. ft. colonial with four bedrooms and 4.2 baths on four acres on the golf course. There are also many fine homes in between. You can search for homes in Bloomfield CT by altering your criteria on the form below:
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