Property Sales

October Property sales were 6, down -14.3% from 7 in October of 2010 and -33.3% lower than the 9 sales last month. October 2011 sales were at their lowest level compared to October of 2010 and 2009. October YTD sales of 62 are running -33.3% behind last year's year-to-date sales of 93.

Prices

The Median Sales Price in October was $180,000, up 29.5% from $139,000 in October of 2010 and up 18.4% from $152,000 last month. The Average Sales Price in October was $216,000, up 43.6% from $150,429 in October of 2010 and up 37.9% from $156,589 last month. October 2011 ASP was at highest level compared to October of 2010 and 2009.

Inventory & MSI

The Total Inventory of Properties available for sale as of October was 54, down -3.6% from 56 last month and up 12.5% from 48 in October of last year. October 2011 Inventory was at a mid range compared to October of 2010 and 2009.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The October 2011 MSI of 9.0 months was at its highest level compared with October of 2010 and 2009.

Market Time

The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for October was 57, down -17.4% from 69 days last month and up 9.6% from 52 days in October of last year. The October 2011 DOM was at a mid range compared with October of 2010 and 2009.

Selling Price vs Original Listing Price

The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The October 2011 Selling Price vs Original List Price of 95.3% was up from 95.2% last month and up from 95.2% in October of last year.

Inventory / New Listings / Sales

'This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in October 2011 was 11, down -45.0% from 20 last month and down -31.3% from 16 in October of last year.

If you, or someone you know are looking to buy, or sell a condo in Hartford county, please give me a call! I will be glad to assist you with your real estate needs!

You can surf my website for more information on our market: www.WeNeedANewHouse.com

Please feel free to contact Tatyana with any real estate questions: www.WeNeedANewHouse.com, or call her at (860) 648-9270.