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Connecticut Shore Homes Market Watch
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Currently the Connecticut Real Estate market is under some stress with tremendous buy opportunities in most local markets. However the market is far from distressed. Prices have definitely adjusted downward over the past 18 months and we are seeing pricing that most had thought we would never see again.
This spring many sellers have recognized that in order to sell your property pricing right and sometimes aggressively is very important. Many agents report that they have the usual volume of buyers but most are reluctant to put offers in fearing that there is that perfect house just about to come on the market, or worst yet prices will continue to decline. We are also now beginning to see a reluctance by potential sellers to place their home on the market for fear it will sit there, or that prices will begin to rise and they will be stuck at a lower price.
In tracking market statistics I have found that closings are off slightly year over year, but that houses going under contract are down significantly since the first of the year compared to a year ago. The following chart shows deposits for each town from Jan 2007 to July 2008.
Here is a snap shot for November 2008 Home Sales Market Data For Madison, Guilford, Branford, Clinton, Killingworth.
| Town |
Units '07 |
Median S/P '07 |
Units '08 |
Median S/P '08 |
ADOM '08 |
| Branford |
28 |
$209,750 |
20 |
$202,000 |
112 |
| Clinton |
15 |
$300,000 |
8 |
$232,250 |
135 |
| Killingworth |
5 |
$420,000 |
2 |
$181,500 |
111 |
| Guilford |
17 |
$377,500 |
15 |
$580,000 |
113 |
| Madison |
20 |
$431,000 |
4 |
$1,881,250 |
144 |
Data Source - MLS, Single Family and Condos combined
ADOM = Average Days On Market
Data Source - MLS, Single Family and Condos combined
The following go back to January of 2008
Here is a snap shot for January 2008 Home Sales Market Data For Madison, Guilford, Branford, Clinton. These statistics are homes closing in January.
|
Madison
|
Guilford
|
Clinton
|
Branford
|
| Closed Sales 'Jan07 |
15
|
21
|
14
|
10
|
| Closed Sales Jan'08 |
10
|
14
|
5
|
17
|
| Ave. Sales Price '08 |
$786,370
|
$509,857
|
$321,800
|
$357,294
|
| Median Sales Price '08 |
$345,350
|
$299,950
|
$263,000
|
$282,450
|
Data Source - MLS, Single Family and Condos combined
Here is a snap shot for February 2008 Home Sales Market Data For Madison, Guilford, Branford, Clinton. These statistics are homes closing in February.
|
Madison
|
Guilford
|
Clinton
|
Branford
|
| Closed Sale Feb '07 |
16
|
12
|
9
|
7
|
| Closed Sales Feb'08 |
12
|
14
|
10
|
23
|
| Ave. Sales Price '08 |
$520,893
|
$634,707
|
$232,200 |
$293,104
|
| Median Sales Price '08 |
$458,000
|
$582,500
|
$237,000
|
$204,500
|
Data Source - MLS, Single Family and Condos combined
Here is a snap shot fo March 2008 Home Sales Market Data For Madison, Guilford, Branford, Clinton. These statistics are homes closing in March.
|
Madison
|
Guilford
|
Clinton
|
Branford
|
| Closed Sale Mar '07 |
18
|
19
|
11
|
14
|
| Closed Sales Mar'08 |
17
|
12
|
13
|
26
|
| Ave. Sales Price '08 |
$618,618
|
$471,725
|
$328,923 |
$294,038
|
| Median Sales Price '08 |
$481,000
|
$420,000
|
$222,000
|
$256,500
|
Data Source - MLS, Single Family and Condos combined
Here is a snap shot for April 2008 Home Sales Market Data For Madison, Guilford, Branford, Clinton. These statistics are homes closing in April.
|
Madison
|
Guilford
|
Clinton
|
Branford
|
| Closed Sale Apr'07 |
22
|
21
|
17
|
29
|
| Closed Sales Apr'08 |
11
|
23
|
17
|
31
|
| Ave. Sales Price '08 |
$491,818
|
$443,898
|
$294,029 |
$313,318
|
| Median Sales Price '08 |
$425,000
|
$380,000
|
$252,000
|
$290,000
|
Data Source - MLS, Single Family and Condos combined
Here is a snap shot for May 2008 Home Sales Market Data For Madison, Guilford, Branford, Clinton. These statistics are homes closing in May.
|
Madison
|
Guilford
|
Clinton
|
Branford
|
| Closed Sale May '07 |
27
|
33
|
17
|
44
|
| Closed Sales May'08 |
17
|
26
|
17
|
25
|
| Ave. Sales Price May'08 |
$516,116
|
$508,262
|
$578,458 |
$282,721
|
| Median Sales Price May'08 |
$495,000
|
$480,000
|
$344,000
|
$235,000
|
Data Source - MLS, Single Family and Condos combined
Here is a snap shot for June 2008 Home Sales Market Data For Madison, Guilford, Branford, Clinton. These statistics are homes closing in June.
|
Madison
|
Guilford
|
Clinton
|
Branford
|
| Closed Sale June '07 |
44
|
43
|
20
|
50
|
| Closed Sales June '08 |
23
|
29
|
11
|
34
|
|
Ave. Sales Price June'08
|
$665,357
|
$499,952
|
$357,000 |
$350,863
|
| Median Sales Price June '08 |
$550,000
|
$400,000
|
$330,000
|
$312,000
|
Data Source - MLS, Single Family and Condos combined
Here is a snap shot for July 2008 Home Sales Market Data For Madison, Guilford, Branford, Clinton.
|
Madison
|
Guilford
|
Clinton
|
Branford
|
| Closed Sale July '07 |
25
|
30
|
30
|
35
|
| Closed Sales July'08 |
24
|
24
|
13
|
30
|
|
Ave. Sales Price July'08
|
$690,603
|
$417,073
|
$246,500 |
$450,205
|
| Median Sales Price July '08 |
$634,500
|
$363,000
|
$239,500
|
$276,000
|
Data Source - MLS, Single Family and Condos combined
Here is a snap shot for August 2008 Home Sales Market Data For Madison, Guilford, Branford, Clinton.
|
Madison
|
Guilford
|
Clinton
|
Branford
|
| Closed Sale Aug '07 |
38
|
35
|
32
|
43
|
| Closed Sales Aug'08 |
23
|
33
|
14
|
43
|
|
Ave. Sales Price Aug'08
|
$533,000
|
$481,841
|
$335,386 |
$357,958
|
| Median Sales Price Aug'08 |
$420,000
|
$459,000
|
$267,400
|
$225,000
|
Data Source - MLS, Single Family and Condos combined
Here is a snap shot for September 2008 Home Sales Market Data For Madison, Guilford, Branford, Clinton, Killingworth.
|
Madison
|
Guilford
|
Clinton
|
Branford
|
Killingworth |
| Closed Sale Sept '07 |
19
|
30
|
11
|
42
|
2
|
| Closed Sales Sept'08 |
10
|
19
|
15
|
26
|
4
|
|
Ave. Sales Price Sept'08
|
$533,950
|
$985,485
|
$508,327 |
$291,115
|
$434,750
|
| Median Sales Price Sept'08 |
$420,750
|
$340,000
|
$416,000
|
$250,000
|
$449,500
|
Data Source - MLS, Single Family and Condos combined
Here is a snap shot for October 2008 Home Sales Market Data For Madison, Guilford, Branford, Clinton, Killingworth.
|
Madison
|
Guilford
|
Clinton
|
Branford
|
Killingworth |
| Closed Sale Oct '07 |
14
|
16
|
18
|
32
|
8
|
| Closed Oct'08 |
20
|
14
|
13
|
25
|
3
|
|
Ave. Sales Price Oct'08
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$488,170
|
$392,045
|
$309,231 |
$250,864
|
$450,333
|
| Median Sales Price Oct'08 |
$357,500
|
$315,500
|
$236,000
|
$202,000
|
$355,000
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We also have 2007 market statistics which will give you a perspective of days on market, market segments for Madison click newsletter. We can and do provide similar data for my clients as we progress on searches and it can be provided for any town we focus on...just ask.
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