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New Milford CT Weekly Real Estate Market Update May 9, 09

May 10, 2009

New Milford Market Watch

Single Family Homes

I believe that the increase in listings for both active single family homes and condos may have something to do with an increased optimism about the market.

There are currently 281 active single family home listings in New Milford, CT. That is up 8 listings from last week. Lowest price: $100,000, average list price: $486,717, average days on market, 127. Highest price: $6,500,000. Out of these, 22 are under deposit, that is up 1 from last week, lowest price $100,00, highest price $550,000. Average list price: $347,077, Average market time: 93 days. (Days on market still coming down!)

There are currently 3 homes that are pending, 15 less than last week. Lowest price: $278,000, highest price: $375,000. Average list price: $306,967. Average market time: 151 days.

3 homes are showing as sold, same for the third week in a row. Average List price $246,247, average sale price: $235,667, average market time, 119 days. 2 of the 3 were foreclosures.

Condominiums

There are currently 82 active condo listings in New Milford, CT, this is 5 more than last week. Lowest price: $62,900. Highest price: $539,900. Average market time, 164 days.

Out of these, 7 are under deposit, same as the last 2 weeks, lowest price $135,000, highest price $169,000. The average list price: $139,314, average market time: 81 days.

There are currently 12 condos that are pending, up 5 from last week. Lowest price: $89,000, highest price: $400,000. The average list price of these is $173,117. Average market time: 119 days.

1 condos is showing as sold. List price was $98,700. Sale price: $93,000, market time was 26 days.

(The above information is only as good as the agents who list the properties. If the information is not entered into the multiple listing service in a timely manner, or incorrectly this will skew the data. However, I do believe it to be a fairly accurate assessment of the current real estate market in New Milford.)

Are you looking to buy or sell in the greater New Milford area? Give me a call at 203.460.1775, sign up for a listingbook account to search the area MLS, or send me an email to andrea@andreaswiedler.com. I would be happy to discuss your options.

Information provided by the Greater Fairfield County CMLS. Information deemed reliable, but not necessarily accurate.

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