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The ActiveRain Realtor® Nationwide Survey about Connecticut.

May 23, 2010

The ActiveRain Realtor® Nationwide Survey about Connecticut.

New Milford CT Town HallCurrently in New Milford, Connecticut real estate market things have slowed down. The phones in the offices are not ringing as they were a few weeks ago. We will see more homes close in May and June than the past few months, probably due to the end of the home buyers tax credit. So far this month there are 15 single family homes that have sold, last month for the entire month there were 18 homes. We also have 24 in a pending sale status, that will force the number of sold homes up for the next month or so.

Homes prices continue to inch downward as interest rates remain fantastic! The lower priced homes under $300,000 are selling. The average sale price for last month was $319,093 in New Milford, CT. This month, so far the average sale price is $346,997, which is a significant increase. Again, this may be due to the home buyers tax credit.

We are seeing a few more foreclosures, but they haven’t generated any bidding wars. They are usually in very bad shape and require large sums of money to put them back into shape. Homes that are in better shape are gaining far more attention on a regular basis.

All in all a slow but steady recovery seems to be happening in the New Milford, CT real estate market. I am cautiously optimistic for a continued good recovery in the real estate market in New Milford, CT.

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