Monthly Market Analysis for LitchfieldCounty and Ten Towns.
Synopsis
In the time frame of 5/1/2009-7/15/2009, according to MLS reported transactions reviewed mid July, Litchfield County had a total of 57 residential closings with a total sale value of $26,591,200 with the average sale price of $466,512. Lot closings in the county were six recorded sales of $2,672,000 with an average sale value of $445,333 Compared to the sales numbers from the previous time frame in 2008 the total quantity of residential was the reduced, (70 in 2008) and the associated sales dollars also reduced. In lot transactions, the total quantity of sales and the associated sales dollars has decreased from the prior time frame down from 8 to 6 sales.
The highest producing towns for residential and lot sales for the time frame warrant mention. Of the 57 residential closings county-wide, 12 occurred in Litchfield with a combined sale price of $4,071,000 and an average sale price of $339,250
Sale prices generally decreased in the area, but List Price to Sale Price remained close on high end properties. Days on market for most properties continue to increase both on Homes and Land and General Land Sales continue to slip in transaction numbers.
Momentum off new potential buyers appears to be picking up as mortgage companies bring out new financing options. Buyers are still cautious and appraisers have a new set of rules to comply with relative to market value. As the summer rolls on, we will just have to wait and see how the federal stimulus package unfolds.
Closing Stats for Ten-Town Report – May 1,2009-July 15, 2009
Cornwall: Five Residential closings, with a combined sale value of $1,568,700 and an average sale price of 313,740. One lot closing reported for a sale price of $60,000
Goshen: Eleven Residential closings with a combined sale value of $8,181,400 and two lot closings with a combined sale value of $1,800,000 and an average sale price of 900,000.
Kent: Residential closings, two reported with a combined sale value of $827,500 and an average sale price pf $413,750. One lot closings were reported for a sale value of $122,000.
Litchfield: Residential closings, 12 occurred in Litchfield with a combined sale price of $4,071,000 and an average sale price of $339,250. One lot closing with a sale value of 295,000
Morris: Residential closings, one with a sale value of $319,900. No lot closings were reported.
New Hartford: Residential Closings, 12 with a combine sale value of 2,769,100 and an average sale price of 230,758. No lot closings were reported.
Salisbury/Lakeville: Residential closings, seven with a combined sale value of $5,425,500 and an average sale price of $775,000. One lot closing was reported with a sale value of 225,000
Sharon: Residential closings, 2, with a combined sale value of 1,118,500 and an average sale price of 592,500. One lot closing reported with a sale value of $230,000
Roxbury: Residential closings, 2 reported with a combined sale value of $902,500 and an average sale price of 451,250. No lot sales were reported.
Washington: Three residential sales reported for a total sale value of 1$1,342,000 and an average sale price of $447,333, no land sales reported.
Disclaimer" note:
7/16/2009
A true market indicator is measured quarter by quarter. For a market analysis breakdown, review the current market and go back three months to look at market trends.
Reporting is based on MLS participating listings, is subject to error, and is intended to give a general idea of the real estate climate for this area. Contact our offices for more market information and availability of properties in this area.
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