Single Family Home Sales for New Milford CT, November 2013
The real estate market in New Milford CT is still recovering. We are in a buyer's market, slogging through short sales and sale prices are not rising.
Although October showed a rise in the average sale price, the numbers were skewed as the result of a sale of a property of over 4 million. The November average sales price was down again. Given that we can see the numbers are really fairly consistent, hovering between the high $200,000's to the low to mid $300,000's.
Comparing November 2012 to November 2013, the amount of sales are down by 2 and the average sales price was also down by more than $21,000.
With many parts of the country showing a stronger recovery it tells me we are getting there, it will take more time, more jobs in Connecticut and a stronger local economy for Southern Litchfield County to show improvement. The good news is we are holding fairly steady. With other parts of Connecticut showing a stronger real estate recovery it follows that our time is coming!
For buyers it is all good news. The only problem is that often buyers are competing in the same price range so it can be very frustrating. But prices are still down and interest rates are low so it does make for a good buying climate.
For sellers it may not be such good news unless you are realistic about your price and have an aggressive and proactive marketing plan for your home. You want to be in that select group of homes that sells, not the ones that sit forever with multiple price reductions. If you are thinking of selling check out our innovative marketing plan and find out more information about Swiedler, Pomerantz & Adams, The SPA Team.
Take a look at the charts below, I think they tell the story quite well. Notice that if we had no more homes come on the market it would take 11 months to sell the current inventory.
Profile of homes sold in New Milford CT. We are still working through distressed properties, and the strongest selling price is between $200,000 - $300,000.
New Milford CT is often referred to as the gateway to the Litchfield Hills. It is the largest town area-wise in Connecticut at over 64 square miles. We have well established subdivisions and some newer subdivisions with homes of all sizes and prices. There are homes in more private settings, modest to large estates. Candlewood Lake is a big draw to the area, you can purchase a home with direct waterfront, a home with a view of the lake or homes in lake communities that offer private beaches and docks.There are a variety of stores along Route 7 and a vibrant downtown village center with a distinctive upscale small town feel.
New Milford is the quintessential New England Village with all the bells and whistles! With easy access to I84, New Milford has long been a favorite place to live, with a small town feel and a wide variety of amenities and conveniences.
Andrea Swiedler, Realtor, Southern Litchfield County Real Estate
2017 President, Greater New Milford Board of Realtors
2017 Connecticut Magazine 5 Star Realtor
Coldwell Banker Residential Brokerage
Litchfield County Regional Office,375 Danbury Rd, New Milford, CT 06776
© Andrea Swiedler 2009 - 2017
Always do right. This will gratify some people and astonish the rest. - Mark Twain