Litchfield County real estate information, local events and more.

According to my most recent real estate sales statistics for New Milford, Connecticut, homes sold for less than 14% of list price! Sort of...

That is 14% of the last listed price, not the original list price. Do you want to see what the original list to sale price was? Well, here it is, for all 11 homes that sold in January 2012 in New Milford, CT.

Original List Price (OLP), Sales Price (SP), Days on Market for the current listing (DOM), % off sales price

OLP 220,000, SP 79,500, DOM 49, 64% OFF the listed price
OLP 169,900, SP 90,000, DOM 209, 47% OFF the listed price
OLP 169,900, SP 135,000, DOM 108, 21% OFF the listed price
OLP 219,000, SP 192,000, DOM 212, 12% OFF the listed price
OLP 259,000, SP 200,000, DOM 417, 23% OFF the listed price
OLP 284,900, SP 245,000, DOM 231, 14% OFF the listed price
OLP 285,000, SP 260,000, DOM 64, 9% OFF the listed price
OLP 360,000, SP 299,900, DOM 113, 17% OFF the listed price
OLP 414,000, SP 380,000, DOM 101, 8% OFF the listed price
OLP 875,000, SP 635,000, DOM 180, 27% OFF the listed price
OLP 1,575,000, SP 1,050,000, DOM 253, 33% OFF the listed price

That looks more like a big box store fire sale than real estate sales to me. The actual average percentage off, when you look at the original list to sale price in New Milford, CT was 25% off the list price. WOW!

According to the latest issue of the Commercial Record, Connecticut saw a 13% decline in sales for 2011. The Warren Group has been keeping track of these numbers since 1987 and this is the seventh year in a row we have seen sales drop in Connecticut from the previous year.

What does this mean if you want, or need to sell your home in New Milford, CT?

When we started in January 2012 we had 189 homes for sale. At the end of January only 11 of those homes sold. That is only 5.82% of the inventory that sold.

I can't stress enough to price it right. If you need to sell, you really need to look carefully at the current competition when you list and keep track of them during your listing period. Adjust your price according to the competition. If you don't need to sell, but would really like to, the advice is the same.

But Andrea, we are not going to give it away..... No, you are not. At least not according to the current real estate market. The bottom line is, your house is only worth what a buyer will pay for it.

And when that really low offer comes in, think twice about getting upset. Take a close look at those numbers above. The actual average percentage off from the original list price to the final sales price is 25%, then combine that with some of the days on market and you have a recipe for disaster if you need to sell your home.

For more information about pricing your home to sell and learn about our Ultimate Marketing 24-7, a totally customized marketing system for your home, give us a call at 203.460.1775, or send an email to andrea@andreaswiedler.com.

New Milford CT Real Estate Market Statistics for January 2012

Listen up sellers! When a buyer asks the question, and they will, how much should they reduce their offer from the asking price in New Milford, CT I will have to tell them homes in New Milford, CT are overpriced on average by 14%! In a buyers market, this is not a good average.
As of February 2, 2012 in New Milford, CT there are 194 active single family homes for sale. Last month there were 189, after a few months of the inventory shrinking, it is creeping back up just a bit. 13 are short sales, (there could be more however) and 6 are foreclosures.

11 single family homes sold in New Milford, CT in January 2012. This is down 5 homes from last month.  Of these homes that sold, the average list price was $375,019. The average sale price was $324,218.  These homes sold at 86% of list price, not an average I would strive for.The average market time was 176 days. One short sales and 1 foreclosure were included in January 2012 sales.
The median sales price for a single family home in New Milford, CT for January 2012 was $222,500.

The average list price of single family homes for sale in New Milford, CT is $475,505, which is down $10,000 from January 2012.

The average market time for these active listings in New Milford, CT is 160 days, down 9 days from last month.

The median price of a home for sale in New Milford, CT is $339,900. This is down $4,100 from last month.
The highest price home for sale in New Milford, CT is $5,900,000, a beautiful estate belonging to a world famous comedienne, and located on the New Milford, New Preston, CT border. This home, as of today, has been on the market for 1008 days as of today.

The lowest priced home for sale in New Milford, CT is $71,900, a foreclosure that has been on the market for quite a long time, first as a sale, then as a short sale, now as a foreclosure.

Of the 194 single family homes for sale in New Milford, CT, 9 homes are under deposit. The average list price of these homes is $616,044. The reason this is up so high is that two homes are under deposit that are over 1,700,000. One is an estate in Merryall, the second is a lake home. The average market time is 86 days.

Currently there are 17 homes that are in the pending sale status in New Milford, CT.

The average list price of these homes in the pending sale status is $249,012. The average market time for these homes is 108 days. Four of these are foreclosures and 2 are short sales.

What does all of this mean? Again the inventory is lower than it was, which would be a good thing. However... buyers are still not happy with prices. Sales are low, and you can see the list to sale price is not good at all. Homes are still overpriced, which will cause them to sit on the market longer, or not sell at all. According to the statistics, homes are overpriced by 14%!

The key to selling a home in this market is to price it far better than the other competing homes in the same category. You must grab the buyers attention right from the start, not chase the market down or languish on the market because you outpriced yourself right out of the game.

If you don't believe me about pricing and buyers mentality, check out some interesting stats on The Great Real Estate Divide.

If you are thinking of selling in New Milford, CT check out our Ultimate Marketing 24-7, a custom marketing program that will dominate the internet.

Check out the previous home sale market activity report for December, 2011.

Interest rates are still low, are you are ready to buy a home in New Milford, CT? Click here to search for homes for sale in New Milford.

The above statistics are provided courtesy of Greater Fairfield County Multiple Listing Service (CMLS). Information provided is deemed reliable, but not necessarily accurate. There may be discrepancies, as mistakes in inputing can be made, and the fact that Connecticut has more than one multiple listing service. There may be instances where a home was/is for sale in New Milford and is on the other multiple listing service. Most of the homes for sale are listed on CMLS, therefore that is where I base my statistical information. I do believe it gives a good sense of what is happening in New Milford.

Do you know a guy who can.....???

I hear this all the time. Yes, I do, I know a guy who... cleans up and out, paints, pulls oil tanks, is a master carpenter, plows, mows, is a fantastic electrician, great plumber, on and on, tried and true, tested over and over again.

As a side note, every time I hear that question "do you know someone...", I can't help thinking about one of my most favorite movies, "Dirty Rotten Scoundrels". The police chief says "A man owes me a favor. Rene the Knife. He is a master with a stiletto and a magician at hiding a body." Of course that just may illustrate how my mind works and might have been better left unsaid. As an example...

Andrea, do you know someone that can pull this oil tank? I remember saying exactly this, "I know someone who is a master with a backhoe and a magician at making the tank disappear!" Now do you see why I think of that movie?

Most real estate agents have a list of guys and gals, companies who are tried and true. I know I do. And they don't get on my list just because I know them. They get on my list because my clients love them, because they don't disappoint, because I know I can trust them. Getting on my list is not easy, getting off the list is easy peasy. Bad review from a client and they are off, off, off.

Why is this important? If you are thinking about selling your home in lower Litchfield County CT and your house needs work, you will want to have access to my list. Because if you don't clean it up and out it will cost you. Don't believe me? Read my story "I met a guy who sold a house". Or you haven't kept up with home maintenance yet you want to get as much as possible for your home, read this story "Why didn't my house sell?". (Pay close attention to the comments of other real estate agents, they know what they are talking about.) Then you will understand why it is so important that I have my "I know a guy/gal" list. They are masters of their trade, magicians at getting the job done. One of the THREE MOST IMPORTANT THINGS about GETTING A HOUSE SOLD in Litchfield County CT is the condition of the house.

• Priced according to local real estate market conditions
• Priced according to the condition of the house
• The marketing skills of the real estate agent

And by the way, my list is just as important for a buyer! Trusted mortgage professionals, home inspectors, local insurance agents, people who can help you make the home you want to buy the home of your dreams!

So yes, I know a guy...

You had your house for sale in Litchfield County... and it didn't sell. (You might be thinking.. why is she writing about that again?) In a nutshell, NO MATTER HOW MUCH I TALK ABOUT IT, WRITE ABOUT IT, WE STILL GET THESE PHONE CALLS!

We have some tough questions for home owners. It is our roadmap, so to speak.

• Did you have a dollar amount already set when you priced your home?
• Did your price reflect what you want to get for the sale of your home?
• Did your price reflect the current local real estate market activity?
• Do you understand the current local real estate market?
  
• Did your price reflect the actual condition of your home?
• Are you really aware of the actual condition of your home?
  

Next, a walk around the home. Have you learned to live with things that you no longer see? Do you really understand how a buyer will see your home?

Routine maintenance. A new roof is routine maintenance. Septic repairs are routine maintenance. How is your heating system? Is it new? That is routine maintenance by the way. Because if it is broken, leaking, not working properly it should be repaired or replaced. But here is the key.... and easy to remember.

1. If it was repaired or replaced, it is not going to cost you money off the price of the home! Yeah!
2. If it wasn't, if your roof is at the end of its life, if you need a new septic system, if any of your mechanicals are not working properly it will cost you.
   

If you did keep up with the routine maintenance of your home, you get a gold star, a pat on the back, an atta boy atta girl, but you don't get extra money. But you don't get money deducted!!! It is a great selling point though, something to be featured prominently in the marketing of your home.

Are you the nicest house on the block? Are you the only new colonial set in a field of 1980's raised ranches? Does your neighbor have a graveyard of dead vehicles in his back yard? These things also affect the price of your home, the desirability of your home.

Why didn't my house sell? Here is the real answer to that question. It didn't sell because buyers didn't find it attractive enough to make an offer. If it is not priced for condition, for location, according to the current local real estate market you will not sell.

And here is something you may not even realize. If it is overpriced they won't even consider it because it is off their radar in the first place!

When you call us and ask why your home didn't sell in Litchfield County we will let you know. The proper diagnosis will help you make the most important decision of all.

Are you really ready to sell your home in Litchfield County, CT?

Because if you price it ahead of the competition, if you price it according to the current local real estate conditions, if you price it according to the condition of the home, conditions of your neighborhood, you stand a far better chance of selling. If not, you will be asking that question over and over again.

"WHY DIDN'T MY HOUSE SELL???

Located in the Northville section of New Milford, CT this great raised ranch is looking for its newest owner. Take a look here!

3 Bedroom Home in Northville, New Milford CT

Overview Maps Photos Features Description Neighborhood

$225,000 Single Family Home Main Features 3 Bedrooms 2 Bathrooms 1 Partial Bathroom Interior: 2,392 sqft Lot: 0.47 acre(s) Location 14 Cornell Rd New Milford, CT 06776 USA To get updates on open home dates and other property events, please click the "Like" button below:

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Andrea Swiedler, Swiedler & Adams Prudential Connecticut Realty (860) 355-2646 X 19 andrea@andreaswiedler.com http://www.andreaswiedler.com Listed by: Prudential Connecticut Realty

Our recent listings 3 Bedroom Home in Northville, New Milford CT Washington CT One Level Living, Great Condo Alternative! Country Estate in Roxbury CT In Town Rental, New Milford, CT 266 Chestnut Land Rd Home For Sale With Built In Pool Subscribe to our listing feed

Nearby properties for sale

Sometimes I feel as if it is David vs. Goliath. Living in what I consider to be a rural area I have watched as large companies either force out local businesses or buy them out. Time and time again. And the sad part is, we lose. When it happens we often see job loss, we can see a loss of quality of service, we lose a sense of community. I know there is often no way to combat this tide, yet it doesn't make me happy.

A few years ago I was helping a dear friend find a company to replace his oil burner. A well known local family owned company had just been bought up by a company based out of Canada. I spoke at length with a sales rep there who insisted that the new company was committed to the same level of service. They were even thinking about keeping the old company name as it was so well known and well respected here. (they never kept the old company name, and a good thing or the old man would be turning over in his grave right about now)

Fast forward a few years.... I used this same company to set up oil delivery on a vacant home. NO, it is  not a foreclosure.... I received the first bill and called them immediately. They tangled all sorts of different homes on the invoice, from two different companies mind you, dating back to 2006. And there was no way to identify where the oil delivery was made and when. We went back and forth about this, each person I spoke to just couldn't understand why it made a difference. Or perhaps they just didn't care.

I was polite, but insisted that if they were going to be paid in a timely fashion they would have to provide me with a bill that pertained to this particular property only, or at the very least would have to identify the property in question as well as dates of delivery. I was also dealing with a global company I had to answer to, and plus I never thought my request was unreasonable.

They had their own take on the issue. They cut delivery off and never informed me. Thankfully no damage occurred, but we were close. And when contacted again, they were nasty, arrogant and were not willing to work with me to make the changes we needed on the invoice. Nor were they willing to deliver oil until the bill was paid. The attitude was amazing actually. And no changes were going to be made to the invoice. They would not remove the old balances (as I said, they had combined two separate companies on the invoice in the first place), we would play their way or no way. The only way I would have of identifying the delivery address would be the delivery ticket that was left outside at the house. Interesting...

Just to be clear, the overdue amount was not that overdue, we are talking weeks here, and I thought we were working together to resolve the issue at hand, to have an invoice that was acceptable to submit for payment.

So now I am preparing to move the account to one of the few remaining local companies. What was I thinking in the first place? Well, a long standing history of doing business with the original company, the thought that local people still work for the new company. The memory of the conversation I had with the sales rep a few years earlier. What is clearly apparent is the old company is long gone, the new company has a lousy sense of customer service and has lost my business for good.

Of course word will get out... if they happen to care or realize that local people yap. What was it I heard the other day? Oh yeah... the three fastest ways of getting something out there..

TELEPHONE, TELEGRAPH, TELL-A-REALTOR!

David will smash Goliath this time. David has a choice. I am calling a very local company today and setting up a new account. I know the level of customer service will be one that I can rely on. We may pay a few more pennies for the oil delivery, but I know if there is a problem I can actually speak to the owner. I also know if there is a problem he will work hard to resolve the issue because of a good work ethic, there is the sense of community, the realization that a satisfied customer means everything to the success of a business.

What is most unfortunate is that these larger companies just don't care. When they take over a smaller company they need to make sure they understand the lay of the land and make sure their employees are giving good old fashioned local customer service, as if it were a mom and pop operation.

I should have made this choice the first time around, live and learn I guess.

Roxbury, Connecticut, located in the southern Litchfield County, continues to be a highly desirable place to live for those seeking that spectacular weekend country estate as well as those who live here full time. Home sales in Roxbury, CT for 2011 were a bit slower with fewer homes selling at a lower average sale price. However, Roxbury is still showing large, pricey estates are selling.

The highest dollar amount in 2011 that sold in Roxbury, CT was for $7,750,000. A 10,775 square foot custom home, built by a designer, on 66 acres. In any market, that is a good sale.

Roxbury Connecticut Real Estate Statistics

Currently in Roxbury, Connecticut there are 57 homes for sale, ranging in price from a small antique on Church Street listed at $189,500 to a dramatic contemporary with walls of glass overlooking 9 beautiful acres, complete with horse barn listed for $4,800,000.

The average list price in Roxbury, CT is currently $1,427,376
The average market time for the active listings is 229 days

In 2011, 24 single family homes sold in Roxbury, CT.

Average List Price:         $1,067,027
Average Sale Price:        $930,842
Average Market Time:     264 days

What does all this mean? Sales of homes in the smaller towns of Litchfield County, CT are down, especially in the estate areas such as Roxbury. Yet Roxbury has had the highest recorded sale in the county and is still attractive to buyers. It does take time to sell a home, and there are some great homes to purchase in Roxbury. All in all, not to bad considering the market overall.

A bit about Roxbury, Connecticut

Located in the Shepaug River Valley in lower Litchfield County, Roxbury, CT is a wonderfully picturesque town. Covering 27 square miles of rolling Connecticut countryside, Roxbury is home to approximately 2,340 residents, some full time, some weekenders escaping the hustle and bustle city life. Roxbury is a unique little corner of the world in Litchfield County, the lure of the lifestyle here has attracted many. From the most famous to the people who grew up here. A great blend of people in the most amazing setting.

See Roxbury, CT through my eyes.

The Roxbury Land Trust works hard to preserve the character of the land for future generations. Currently 17% of land in Roxbury is conserved as open space. This makes
for some scenic hiking trails, the mines, fishing along the Shepaug along with other great outdoor activities!

Here is my year end wrap up for the New Milford CT real estate market. I have compared sales volume and price from 2001 through 2011 to see where we came from and what has happened. It has been quite the ride, to say the least.

2011 did not go out with a bang, it crept out with a whisper as far as the real estate market is concerned.  The sales volume is down from the previous year, as is the average sales price. I wish I could make some fantastic prognostication about the 2012 real estate market, however someone took my crystal ball. 

I do have good news. Last January, 2011, I posted the real estate absorption rate for New Milford, CT. That tells us how long it would take us to sell the CURRENT inventory. (It does not, however, take into consideration any new listings that might come on the market.) A balanced market is 6 months worth of inventory. A buyers market is anything over 6 months, a sellers market is anything under 6 months. January of 2011 we had an absorption rate of 22 months. Currently we have an absorption rate of 8.5 months. In that respect things are looking up! I would rather see an 8.5 month absorption rate than a 22 month one! However, I assume that more homes will be coming on the market over the next few weeks, bringing the absorption rate back up again.

Out of the 207 homes that sold in New Milford, CT this past year, 25 were foreclosures. That is 12 percent of our real estate market. 12 show as short sales, however we really do not have a great way of tracking them at this time in our multiple listing service. At least 18% of the homes that sold in New Milford in 2011 were distressed homes of some type. This is a large amount, one we need to sit up and take notice of. This affects homes that are currently on the market, as well as the people who lost their homes either to the foreclosure or the short sale.

The reality is that it is very difficult for many people to put their home on the market at a price that will bring offers and sell the house. There are many reasons for this, most of them financial. Read about the Great Real Estate Divide here.

If you find yourself in that situation, if you need to sell but you owe more than your home is worth, you can read a very good Q&A on short sales. Then give us a call at 203.460.1775 to discuss the options of a short sale.

How's the real estate market in New Milford, CT? Check it out.

As of January 3, 2012 in New Milford, CT there were only 189 active single family homes for sale. Last month there were 209, the number has been dropping for the past few months. This is the lowest I have seen it in a long, long time. 16 are short sales, (there could be more however) and 7 are foreclosures.

Does a year make a difference?

January 2011 there were 211 single family homes active. 10 were foreclosures. Average list price: $454,249.
January 2012 there were 189 single family homes active.  7 were foreclosures. Average list price: $485,657.

16 single family homes sold in New Milford, CT in December 2011. This is the same amount as November 2011.  Of these homes that sold, the average list price was $267,484. (Down quite a bit from the November average list price of $331,100.) The average sale price was $250,417. Again this is down from November when the average sale price was $317,007. The average market time was 118 days. Two short sales and 2 foreclosures were included in December 2011 sales.

The median sales price in December was $237,500, down considerably from November, 2011.

The average list price of single family homes for sale in New Milford, CT is $485,657, up a few thousand over last month.

The average market time for these active listings in New Milford, CT is 169 days, down from last month.

The median price of a home for sale in New Milford, CT is $344,000. This is down $5,000 from last month.

The highest price home for sale in New Milford, CT is $5,900,000, a beautiful estate belonging to a world famous comedienne, and located on the New Milford, New Preston, CT border. This home, as of today, has been on the market for 978 days as of today.

The lowest priced home for sale in New Milford, CT is $96,900, a foreclosure, will require quite a bit of work and is not finished yet.

Of the 189 single family homes for sale in New Milford, CT, only 8 are under deposit. 11 homes are under deposit. The average list price of these homes is $458,963, which is up almost $100,000 from last month. The average market time is 130 days.

Currently there are 19 homes that are in the pending sale status in New Milford, CT.
The average list price of these homes in the pending sale status is $339,900. The average market time for these homes is 143 days. Two of these are foreclosures and 4 are short sales.

What does all of this mean? I am a bit surprised at how few homes are on the market, I have not seen it this low ever. Many did expire on January 1st, and only time will tell if they gave up, or if the homes will come on later. Pricing seems to be the key factor, and as we have more and more foreclosures and short sales on the market, pricing to sell is the only way for a seller to go.

The key to selling a home in this market is to price it far better than the other competing homes in the same category. You must grab the buyers attention right from the start, not chase the market down or languish on the market because you outpriced yourself right out of the game.

If you don't believe me about pricing and buyers mentality, check out some interesting stats on The Great Real Estate Divide.

If you are thinking of selling in New Milford, CT check out our Ultimate Marketing 24-7, a custom marketing program that will dominate the internet.

Buyers can take advantage of some pretty amazing deals these days, between jaw dropping interest rates and home prices, as long as the seller realizes that the best price they will realize from the sale of their home is the one a buyer is willing to pay and the bank is willing to loan on it. I hope that this new year brings buyers and sellers together.

Check out the previous home sale market activity report for November, 2011.

Interest rates are still low, housing prices are low, are you are ready to buy a home in New Milford, CT?

Click here to search for homes for sale in New Milford.

The above statistics are provided courtesy of Greater Fairfield County Multiple Listing Service (CMLS). Information provided is deemed reliable, but not necessarily accurate. There may be discrepancies, as mistakes in inputing can be made, and the fact that Connecticut has more than one multiple listing service. There may be instances where a home was/is for sale in New Milford and is on the other multiple listing service. Most of the homes for sale are listed on CMLS, therefore that is where I base my statistical information. I do believe it gives a good sense of what is happening in New Milford.

But more to the point.... was it the price of the house in Litchfield County, or the buyer that came first? These days it is the price, then the buyer will most likely follow. If the price is too high, there won't be any buyer. If it is priced right, given the most current market conditions and the condition of your home, your house will be shown to prospective buyers.

You need to get buyers in to look in order to procure that all important offer!

A few questions to ask when you are considering selling your home.

• What are the most current market conditions for your area?
• What price will put my home ahead of the pack?
• How is your house going to be marketed to put it in front of as many buyers as possible?
• Ask to see a customized marketing plan for your home.
  

The real estate market in Litchfield County, CT varies from town to town, and from price point to price point. The smaller towns are feeling the pinch, towns like Roxbury, Washington, Kent, Bridgewater, CT have slowed to a crawl. Even New Milford is in a slowdown. The holidays, combined with the snow storm in October and all the cleanup that followed, have impacted the local real estate markets.

However... there are still homes that sell. Make sure you understand the market, the CURRENT and LOCAL real estate market. Put a price on your home to generate interest, and make sure that the interest is being generated to those prospective buyers that are on the internet looking for their new home!

For more information, give us a call at 203.460.1775 to discuss the most current real estate market stats that pertain to your home and the local area, and our unique marketing approach to get your home out to as many buyers as possible.