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New Milford CT Defies Real Estate Market "Bad News" from the Town Crier!!!!

New Milford CT Defies Real Estate Market "Bad News" from the town crier!!!!

New Milford CT Harris FarmInspired by Pat Kennedy, a super Realtor® in the metro Washington DC area, I decided to take a look at the real estate stats in New Milford for July, from 2005 (before the bubble burst) though 2010. The media has been screaming doom and gloom, the sky is falling, things are bad bad bad. I can't deny it is a scary time out there, that things are still not as they should be. People are losing their homes and jobs across the country. But fear won't help us out of this situation.

What we need to remember is real estate is hyper local. What is true for one area is not true for another. The statistics were taken across the entire United States, even when the statistics involve the northeast, the averages for Maine are not the same as the averages for Connecticut. And within Connecticut the averages for Roxbury, CT are not the same for the averages for New Milford. Hyper local.

There were some that said the ending of the tax credit had stalled the real estate market. Plausible, especially in some areas.

What to the statistics say? We certainly are off from 2005, we are holding our own, steadily climbing out of the real estate black hole. See for yourself! The charts and graphs are self explanatory.

Real Estate market reports New Milford CT July 10

Real Estate market reports New Milford CT July 10

Real Estate market reports New Milford CT July 10


With interest rates at unbelievably low levels, historically low levels, housing prices lower than they have been in years, this is truly the time to buy.




Andrea Swiedler, Realtor, Southern Litchfield County Real Estate

2017 President, Greater New Milford Board of Realtors

2017 Connecticut Magazine 5 Star Realtor

 

 Search homes for sale in Litchfield County, CT.

 

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

Comment balloon 20 commentsAndrea Swiedler • August 26 2010 07:43PM

Comments

That lowest sale price is pretty telling. It takes a serious price incentive to move some of those bottom of the barrel places.

Posted by Julia Odom, Chattanooga Homes for Sale (Select Realty Professionals) about 8 years ago

Julia, the good news is that the amount was not down. I know we have some foreclosures to move, we had not seen many here before the crash. The actual average sale price was up, and that is good news too. Despite what the news says.

Posted by Andrea Swiedler, Realtor, Southern Litchfield County CT (Berkshire Hathaway HomeServices New England Properties) about 8 years ago

Andrea- My post, yesterday, made the same point.  All real estate is local.  CT certainly appears to be bucking the national trend.  In my local market, Westport's July sales were the best since 2005.

Posted by Marilyn Katz, ABR, e-PRO - WestportCTProperties.com (Berkshire Hathaway HomeServices New England Properties) about 8 years ago

Marilyn, I am so tired of the news, it is like they are trying to scare everyone to death. They need to get some good news going on. Our own local stations need to get this word out, instead of all the doom and gloom. Glad to hear it about Westport!!!!

Posted by Andrea Swiedler, Realtor, Southern Litchfield County CT (Berkshire Hathaway HomeServices New England Properties) about 8 years ago

Andrea- love your presentation of your local market facts.  And love the year to year numbers since before the "crash"

Posted by Tammy Lankford,, Broker GA Lake Sinclair/Eatonton/Milledgeville (Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668) about 8 years ago

Tammy, thank you. I was really tired of hearing the bad news ad nauseam. I understand that some markets are so far down, it will take a long time to recover. But when there are pockets of good news, shout it out. Our local stations should be talking this up.

Posted by Andrea Swiedler, Realtor, Southern Litchfield County CT (Berkshire Hathaway HomeServices New England Properties) about 8 years ago

Hi Andrea.  What great visuals!  Looks like things are improving in your area.  Hooray!

Posted by Patsy Overton (Patsy Overton Interiors, Atlanta, Georgia) about 8 years ago

Hi Andrea, I like the hyperlocal term, because it is local within local. Very low interest rates now due to the sluggish economy.

Posted by Gary Woltal, Assoc. Broker Realtor SFR Dallas Ft. Worth (Keller Williams Realty) about 8 years ago

Excellent news Andrea and especially perfect for Thankful Thursday!! Glad to hear there really is light at the end of the tunnel!

Posted by Al & Peggy Cunningham, Brokers, Our Family Wants To Help Your Family! (RE/MAX West Realty Inc., Brokerage) about 8 years ago

Hi Andrea ! We have local differences from county to county here - and my county has held up better than the surrounding ones, and even has some towns experiencing higher sales and slightly higher sales prices ! Local local local - so clients should trust their local Realtor and not always the National News !!!

Posted by Sheldon Neal, That British Agent Bergen County NJ (Bergen County, NJ - RE/MAX Real Estate Limited) about 8 years ago

Andrea, you did an excellent job with this report. but that is what we have come to expect from you :)

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) about 8 years ago

Andrea, like you I tire of hearing the bad news! I am b not trying to avoid because there are some areas where the markets are so bad it is affecting the overall outlook nationwide. Luckily we are doing well in Texas but the news is still so disheartening at times that it can have a deleterious effect on buyers and sellers even in good markets! It is all LOCAL!

Posted by Russell Lewis, Broker,CLHMS,GRI (Realty Austin, Austin Texas Real Estate) about 8 years ago

 Andrea, 20 miles to your East and we have a very different portrait here. Your area has more of a New York influence, and ours is just terrible as the prices have fallen quite a bit, and the market is very hushed.

Posted by Ed Silva, Central CT Real Estate Broker Serving all equally (RE/MAX Professionals, CT 203-206-0754 ) about 8 years ago

Andrea..Prices are down ..interest rates are at an all time low ..It is a Great time to Buy !!!!

HELPFULHANNAH

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) about 8 years ago

Andrea, it seems like there is a sign of improvement in your market.  I hope it continues going well for you.

Posted by Rita Fong, Realtor - Marion Arkansas Homes for Sale (RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590 ) about 8 years ago

Andrea - I somewhat expected us to fall flat on numbers after the tax credit expired.  We should know in the next few months, whether the housing market will strengthen enough to fly on its own.  I continue to admire your graphs.

Posted by Myrl Jeffcoat, Greater Sacramento Real Estate Agent (GreatWest Realty) about 8 years ago

Patsy, why thank you. It seems as if we are holding our own at the moment.

Gary, the interest rates defy logic! I also love the term hyperlocal, and real estate is just that.

Al & Peggy, I am so tired of gloom and doom. I needed something good!

Shel, you are so right about that. Look into what is happening where you live, where you want to buy!

George, you are making me blush, thank you!

Russel, I would just love it if the local news would run local stats, they could be running the stats town by town here.

Ed, I know that. And I am sure to the north of me it is the same. But here, because of our proximity to Danbury and I84, because of Candlewood Lake, because people want to live out in the country while still having shopping close by, we seem to be recovering a bit faster, or holding our own at this point.

Hannah, that it is. Thank you!

Rita, I hope that we continue this trend here!

Myrl, I had expected that here also. And it may hold true for August, I would rather look at an overall trend, not a month trend. However..... because of the news coming out recently, pinning everything on July, the sky was falling, I wanted to look at what WE are doing right here in my little corner of paradise.

Posted by Andrea Swiedler, Realtor, Southern Litchfield County CT (Berkshire Hathaway HomeServices New England Properties) about 8 years ago

You are right Andrea all Real Estate is local. Since the market peak most towns in my area have taken a 25% hit. If you look at the city however it is much lower...around 10%.

Posted by Bill Gassett, Metrowest Massachusetts Real Estate (RE/MAX Executive Realty) about 8 years ago

Bill, our prices have certainly taken a hit, but in all honesty homes are now more affordable and realistic. The good news, homes are selling. We are seeing more foreclosures, more short sales, but we are seeing well priced homes in all price ranges sell. Slower than before, yes, of course. I wanted to see how bad we had dropped from June because of all the press.

Posted by Andrea Swiedler, Realtor, Southern Litchfield County CT (Berkshire Hathaway HomeServices New England Properties) about 8 years ago

Andrea.....Your charts and graphs really provide a great visual on your market.  As you note all real estate markets are truly local, and can vary widely from one area to another.  I'm glad yours is looking up.

Posted by Carra & Shae Riley, Helping people Transition at all ages! (Brokers Guild Cherry Creek Ltd) about 8 years ago

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