Litchfield County real estate information, local events and more.

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.