Litchfield County real estate information, local events and more.

head_left_image

2012 Year End Real Estate Market Review, Washington CT

Although the national news says otherwise, 2012 real estate sales for Washington CT ended on a sour note with only 3 single family homes selling in December. Washington has been struggling all year, being primarily a second home luxury market, "discretionary funds" have not been as free as they once were. November brought hope to the market, 8 homes closed. That was the highest in the year. However a repeat in December was not meant to happen.

As I write this, there are 66 single family homes for sale in Washington, CT. No homes show under deposit, which is troubling yet again. The good news, the inventory is lower than it has been during 2012, we shall see if this remains the case or not.

2012 Year End Real Estate Review for Washington, CT.

  • 41 single family homes sold.
  • The average list price in 2012 was $1,076,115.
  • The average sale price in 2012 was $707,132.

If no more homes come on the market, it will take 14 months to sell the current inventory of homes in Washington, CT.

Washington CT market reportWashington CT market report

Is pricing a home in Washington, CT irrelevant? Buyers certainly might think so...

Another troubling statistic for sellers is homes sold on an average of 90% of last listed price to sales price. However, they actually sold at 82% of the original listed price. Reductions were key in getting the homes to close, large reductions. If you are selling and have a "must have" price, it could take a long, long time to get that price. If you don't have the time or patience to wait, perhaps you might want to take a look at my article about the 5 "P's" to Selling Your Home. You also might want to learn about our highly customized and internet intensive marketing program for your home.

This is great news for buyers, you are certainly going to get more for your money in a luxury second home in Washington, CT. There does appear to be quite a bit of negotiating room! You can start your search for a home in Washington CT here.

Statistical information obtained from CMLS, data deemed reliable, not necessarily accurate.

Originally posted at 2012 Real Estate Review Washington CT

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 3 commentsAndrea Swiedler • January 04 2013 04:49PM

Comments

Hope that things improve in Washington for 2013, Andrea.  Best of luck!

Posted by Ki Gray, SkiHomes.com - the ultimate snowsport home search! (SkiHomes.com LLC) almost 5 years ago

Andrea -  interesting, things seem to be recovering in my neck of the woods, and I aways thought-  with the lower taxes, your area would recover first... I am hoping that the stats will be different this year..

Posted by Gay E. Rosen, As Real as Real Estate Gets! (Julia B. Fee Sotheby's International Realty) almost 5 years ago

Andrea,

And interest rates are ticking up....  Not good for the real estate market.

Ann Hayden in Wildwood, MO

Posted by Ann Hayden, SelectAnn.com (Berkshire Hathaway HomeServices Select Properties-St. Louis Missouri) almost 5 years ago

Participate