Are any homes in Bridgewater, CT selling? That is a very good question.
Noted for antique homes and large estates, Bridgewater has been a destination for people from New York City looking for that quintessential Connecticut country home. Of course there are many who make Bridgewater their full time home, and they fiercely love it. Who wouldn't? Bridgewater is absolutely beautiful. Rural, private, a great sense of community, and they claim the famous Bridgewater Country Fair as part of their heritage.
Like much of the rest of Litchfield County, sales have not really rebounded since the market crash in Bridgewater. There is good news, even if single family home sales are down and the time to sell a home is long. Homes are selling and the average price has been up a few months.
For those looking to sell, you could be in for a lesson in patience. Pricing according to what a buyer is willing to pay is key, and buyers are certainly driving the real estate bus in Bridgewater, CT. So as long as the buyer and their lender are in agreement on what the house is worth, the sale can happen.
Real Estate Market Report for Bridgewater, CT.
Currently there are 32 single family homes for sale in Bridgewater, CT. Of these 32 homes, 2 are under deposit. There are 3 homes that are pending sale and should close soon.
Because of the low volume of sales there is currently an absorption rate of 18 months. That means if no other homes come on the market it would take 18 months to sell what is currently listed. That is a long, long time. As I said before, patience is a mandatory virtue when selling your home in Bridgewater, CT.
Next let's look at the average list and sale price. Not bad, some of the larger homes have been selling.
The list to sales price ratio is a very telling statistic to me. I always look at the last listed price, which is shown as the list price and the original list price to sales price ratio. Homes are not selling for what their owners had originally listed them for. They are taking price reductions and selling for far less than originally expected, or hoped for. Price it right the first time and it will help those long days on market!
And the last figure that completes the REAL real estate story in Bridgewater, CT. The average days on market until closed. As I said more than once, patience is a virtue here.
At least the days on market have come down from October and November of last year, but it is still very, very high.
Because of the lack of closed sales to comp a house to it can be difficult to arrive at the right listing price in the beginning. Pay attention to what the market is telling you and adjust the course accordingly. Make sure your home is shown in the best light possible to potential buyers and that your internet marketing presence is strong and steady.
If you are looking to buy a home in Bridgewater, CT realize that the inventory may be a bit low right now. Some sellers got very discouraged and didn't re-list when their listings expired. Be prepared to negotiate for what you want and to be realistic with your negotiations. You are driving the bus, but you don't need to run over the sellers to get their attention!
And don't forget about the Bridgewater Country Fair. Check out the latest raffle information.
If you are thinking about selling your home, here is a bit of information about what I do. If you like what you see, give me a call at 203.460.1775.
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