2011 Year End Real Estate Market Update for Middlebury CT
For the year 2011 in Middlebury CT, there were 62 residential real estate sales for an average of 5 sales per month. This is referred to as the absorption rate. Market absorption trends show the rate that properties are selling compared with inventory which enables us to see if it is a sellers’ or buyers’ market. 6 months worth of inventory is considered a balanced market. Less than 6 months is a sellers’ market and anything over 6 months is a buyers’ market.
The average value for the homes sold in Middlebury CT for the year was $381,732 with an average days on market of 135. There are currently 64 homes actively listed for sale in Middlebury CT, which is equivalent to a 10 month inventory if the average sales per month is consistent.
The list price ratio to sales price ratio was 93%, which indicates sellers putting the homes on the market near to fair market value, or finally getting them sold at market value.
The highest value home sold in Middlebury CT in 2011 was a 9,619 sq ft, 6-bedroom colonial estate which sold for $1,950,000.
By comparison, for calendar year 2010, there were 45 residential real estate sales for an average of 4 sales per month, with an average sales price of $332,418 and average days on market of 117. For 2011, there were more homes sold at a higher price in almost the same number of days on market.
The highest value home sold in Middlebury CT in 2010 was a 2,692 sq ft, 4 bedroom contemporary home which sold for $450,000.
For sellers it is essential to have a sales price on your home consistent with the most recent activity. We offer free market evaluations to assist you in your sale.
If you would like information on homes for sale in Middlebury CT, please call me at 203-206-0754 or send me an email. I would be happy to assist you or to discuss homes on the market in Middlebury CT.
2011 Year End Real Estate Market Update for Middlebury CT
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Ed Silva RE/MAX Professionals, www.edwardsilva.com 203-206-0754
Good Evening Ed
Thanks for the post. Have a great day
Ed, it looks like the Middlebury CT real estate market is doing quite well - more sales and values increasing. Good report.
Ed, even though it is a buyers market the sold price to listing price ratio is in the high 90% range which is good, 2012 seems to be starting off in the right direction.
Ed, guess we see it a little different. With only 5 sales a month on the average if we were one of the 64 currently listed, it's time for a price reduction. Our market is the opposite, very few listing and each new one keeps raising their price and getting it.
Ed, happy to see the market is doing well in your area. Hi to Julie in Scottsdale.
Since I grew up in Conn. I enjoy seeing the homes and the different styles .
Irene Durocher Bristol Properties
Boca Raton,Florida on the Atlantic Ocean
Ed, I have driven through Middleburry many times and it is a beautiful town. Great job on the year end report.
Hi Patrick, thanks for stopping.
Juli, Middlebury CT is a very special place and the homes all have exceptional value with one of the best school systems in the state
David, sellers in Middlebury have an understanding of the market and will price their homes appropriately.
Hi Al & Peggy, the homes do not sell quickly and the reality is that Middlebury is a move-up community so many a buyer needs to sell their home in one of the tighter markets to be able to move on.
Hi Irene, thanks for the scenery
George, I lived in Middlebury for almost 20 years before I came across the river to Prospect
Ed You are an inspiration..I do love your market reports