CT-Shore-Homes Newsletter
March 2010
We are off to a reassuring start in 2010, for the first two months activity is fairly high (web hits on properties, open houses, and buyer visits), and the statistics below indicate that we are seeing stability and improvement in the most important indicators...houses selling and going under contract!
As we have spoken with potential home sellers, we find that the conversations have generally titled away from "what can I get for my house" to "what is the price that will get my house sold." We have had a significant increase in the investment owners are willing to make before they put their house on the market, realizing buyers are looking to move in to a house with minimal if no work to be done, and that is what will make a house stand out in the market.
As we tour houses through our broker open house networking events and review inventory, we are finding that many more homes coming on to the market are priced reasonably and are being "dressed for success" than we have in the past.
We hope this newsletter is of interest, and if you are thinking of buying or selling give us a call. If you know someone who is, please forward this newsletter on to them and suggest they call us in for a discussion.
Homes Under Contract
Jan/Feb 2010 
We are finally seeing an increase in the number of homes going under contract year over year, in some towns like Branford and Madison, that increase is fairly dramatic. When comparing median list price of homes going under contract, that is also up for Madison and Guiilford. Median List Price or Sales price is somewhat independent of indications of apprecitation/depreciation of home values, it is more an indication of what house segments are actually selling. An increase in median price indicates that there is a higher concentration of higher priced home selling.
|
Town |
Units 2009 |
Units 2010 |
Median L/P 2010 |
ADOM 2010 |
|
Branford |
12 |
20 |
$317,450 |
92 |
|
Clinton |
15 |
17 |
$249,900 |
110 |
|
Killingworth |
4 |
4 |
$402,500 |
112 |
|
Guilford |
36 |
38 |
$440,750 |
141 |
|
Madison |
19 |
29 |
$479,900 |
128 |
| Westbrook |
5 |
10 |
$346,950 |
92 |
MLS Data Residential Single Family Homes
Closed Home Sales
Jan/Feb 2010
Madison and Guilford both saw significant closing (Sales) activity increases over these two months a year ago. In general median sales price was similar with notable drops in Killingworth and Madison (see note above about median). In general these figures indicate a stabiliization and slight increase in volume of transactions.
|
Town |
Units 2009 |
Median SP 2009 |
Units 2010 |
Median SP 2010 |
ADOM 2010 |
|
Branford |
13 |
$410,000 |
10 |
$336,350 |
126 |
|
Clinton |
11 |
$288,000 |
8 |
$290,000 |
79 |
|
Killingworth |
5 |
$410,000 |
5 |
$260,000 |
241 |
|
Guilford |
21 |
$399,900 |
23 |
$417,875 |
154 |
|
Madison |
19 |
$476,500 |
29 |
$394,000 |
132 |
|
Westbrook |
3 |
$315,000 |
6 |
$404,450 |
60 |
MLS Data Residential Single Family Homes
Active Home Inventory
March 1 2010
Inventories are generally lower than a year ago, however relative to sales volume it still represents a high inventory.
| Town |
Units |
| Branford |
118 |
| Clinton |
121 |
| Killingworth |
67 |
| Guilford |
186 |
| Madison |
207 |
| Westbrook |
74 |
MLS Data Residential Single Family Homes
|
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Featured Article |
Lisa Leonardi
Real estate staging is the act of preparing and showcasing residential or commercial property for sale. Staging optimizes the home's finest attributes, as well as addresses problems that may be possible deterrents to buyers. A professional stager provides recommendations on how to update and refine décor, maximize space, de-clutter, and neutralize. After staging, buyers are able to see the home's true potential.
According to the Real Estate Staging Association, staged homes spend 78% less time on the market. A 2009 RESA study reported that 284 vacant and occupied homes that were staged before they went on the market sold in 40.5 days on average after staging.
How does staging your home make a difference?
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Professionally staged homes present and show better than competing houses for sale.
-
Staged properties will sell faster when compared with houses that have not been staged, even in a slow real estate market.
-
Buyers view professionally staged listings as "well-maintained".
-
Buyers' agents recognize that professionally staged listings are "move-in" ready and are inclined to show staged properties.
-
Photos of professionally staged listings look better in print and web media.
-
Professionally staged listings "STAND-OUT" in prospective buyers' minds.
Professional home stager, Lisa Leonardi of The Room Doctor can assist you with all your staging needs. Contact Lisa at 203.464.5318 or visit her website at www.TheRoomDoctor.com.
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