Trumbull CT Real Estate Market Weekly Update January 3, 2012

TRUMBULL CT HOMES: As of this morning, there are only 162 homes that are  actively on the market. Their average market time is 117 days and they are listed at an average price of $434,407. The median list price in Trumbull is $354,950. The highest priced home in town is listed at $1,149,000 and the lowest priced home is available at $169,500.

This week, we saw two new listing come on the market. No homes came back on the market after being under deposit. There were six properties that had a price change. There were three properties that went under the initial deposit stage, which we call CTS, and five  properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close. Their average list price was $318,760 and their average market time was 144 days.

TOWNWIDE PENDINGS: There are 34 properties scheduled to close, and their average price is $398,185.

CLOSINGS:  There were six properties that were reported as sold in this past week, The average list price was $324,583 and their average time on the market was 113 days. There were 39 status changes in the last week.

TRUMBULL CT CONDOS: The median price of the 25 condominiums that are available in Trumbull is $307,450. These homes  have been  listed an average of 128 days, and have an average price of $377,765. The highest priced condo in Trumbull is listed at $649,900. The lowest priced home is $131,937.

Three new listings  came on the market this week, and no homes came back on the market after being under deposit. No condominiums had a price change. In the last week, no condominiums went into CTS status, and no properties went into pending status.

TOWNWIDE PENDINGS: There are no properties scheduled to close.

CLOSINGS: There was one closing reported in the last week, and the home was listed at $359,900. There was seven status changes.

RENTALS: If you are looking for a rent in town, there are 21 homes or apartments available, and they are listed at average price of $2,403 per month. These homes have been on the market approximately 67 days. The median price for a rental is $2,062 per month.

Seven Year Annual Trumbull Real Estate Market Recap

2012 Trumbull Real Estate Forecast, Advice and 2011 Recap

SOURCE: Market Data is compiled from the GFC-CMLS and represents activity through our local MLS system. Private sales are not included in these statistics.

If you have a question about buying or selling Real Estate in Trumbull, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :)   - Judy

2012 Trumbull CT Real Estate Forecast, Advice and 2011 Recap

The year ahead promises be a good one for Trumbull, as we have hit our stride in the last quarter and continue to be strong. Although unit sales were down about six percent last year, it was primarily due to a very slow start in the first few months of 2011.

There were 276 single family home sales in both 2010 and 2009 and I am expecting that this year will at least bring us back to 2008 sales levels of 284 units.

Historically, presidential elections have brought about increased real estate activity, and coupled with low interest rates and increasing consumer confidence, it should help this market considerably in the coming year. We may even see some price increases this year if things keep going the way they are right now.

We can reasonably anticipate some market instability though,  come spring and early summer when it is expected that we will begin to see Trumbull's shadow inventory come on the market, and competing with owners wishing to sell their homes. Close to 360 properties are on the horizon as upcoming bank owned properties that will be coming on the market at some point in 2012 and early 2013, and that number is more homes than sold in all of 2011.

The year ahead is not so easily predictable because of the amount of distressed properties that seem to already be in the pipeline. It can go one of two ways, and incidentally, bank-owned properties are not always good deals. In Trumbull's case, it may either bring more buyers to town on a perception of a discount, or it will impact the sales of pre-existing owner-occupied properties. It's too early to tell. I'm leaning on the thought that they will bring more buyers in town. Next question- Will the upcoming inventory hurt sales prices? I actually don't think so.

Average sales prices decreased just under 4.5 percent, with an average sale price in 2011 of $389,422. If it weren't for the latter part of the year, 2011 would have been dreadful. As it is, last year's unit sales are lower than they have ever been in the last decade. We're snapping out of it, though. No worries.   

At best, we may very well begin 2013 back at 2010 price levels or above, which would not be a bad thing. To put things in perspective, Trumbull properties lost over 20% of their value since 2005. We just need to catch up on those unit sales which have been hurting quite badly over the last few years, in comparison to the 400-500 sales that have occurred annually in years past. We are not getting close to that in 2012, but I do think we can at least hit the 300 mark.

There are some segments of the market that fared better than others this past year, and by that, I mean those segments lost less value than other parts of the market. Five bedroom homes were the best performing properties in town price-wise, as well as homes that are in the 3001-4000 square foot range.  They actually gained value by about 1.7 percent. Other than that, every conceivable segment of the market experienced a decrease in value from 2010 to 2011.

Smaller homes under 1500 square feet seem to have been the safest bet if you were selling this past year, but I would venture to say that Trumbull is probably one of the BEST places to buy a home right now. It's on its way up. You heard it here, first.

Best bets for selling for top dollar in the year ahead are five bedroom homes and any homes between 3000 and 4000 square feet.

Best bets for buyers are truly anywhere in town, and the sooner, the better.

Bottom Line: Expect prices and sales volume to increase this year. It seems that Trumbull has turned the "proverbial corner".

If you have a question about buying or selling Real Estate in Trumbull, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :)   - Judy

2011 Year End Estate Trumbull CT Market Stats are in!

2011's final real estate sales figures are here, and we have compiled the Market History for Trumbull Connecticut with seven years of annual statistics dating back to 2005. Quick recap by year includes number of sales, average sales price and sales to list price ratio.

Initial numbers show 2011's average sales price at $389,422 while 2010 average sales price was at $406,971 which is about a  four percent drop in value. That may be true overall, however some segments of the market took a bigger hit than that, while others gained ground.

It is VERY important to note that when you look at year over year figures, amount of sales, and average sales prices, that it does not necessarily mean that prices have fallen significantly.  Trumbull had a very slow start in sales this year, which hurt its overall performance. Considering that very slow start, it's almost a wonder that we finished off the year just sixteen sales shy of 2010's annual figures. That is impressive!

Although it may look initially that prices have fallen in some segments of the market, other markets within Trumbull appear to have gained some ground. There are certain adjustments that will need to be made, and pricing anomalies that have to be addressed before any percentage of gain or loss is calculated. Certain sales can skew statistics out of probable proportion, and have to be looked at and analyzed quite closely before a true overview and forecast can be given.  What I am saying is don't get too excited just yet.

Click to view Trumbull CT 7 year Real Estate  Recap and Reports

PRICE RANGE RECAP: statistics for single family homes with sales data sorted by incremental price ranges and this report includes market time, median, high and low sales prices, plus total dollar volume in sales.

BEDROOM COUNT RECAP: Sales statistics for single family homes and rentals sorted by bedroom count. This report includes number of sales, average sale prices, sale to list price ratio, and multi family home sales are included for your convenience.

Remember, these are raw statistics at this point, and need expert interpretation before you can start celebrating the market change, or remain conservative. We will be posting  our opinions on the Trumbull market within the next few weeks, so stay tuned.

If you have a question about buying or selling Real Estate in Trumbull, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :)   - Judy

Trumbull CT Real Estate Market Weekly Update December 27, 2011

TRUMBULL CT HOMES: As of this morning, there are only 175 homes that are  actively on the market. Their average market time is 117 days and they are listed at an average price of $434,790. The median list price in Trumbull is $357,200. The highest priced home in town is listed at $1,149,000 and the lowest priced home is available at $169,500.

This week, we saw one new listing come on the market. No homes came back on the market after being under deposit. There were two properties that had a price change. There were three properties that went under the initial deposit stage, which we call CTS, and twelve properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close. Their average list price was $399,517 and their average market time was 106 days.

TOWNWIDE PENDINGS: There are 35 properties scheduled to close, and their average price is $397,202.

CLOSINGS:  There were four properties that were reported as sold in this past week, The average list price was $464,150 and their average time on the market was 87 days. There were 28 status changes in the last week.

TRUMBULL CT CONDOS: The median price of the 24 condominiums that are available in Trumbull is $307,000. These homes  have been  listed an average of 145 days, and have an average price of $372,639. The highest priced condo in Trumbull is listed at $649,900. The lowest priced home is $131,937.

No new listings  came on the market this week, and no homes came back on the market after being under deposit. No condominiums had a price change. In the last week, one condominium  went into CTS status, and no properties went into pending status.

TOWNWIDE PENDINGS: There are no properties scheduled to close.

CLOSINGS: There were no closings reported in the last week. Ther was one status change.

RENTALS: If you are looking for a rent in town, there are 20 homes or apartments available, and they are listed at average price of $2,317 per month. These homes have been on the market approximately 69 days. The median price for a rental is $2,075 per month.

SOURCE: Market Data is compiled from the GFC-CMLS and represents activity through our local MLS system. Private sales are not included in these statistics.

If you have a question about buying or selling Real Estate in Trumbull, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :)   - Judy

Trumbull CT Real Estate Market Weekly Update December 20, 2011

TRUMBULL CT HOMES: WE haven't seen the Trumbull market this good in a few years! As of this morning, there is anout a ten percent dip in inventory from just last week,and there are only 180 homes that are  actively on the marke. Their average market time is 111 days and they are listed at an average price of $434,072. The median list price in Trumbull is $354,900. The highest priced home in town is listed at $1,149,000 and the lowest priced home is available at $169,500.

This week, we saw four new listings come on the market. One home came back on the market after being under deposit. There were three properties that had a price change. There were four properties that went under the initial deposit stage, which we call CTS, and eleven properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close. Their average list price was $410,951 and their average market time was 113 days.

TOWNWIDE PENDINGS: There are 35 properties scheduled to close, and their average price is $400,060.

CLOSINGS:  There were five properties that were reported as sold in this past week, The average list price was $297,180 and their average time on the market was 100 days. There were 36 status changes in the last week.

TRUMBULL CT CONDOS: The median price of the 24 condominiums that are available in Trumbull is $307,000. These homes  have been  listed an average of 139 days, and have an average price of $372,639. The highest priced condo in Trumbull is listed at $649,900. The lowest priced home is $131,937.

Two new listings  came on the market this week, and no homes came back on the market after being under deposit. No condominiums had a price change. In the last week, no condominiums  went into CTS status, and no properties went into pending status.

TOWNWIDE PENDINGS: There are no properties scheduled to close.

CLOSINGS: There were two closings reported in the last week, and the their average listing price was $299,450. There were six status changes.

RENTALS: If you are looking for a rent in town, there are 22 homes or apartments available, and they are listed at average price of $2,305 per month. These homes have been on the market approximately 65 days. The median price for a rental is $2,100 per month.

SOURCE: Market Data is compiled from the GFC-CMLS and represents activity through our local MLS system. Private sales are not included in these statistics.

If you have a question about buying or selling Real Estate in Trumbull, and are in need of representation, I invite you to contact me. I know the market like the back of my hand, know marketing inside and out, am a skilled negotiator- and I'd love to be on your side :)   - Judy