Trumbull CT- Weekly Real Estate Market Statistics Report - October 18, 2011

TRUMBULL CT HOMES:  Trumbull remains a good, steady market. Much different than this time last year, and even much better than it was in the first and second quarters of 2011. Trumbull's market  is still going strong.  

As of this morning, there are 232 homes actively on the market for an average of 88 days and they are listed at an average price of $434,640. The median list price in Trumbull is holding at $364,900. The highest priced home in town is listed at $1,195,000 and the lowest priced home is available at $149,900.

SINGLE FAMILY HOME INVENTORY based upon the current absorption rate: 10.71 months, and is up just slightly from last week. The goal for a neutral market is six months.

This week, we saw eleven new listings come on the market,and no homes  came back on the market after being under deposit.  There were 14 properties that had a price change. There were five properties that went under the initial deposit stage, which we call CTS, and four 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 $515,725 and their average market time was 177 days.

CLOSINGS:  There were five properties that were reported as sold in this past week. The average list price was $307,840 and their average time on the market was 97 days. There were 46 status changes in the last week.

TRUMBULL CT CONDOS: The median price of a condo in Trumbull is $331,400.  The 33 condominiums that are available have been  listed an average of 127 days, and have an average price of $371,992. The highest priced condo in Trumbull is listed at $569,900. The lowest priced home is $131,937.

CONDOMINIUM  INVENTORY based upon the current absorption rate: 9 months, and is down slightly over last week. We should look to the 6-7 month range here as a neutral market

No new listings  came on the market this week, and one home came back on the market after being under deposit. Two condominiums had a price change. In the last week. Two  condominiums went into CTS status, and one property went into pending status. CLOSINGS: There were no closings  reported last week.
There were seven status changes.

RENTALS: If you are looking for a rent in town, there are 19 homes or apartments available, and they are listed at average price of $2,247 per month. These homes have been on the market approximately 48 days. The median price for a rental is $2,000 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

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Trumbull CT - Weekly Real Estate Market Statistics Report - October 4, 2011

TRUMBULL CT HOMES: Now is the time to buy or sell in Trumbull. It's about time this town has a decent market. As a matter of fact, for the five towns that I report real estate trends for, and that includes Easton, Fairfield, Norwalk and Westport besides Trumbull, in my opinion, Trumbull is the number one best bet for the remainder of the year due to its recent performance.

As of this morning, the inventory is down again to 220 homes actively on the market for an average of 91 days and they are listed at an average price of $432,764. The median list price in Trumbull is now at $364,388. The highest priced home in town is listed at $1,195,000 and the lowest priced home is available at $149,900.

SINGLE FAMILY HOME INVENTORY based upon the current absorption rate: 9.30 months, and is up just slightly from last week. The goal for a neutral market is six months.

This week, we saw twelve new listings come on the market, including one home that came back on the market after being under deposit.  There were 13 properties that had a price change. There were five properties that went under the initial deposit stage, which we call CTS, and ten 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 $479,310 and their average market time was 116 days.

There are currently 32 properties townwide in pending status, and their average price is $388,242.

CLOSINGS:  There were five properties that were reported as sold in this past week. The list price was $482,760 and itheir average time on the market was 85 days. There were 62 status changes in the last week.

TRUMBULL CT CONDOS: The median price of a condo in Trumbull is up slightly to $331,400.  The 36 condominiums that are available have been  listed an average of 109 days, and have an average price of $374,070, which is also up slightly.  The highest priced condo in Trumbull is listed at $569,900. The lowest priced home is $131,937.

CONDOMINIUM  INVENTORY based upon the current absorption rate: 10.80 months, and is up slightly over last week. We should look to the 6-7 month range here as a neutral market

No new listings  came on the market this week, and no homes came back on the market after being under deposit. Two condominiums had a price change. In the last week, no condominiums went into CTS status, and no properties went into pending status. CLOSINGS: There were no closings  reported last week. There were just status changes for the week. .There were eight status changes.

There are two condominiums townwide that are currently in Pending status. Their average list price is $294,495.

RENTALS: If you are looking for a rent in town, there are 18 homes or apartments available, and they are listed at average price of $2,427 per month. These homes have been on the market approximately 47 days. The median price for a rental is $2,225 per month.

Click here to see FOURTH QUARTER real estate market advice for Trumbull.

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

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Trumbull CT Real Estate Market Conditions, Forecast and Advice -10/2011

Trumbull, Connecticut  is an inland community town of 23 square miles and approximately 35,500 residents living in  12,300 households. Incorporated in 1797, just over 17 percent of the current housing stock was built prior to 1950. Approximately 89 percent of the homes are owner occupied.

I am pleased to present to you my real estate market predictions and buying and selling advice for Trumbull, CT. My experience spans over 26 years, and I have seen hot markets come and go, and bad markets come and go. I always find it funny how the media predicts that the real estate market is going up or down in the state, but you know as well as I do, that  each city has its own type of market, and within the city, there are areas that sell faster than others, and homes on particular streets that sell  slower than others. You really cannot generalize the market in a rational way. Deciphering the real estate market, is, and has to be, local and historical.

With that being said, I offer my opinions on the market for the coming months. Everyone's particular situation is different, and  if you need to buy or sell in Trumbull at a particular time, then you should do it. You should also contact me to assist you! (OK, Shameless plug) You know people have been asking me for years, "what do you think is going to happen in the real estate market?" and I say, "Well, if I knew that, I probably wouldn't be selling real estate, because I would have some type of amazing talent that NO ONE has ever possessed" That being said, I AM very good at numbers, statistics, and forecasting, so after doing extensive research, calculations, and taking into account the current economic climate, I present to you the following:
 
State of the Market: I was pretty concerned about Trumbull's real estate market in the first quarter of this year. Things finally started to move in the beginning of the second quarter, and have continued at a nice pace throughout the third quarter, and that cannot be said for neighboring towns.  Trumbull's market is better now than it has been for a long time. You can expect a seasonal lull in activity until the end of the year, with a  small spike in December sales.  No earth shattering changes, either in positive or negative way.

What's Ahead in General: Current home sales averages at around 20 per month and condos average about 3 sales  per month The last three months have been very good for sales in Trumbull, and that does include condos.  What started out very slow this year has definitely picked up.  Although we have about a years worth of inventory on the market right now, expect it to cntinue at this pace, with a slight lull towards the end of the year and January.  Pricing is nearly the same as it was one year ago. Do not expect any big price increases any time soon.

ADVICE FOR SELLERS: Is there a better time to sell your home in Trumbull ? Yes, LIST IT NOW!!!  Don't wait. Buyers are out already, no reason to delay, and Trumbull's market is pretty good right now.  There is less inventory than there was last quarter, which means less competition, and higher prices (hopefully) If you are thinking about selling, remember the interest rates are good, and more buyers qualify right now.
 
If you want to sell your condo, go ahead and put it on the market NOW!! You are not gaining anything by waiting until 2012. Prices aren't going to move that much, if at all, and  if the interest rates go up even 1/2 of 1 percent, a number of buyers will be knocked out of the running to purchase in your price range.

ADVICE FOR BUYERS: If you are looking to buy in Trumbull CT, I would start now- even though inventory is a little on the low side, you can still find your dream home, so don;t delay- the rates are VERY good, and be willing to be patient if you don;t see what you want right now. The hosue will come. And, I am sure some sellers would not want to hear this, but NEGOTIATE! You still have buying power, and since that doesn't come along too often, and I would take advantage of it. If you are looking to buy a condo, NEGOTIATE! Now is the time!

BEST BETS FOR BUYERS AND SELLERS: Three and four bedroom homes, and/or homes priced within the $300,000-$400,000 and $500,000-$600,000  range. Two bedroom condos, and/or condos priced between $300,000-$350,000.

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Trumbull CT - Weekly Real Estate Market Report - September 6, 2011

TRUMBULL CT HOMES: As of this morning, there are 221 homes actively on the market for 96 days and are listed at an average of $440,635. The median list price in Trumbull remains at  $364,900. The highest priced home in town is listed at $1,195,000 and the lowest priced home is available at $149,000.

This week, we saw five new listings come on the market, and no homes that came back on the market after being under deposit.  There were eleven properties that had a price change. There were five properties that went under the initial deposit stage, which we call CTS, and six properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close.

CLOSINGS:  There were eight properties that sold this past week! Go, Trumbull! Their average list price was $346,575 and these homes were on the market an average of  84 days. There were 51 status changes in the last week.

TRUMBULL CT CONDOS: The median price of a condo in Trumbull is $329,900.  The 33 condominiums that are available have been  listed an average of 93 days, and have an average price of $372,267.  The highest priced condo in Trumbull is listed at $569,900. Th elowest priced home is $131,937.

One new listing  came on the market this week, and no homes came back on the market after being under deposit. One  condominium had a price change. In the last week, one condominium went into CTS status, and no properties went into pending status. CLOSINGS: There were no closings  reported last week. .There were two status changes for the week. .

RENTALS: If you are looking for a rent in town, there are 17homes or apartments available, and they are listed at average price of $2,444 per month. These homes have been on the market approximately 30 days. The median price for a rental is $2,175 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.

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Trumbull CT - Weekly Real Estate Market Statistics Report - August 30, 2011

TRUMBULL CT HOMES: As of this morning, there are 223 homes actively on the market for  94 days and are listed at an average of $441,406. The median list price in Trumbull remains at  $372,450. The highest priced home in town is listed at $1,195,000 and the lowest priced home is available at $165,000.

This week, we saw four new listings come on the market, and no homes that came back on the market after being under deposit.  There were two properties that had a price change. There were six properties that went under the initial deposit stage, which we call CTS, and eight properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close.

CLOSINGS:  There were four properties that sold this past week. Their average list price was $379,700 and these homes were on the market an average of  56 days. There were 36 status changes in the last week.

TRUMBULL CT CONDOS: The median price of a condo in Trumbull is $339,900.  The 32 condominiums that are available have been  listed an average of 90 days, and have an average price of $375,375.  The highest priced condo in Trumbull is listed at $569,900. Th elowest priced home is $131,957.

One new listing  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. CLOSINGS: There was one property that closed in the last week and was listed at $324,900. It was on the market for  431 days before it sold. .There were two status changes for the week. .

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 $2,423 per month. These homes have been on the market approximately 32 days. The median price for a rental is $2,175 per month.