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

Easton, Connecticut  is a small scenic town of 27 square miles and approximately 7,600 residents living in  2550 households. Incorporated in 1847, just over 25 percent of the current housing stock was built prior to 1950. Approximately 93 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 Easton, 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 town has its own type of market, and within the town, 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 Easton 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 don't see Easton's real estate market picking up in any considerable way any time soon. Easton's second quarter sales were almost dismal, but the third quarter picked up considerably, and the median price of the homes that sold rose by nearly $100,000. That's not to say that homes across the board rose in value. It just means that  the homes that sold were in a higher price range than they were in the previous quarters.

What's Ahead in General: Current sales over the last quarter average about 6 per month, but I expect that to drop in the final quarter to four or  five sales per month on average at best. Bottom Line: Price your home correctly and it will sell. There is a fourteen month housing supply in town, so make smart and informed decisions. By the way, waiting for the so called "Spring Market" and starting the selling process in February or March or April isn't going to make your home more salable-. There will be more competion than there already is.

ADVICE FOR SELLERS: Is there a better time to sell your home in Easton? Yes, actually, in my opinion- whenever you are ready. The market isn't changing anytime soon. You won'tlose money now or gain money later. If you want to sell your home, first of all, price it correctly right from the get go. No fooling around, don't put a "little play" in the price for negotiation.

ADVICE FOR BUYERS: Short and Simple. The time is Now, now, now, NOW! If you are looking to buy in Easton CT, I would get going on it right away! Immediately! I believe prices will remain level, and if a home goes up for sale between now and the end of the year, those sellers really need to sell. It's not the time for  homeowners  to"fish for the best price". Negotiate, too. You have the power!

BEST BETS FOR BUYERS AND SELLERS: Five bedroom homes, homes priced within the $500,000-$600,000 and $700,000-$800,000 range.

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