Trumbull CT - Weekly Real Estate Market Statistics Report - October 11, 2011

TRUMBULL CT HOMES: Now is the time to buy or sell in Trumbull. It remains a good market in town, and is the best it's been all year. Don't be concerned about a lack of activity for the upcoming holiday season. Trumbull's market  is still strong.  

As of this morning, there are 224 homes actively on the market for an average of 91 days and they are listed at an average price of $435,647. The median list price in Trumbull is now 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: 9.78 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, including one home that came back on the market after being under deposit.  There were 12 properties that had a price change. There were eight properties that went under the initial deposit stage, which we call CTS, and seven 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 $336,914 and their average market time was 105 days.

CLOSINGS:  There were eight properties that were reported as sold in this past week. The average list price was $392,250 and itheir average time on the market was 85 days. There were 58 status changes in the last week.

TRUMBULL CT CONDOS: The median price of a condo in Trumbull is up again slightly to $334,900.  The 34 condominiums that are available have been  listed an average of 120 days, and have an average price of $372,027. 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: 9.78 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 no homes 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 no properties went into pending status. CLOSINGS: There were two closings  reported last week, and their average listing price was $294,495, and their average market time was 64 days. There were just ten status changes for the week. There were ten status changes.

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 $2,288 per month. These homes have been on the market approximately 55 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.