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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