Trumbull CT Real Estate Market Weekly Report November 1, 2011

TRUMBULL CT HOMES: As of this morning, there are 229 homes actively on the market for an average of 93 days and they are listed at an average price of $437,301. 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 mths, and up just slightly from last week. The goal for a neutral market is six months.

This week, we saw six new listings come on the market. No homes came back on the market after being under deposit.  There were ten 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 $249,950 and their average market time was 73 days.

CLOSINGS:  There were five properties that were reported as sold in this past week, The average list price was  up again to $363,889 and their average time on the market was 67 days. There were 41 status changes in the last week.

TRUMBULL CT CONDOS: The median price of a condo in Trumbull is $334,950.  The 30 condominiums that are available have been  listed an average of 121 days, and have an average price of $368,964. The highest priced condo in Trumbull is listed at $564,900. The lowest priced home is $131,937.

CONDOMINIUM  INVENTORY based upon the current absorption rate: 13.29 months. 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 two closings  reported in the last week. The average price was $337,450 and they were on the market an average of 305 days. There were six status changes.

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 $2,167 per month. These homes have been on the market approximately 50 days. The median price for a rental is $1,900 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