Trumbull CT - Weekly Real Estate Market Statistics Report - September 20, 2011

TRUMBULL CT HOMES: As of this morning, there are 223 homes actively on the market for 96 days and are listed at an average of $437,177. The median list price in Trumbull has remained fairly consistent now at $369,250. The highest priced home in town is listed at $1,195,000 and the lowest priced home is available at $149,000.

SINGLE FAMILY HOME INVENTORY based upon the current absorption rate: 8.20 months, and is down slightly from last week. The goal for a neutral market is six months.

This week, we saw eight new listings come on the market, including two homes that came back on the market after being under deposit.  There were nine properties that had a price change. There were seven 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 market time was 87 days.

CLOSINGS:  There were five properties that were reported as sold in this past week. The list price was $450,640 and itheir average time on the market was 71 days. There were 46 status changes in the last week.

TRUMBULL CT CONDOS: The median price of a condo in Trumbull is $329,900.  The 36 condominiums that are available have been  listed an average of 98 days, and have an average price of $369,514.  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: 9.82 months, and improvement over last weeks's reporting of 11.33 months. We should look to the 6-7 month range here as a neutral market

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, no condominiums went into CTS status, and no properties went into pending status. CLOSINGS: There were two closings  reported last week and their average list price was $334,000.They were on the market an average of 72 days. There were four status changes for the week. .

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 $2,227 per month. These homes have been on the market approximately 36 days. The median price for a rental is $2,100 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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