Trumbull CT - Weekly Real Estate Market Statistics Report - September 27, 2011

TRUMBULL CT HOMES: As of this morning, the inventory is slightly up with 229 homes actively on the market for an average of 93 days and they are listed at an average of $438,156. The median list price in Trumbull hasdipped slightly to $364,450. 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: 8.39 months, and is up very 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 23 properties that had a price change. There were eight 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 market time was 133 days.

CLOSINGS:  There were seven properties that were reported as sold in this past week. The list price was $386,614 and itheir average time on the market was 70 days. There were 61 status changes in the last week.

TRUMBULL CT CONDOS: The median price of a condo in Trumbull remains at  $329,900.  The 38 condominiums that are available have been  listed an average of 100 days, and have an average price of $368,721.  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: 10.36 months, and is up slightly over last week. 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. No  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 no closings  reported last week. There were just 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 $2,355 per month. These homes have been on the market approximately 42 days. The median price for a rental is $2,200 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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