Trumbull CT Housing and Real Estate Market Report Week of 3/10/14

EXTREME BUYER/SELLER ACTION ALERT- Deposit ratios continue to be out of sight, and Trumbull's market is HOT!

Inventory is VERY low, and as of this morning, there are just 96 homes that are actively on the market. The average market time is 113 days,  and their *cumulative market time is 169 days.  These available properties are listed at an average price of $501,500. The median list price in Trumbull is currently  $479,900. The highest priced home in town is listed at $1,099,000 and the lowest priced home is available at $165,000.

This week, we saw 12 new listings come on the market, and two homes came back on the market after being under deposit. There were eight properties that had a price change. There were 14 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 $442,800.

TOWNWIDE DEPOSITS:  There are 40 properties townwide in the initial stage of deposit (which we call CTS) and an additional 33 properties that are scheduled to close, and their average price is $381,582.

CLOSINGS:  There were five properties that were reported as sold in this past week, The average list price was $420,540 and their average time on the market was 129 days. There were 51 status changes in the last week.

TRUMBULL CT CONDOS: The median price of the nine condominiums that are available in Trumbull is $390,000. These homes have been listed an average of 53 days,  with an average cumulative market time of 60 days, and have an average price of $351,511. The highest priced condo in Trumbull is listed at $525,000. The lowest priced home is $195,000.

There was minimal condominium activity this week- one new listing, no homes came back on the market,  and no property had a price change. One home went into CTS status  and one home went into pending status.   There were three status changes reported.

TOWNWIDE DEPOSITS: There are two properties currently under CTS status, and four properties scheduled to close.

CLOSINGS: There were no closings reported in the last week.

RENTALS: If you are looking for a rent in town, there are 11 homes or apartments available, and they are listed at an  average price of $2,259 per month. These homes have been on the market approximately 35 days. The median price for a rental is $2,400 per month.

*Cumulative market time indicates the TOTAL  market time when a home has been listed more than once in short succession.

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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Thinking of selling your home in Trumbull?

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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