Connecticut Housing Prices

The Office of Federal Housing Enterprise Oversight released 2nd Quarter statistics on average housing prices this month. The full report can be read here: "The Housing Bubble and its Implications for the Economy"

The House Price Index for Connecticut provides percentage price changes in the market, by quarter, since 1975.

These reports indicate a definite "cooling" in the market.
I think the problem locally is more about the time of year, amount of inventory, and number of buyers currently looking. Interest rates are still at around 6.5% There is not enough demand for the current supply of housing. Its simple Economics 101.

Here is a question I've been asked alot lately:
I am ready to sell my house...should I wait until the spring market or put it on now?

This is not a simple question to answer because there are many different variables involved. This question needs to be answered on a case by case basis. Some questions that need to be answered are:

What is your timeframe and motivation?
Have you found suitable housing or waiting to purchase?
Have you talked with a mortgage professional about your purchase and what you can afford?
What is the condition of your house and how does it compare to others on the market?

The Spring Market always produces the most buyers and the best chance to receive the highest price for your house...but what if interest rates increase from now until then?

I invite you to contact me for a free consultation to discuss selling your home in today's market.

Middlebury Real Estate Market Update 9/25/06

There are currently 135 properties on the market in Middlebury as of today, 25 of which are under deposit. Motivated sellers continue to reduce prices in hopes of getting an offer, while owners who don't have to sell are reluctant to change.

The window of opportunity to find a buyer for your property will be closing soon. By November a majority of the buyers out there abandon their search until the early spring. Most people want to be in their new home by the holidays.

Realizing this, some of my seller clients will take their houses off the market in November and restart the process in March. If you do keep your house on the market in the winter months you will get far less showings, but the people who come to look are usually serious. Not many people browse homes in 20 degree weather and snow on the ground. So on a positive note, if you do keep your house on the market, you will attract less... but more serious buyers.

Homes for Sale in Middlebury

NEW LISTING

404 Tucker Hill Rd, Middlebury listed @ $2,800,000

Homes for Sale in Middlebury

NEW LISTINGS -these properties were recently put on the market:

102 Tower Rd, Middlebury which is a 3BR Colonial listed @ $429,900

541 Benson Rd, Middlebury which is a 2BR Cape listed @ 299,900

Middlebury Real Estate Market Update 9/18/06

There are currently 118 properties on the market in Middlebury as of today. Out of 118, 8 are under contract.





Properties NEW to the market - week ending 9/17/06

Click on address for more info:
28 Independence Drive, Middlebury $609,900

56 Clearview Knoll, Middlebury $335,000

Properties SOLD - week of 9/10 -9/17/06

311 Whittemore Rd, Middlebury $312,000

17 Townsend Rd, Middlebury $212,000