Trumbull CT Housing and Real Estate Market Report Week of 1/7/15

A market to watch! VERY CLOSE TO A BUYER/SELLER ACTION ALERT-. As of this morning, there are just 123 homes that are actively on the market. The average market time is 124 days,  and their *cumulative market time is 177 days. These available properties are listed at an average price of $463,334. The median list price in Trumbull is currently $414,900.  The highest priced home in town is listed at $1,100,000 and the lowest priced home is available at $165,000.

This week, we saw 10 new listings come on the market, and one  home come back on the market after being under deposit. There were six properties that had a price change. There were four properties that went under the initial deposit stage, which we call CTS, and three 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 $221,633.

TOWNWIDE DEPOSITS:  There are 22 properties townwide in the initial stage of deposit (which we call CTS) and an additional 25 properties that are scheduled to close, and their average price is $344,792.

CLOSINGS:  There were three properties that were reported as sold in this past week, The average list price was $508,267 and their average time on the market was 103 days. There were 44 status changes in the last week.

TRUMBULL CT CONDOS: The median price of the 13 condominiums that are available in Trumbull is $380,000. These homes have been listed an average of 107 days,  with an average cumulative market time of 155  days, and have an average price of $509,646. The highest priced condo in Trumbull is listed at $839,900. The lowest priced home is $244,900.

There was one new listing reported, no homes came back on the market,  and no property had a price change. No homes went into CTS status  and no homes went into pending status. 

TOWNWIDE DEPOSITS: There are two  properties currently under CTS status, and no properties in pending status.

CLOSINGS: Three properties  were reported as closed in the  last week, and were listed on average at $288,556.  There were five status changes reported.

RENTALS: If you are looking for a rent in town, there are 14 homes or apartments available, and they are listed at an  average price of $2,461 per month. These homes have been on the market approximately 58 days. The median price for a rental is $2,300 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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Trumbull CT- Weekly Real Estate Market Statistics Report - October 18, 2011

TRUMBULL CT HOMES:  Trumbull remains a good, steady market. Much different than this time last year, and even much better than it was in the first and second quarters of 2011. Trumbull's market  is still going strong.  

As of this morning, there are 232 homes actively on the market for an average of 88 days and they are listed at an average price of $434,640. 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 months, and is up just slightly from last week. The goal for a neutral market is six months.

This week, we saw eleven new listings come on the market,and no homes  came back on the market after being under deposit.  There were 14 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 $515,725 and their average market time was 177 days.

CLOSINGS:  There were five properties that were reported as sold in this past week. The average list price was $307,840 and their average time on the market was 97 days. There were 46 status changes in the last week.

TRUMBULL CT CONDOS: The median price of a condo in Trumbull is $331,400.  The 33 condominiums that are available have been  listed an average of 127 days, and have an average price of $371,992. 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 months, and is down slightly over last week. We should look to the 6-7 month range here as a neutral market

No new listings  came on the market this week, and one home came back on the market after being under deposit. Two condominiums had a price change. In the last week. Two  condominiums went into CTS status, and one property went into pending status. CLOSINGS: There were no closings  reported last week.
There were seven status changes.

RENTALS: If you are looking for a rent in town, there are 19 homes or apartments available, and they are listed at average price of $2,247 per month. These homes have been on the market approximately 48 days. The median price for a rental is $2,000 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

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Trumbull CT Real Estate Market Conditions, Forecast and Advice -10/2011

Trumbull, Connecticut  is an inland community town of 23 square miles and approximately 35,500 residents living in  12,300 households. Incorporated in 1797, just over 17 percent of the current housing stock was built prior to 1950. Approximately 89 percent of the homes are owner occupied.

I am pleased to present to you my real estate market predictions and buying and selling advice for Trumbull, CT. My experience spans over 26 years, and I have seen hot markets come and go, and bad markets come and go. I always find it funny how the media predicts that the real estate market is going up or down in the state, but you know as well as I do, that  each city has its own type of market, and within the city, there are areas that sell faster than others, and homes on particular streets that sell  slower than others. You really cannot generalize the market in a rational way. Deciphering the real estate market, is, and has to be, local and historical.

With that being said, I offer my opinions on the market for the coming months. Everyone's particular situation is different, and  if you need to buy or sell in Trumbull at a particular time, then you should do it. You should also contact me to assist you! (OK, Shameless plug) You know people have been asking me for years, "what do you think is going to happen in the real estate market?" and I say, "Well, if I knew that, I probably wouldn't be selling real estate, because I would have some type of amazing talent that NO ONE has ever possessed" That being said, I AM very good at numbers, statistics, and forecasting, so after doing extensive research, calculations, and taking into account the current economic climate, I present to you the following:
 
State of the Market: I was pretty concerned about Trumbull's real estate market in the first quarter of this year. Things finally started to move in the beginning of the second quarter, and have continued at a nice pace throughout the third quarter, and that cannot be said for neighboring towns.  Trumbull's market is better now than it has been for a long time. You can expect a seasonal lull in activity until the end of the year, with a  small spike in December sales.  No earth shattering changes, either in positive or negative way.

What's Ahead in General: Current home sales averages at around 20 per month and condos average about 3 sales  per month The last three months have been very good for sales in Trumbull, and that does include condos.  What started out very slow this year has definitely picked up.  Although we have about a years worth of inventory on the market right now, expect it to cntinue at this pace, with a slight lull towards the end of the year and January.  Pricing is nearly the same as it was one year ago. Do not expect any big price increases any time soon.

ADVICE FOR SELLERS: Is there a better time to sell your home in Trumbull ? Yes, LIST IT NOW!!!  Don't wait. Buyers are out already, no reason to delay, and Trumbull's market is pretty good right now.  There is less inventory than there was last quarter, which means less competition, and higher prices (hopefully) If you are thinking about selling, remember the interest rates are good, and more buyers qualify right now.
 
If you want to sell your condo, go ahead and put it on the market NOW!! You are not gaining anything by waiting until 2012. Prices aren't going to move that much, if at all, and  if the interest rates go up even 1/2 of 1 percent, a number of buyers will be knocked out of the running to purchase in your price range.

ADVICE FOR BUYERS: If you are looking to buy in Trumbull CT, I would start now- even though inventory is a little on the low side, you can still find your dream home, so don;t delay- the rates are VERY good, and be willing to be patient if you don;t see what you want right now. The hosue will come. And, I am sure some sellers would not want to hear this, but NEGOTIATE! You still have buying power, and since that doesn't come along too often, and I would take advantage of it. If you are looking to buy a condo, NEGOTIATE! Now is the time!

BEST BETS FOR BUYERS AND SELLERS: Three and four bedroom homes, and/or homes priced within the $300,000-$400,000 and $500,000-$600,000  range. Two bedroom condos, and/or condos priced between $300,000-$350,000.

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Trumbull CT - Weekly Real Estate Market Statistics Report - August 23, 2011

TRUMBULL CT HOMES: As of this morning, there are 232 homes actively on the market for  89 days and are listed at an average of $441,602. The median list price in Trumbull remains at  $374,900. The highest priced home in town is listed at $1,195,000 and the lowest priced home is available at $165,000.

This week, we saw four new listings come on the market, and one home that came back on the market after being under deposit.  There were ten properties that had a price change. There were four properties that went under the initial deposit stage, which we call CTS, and six properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close.

CLOSINGS:  There were five properties that sold this past week. Their average list price was $420,920 and these homes were on the market an average of  114 days. There were 42 status changes in the last week.

TRUMBULL CT CONDOS: The median price of a condo in Trumbull is $339,900.  The 32 condominiums that are available have been  listed an average of 86 days, and have an average price of $374,219.  The highest priced condo in Trumbull is listed at $569,900. Th elowest priced home is $131,937.

One new listing  came on the market this week, and no homes came back on the market after being under deposit. No condominiums had a price change. In the last week, no condominiums went into CTS status, and one property went into pending status. CLOSINGS: There were three properties that closed in the last week and were listed at an average price of $316,267. They were  on the market for  315 days before they sold. .There were eight 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 $2,462 per month. These homes have been on the market approximately 26 days. The median price for a rental is $2,200 per month.

Real Estate Market Report for Trumbull CT - week of 6/21/2011

Trumbull's real estate market has FINALLY picked up! As you may know, we do detailed real estate market statistics on five towns, and unfortunately Trumbull has  consistently lagged behind  its neighbors this year. I am very pleased to report that the market is gaining momentum, and that's fabulous!

There is a word of caution, though. Please remember that as we gain momentum here, we are headed into the third quarter which traditionally lags behind the first two. Maybe we won't see a drop in activity. Let's hope for the best. You CAN be assured that I will report to you whatever the market is doing at the time, and offer my advice  as to the best time for you to buy or sell a home in this great Town! I do know the best agent to help you - that's me!

TRUMBULL CT HOMES:  As of this morning, there are 237 homes actively on the market for  75 days and are listed at an average of $476,040. The median list price in Trumbull is $394,450. The highest priced home in town is listed at $1,249,900 and the lowest priced home is available at $163,000. Nearly 46 percent of all the properties available in town are four bedroom homes, and their average list price is $525,592. They have been on the market an average of 74 days.

This week, we saw 11 new listings come on the market, and one home that came back on the market after being under deposit.  There were 16 properties that had a price change. There were 14 properties that have gone under the initial deposit stage, which we call CTS, and two  properties went into Pending status, which means that the conditions have been satisfied, and the property is scheduled to close.

CLOSINGS: There were eight properties that sold this past week. The average list price was $491,688 and these homes were on the market an average of 116 days. There were 61 status changes in the last week.

TRUMBULL CT CONDOS: The median price of a condo in Trumbull is $327,400.  The 24 condominiums that are available have been  listed an average of 164 days, and have an average price of $369,333.  The highest priced condo in Trumbull is listed at $569,900 and the lowest priced condo for sale is listed at $209,900.There are 14 two-bedroom condos available, and nine three-bedroom condos available.

One new listing  came on the market this week. Three condominiums had a price change. In the last week, no condominiums went into CTS status, and three properties went into pending status. CLOSINGS: There were no properties that closed in the last week. There were eight status changes for the week. .

RENTALS: If you are looking for a rent in town, there are 10 homes or apartments available, and they are listed at average price of $2,534 per month. These homes have been on the market approximately 45 days. The median price for a rental is $2,147 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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