Local Real Estate Market Information©
(Through March, 2010 as of April12, 2010)
National reporting
National Consumer confidence as reported by The Conference Board was up from 46.4 to 52.5 in March, 2010. 1985 = 100.
Case Shiller reports of selling price of pre owned homes was basically flat in January, 20010 for top 10, top 20, Boston and NY Markets (most recent month reported). And, they reported that the rate of decline is improving with the reduction in selling prices nationally as close to 0% as it has been in three years.
National markets (Top 10 and Top 20) and Local Markets (Boston and New York) declined less than 1%.
TRENDS OF UNITS SOLD, MEDIAN SELLING PRICE AND AVERAGE DAYS ON MARKET
For Local Market including Westport, Wilton, Weston, Norwalk, Fairfield, Easton, Ridgefield and Redding the market is performing better than what Case Shiller reported.
The number of properties sold peaked in 2005, hit bottom in 2009 and has started to improve in 2010.
The median selling price of properties sold peaked in 2006, hit bottom in 2009 and is improving in 2010.
The average days on market was best in 2005, worst in 2009 and is improving in 2010.
See Trends for towns in lower Fairfield County and Units sold and Median price increase by town from 1999 through January, 2010 (as of February 12, 2010) are at the following link.
http://www.swreilly.com/marketinformation/localmarketinformation.htm
MONTHS OF INVENTORY FOR SALE BY TOWN IN FAIRFIELD COUNTY
Inventory is increasing in most towns, probably due to the pent up supply of homes waiting to be sold. See trend of Properties for sale in Fairfield County and months of Inventory available for sale by town at the following link.
http://www.swreilly.com/marketinformation/localmarketinformation.htm
Disclaimer: This information should be accurate but is not guaranteed since it relies on the source.
Stephen Reilly
Higgins Group
Best Practice Real Estate
278 Post Road East
Westport, CT 06880
203-246-7372
swreilly@swreilly.com
www.swreilly.com
