Marlborough CT Market Update Wednesday, Sep 5 2012 

Marlborough CT Market Update

Marlborough, CT is one of those towns that is quaint, rural, has a beautiful lake and yet near highways and shopping. However, this is a town for a while has had limited turn over so inventory tends to be low but it does have its ups and downs in the real estate market. Here’s a snap shot of the year-to-date Marlborough CT Market Update. While not every statistic is above last year there are some very positive indicators that overall the market is improving.

Property Sales

August Property sales were 7, down -12.5% from 8 in August of 2011 and equal to 0.0% 7 sales last month. August 2012 sales were at a mid-level compared to August of 2011 and 2010. August YTD sales of 47 are running 95.8% ahead of last year’s year-to-date sales of 24. It is very positive that the YTD sales have increased so much from a year ago.

 Prices

The Median Sales Price in August was $289,000, up 12.2% from $257,500 in August of 2011 and down -1.7% from $294,000 last month. The Average Sales Price in August was $274,357, up 5.4% from $260,344 in August of 2011 and down -9.4% from $302,786 last month. August 2012 ASP was at a mid-range compared to August of 2011 and 2010.

Market Time

The average Days on market (DOM) show how many days the average Property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for August was 106, up 6.0% from 100 days last month and up 1.0% from 105 days in August of last year. The August 2012 DOM was at its highest level compared with August of 2011 and 2010. This isn’t always a great stat but Marlborough is rural community that does tend to take longer to sell.

Selling Price per Square Foot

The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the ‘mix’ of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The August 2012 Selling Price per Square Foot of $135 was up 0.7% from $134 last month and up 1.5% from $133 in August of last year.

Ready to buy or sell, Marlborough CT Market Update will help you understand the current market conditions. Then contact Your Central CT Realtor, schedule an appointment to discuss your real estate needs.

 Footnote: Based on information from Connecticut Multiple Listing Service, Inc. for the period 9/1/2009 through 8/31/2012. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data accuracy. Data maintained by the MLS’s may not reflect all real estate activity in the market.

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Market Trends for Marlborough CT Saturday, Jan 28 2012 

Marlborough is a small rural Central CT community with a population of approximately 6,300 residents and 200 small businesses. This scenic community is located less than 25 miles Southeast of Hartford and offers welcoming neighborhoods, a lake community with town beach and an overall scenic beauty. Considering a move? Check out the real estate Market Trends for Marlborough CT.

Market Profile & Trends Overview Month LM L3M PYM LY YTD PriorYTD PriorYear
Median List Price of all Current Listings $285,000 -4%   -12%        
Average List Price of all Current Listings $327,380 -2%   -25%        
December Median Sales Price $210,000 -49% -42% -40% -20% $266,000 0% 1%
December Average Sales Price $293,100 -29% -22% -10% 3% $334,078 17% 18%
Total Properties Currently for Sale (Inventory) 51 -15%   21%        
December Number of Properties Sold 5 25%   -38%   47 -20%  
December Average Days on Market (Solds) 94 6% 27% -2% 38% 83 24% 22%
Asking Price per Square Foot (based on New Listings) $123 -18% -12% -35% -27% $146 -15% -14%
December Sold Price per Square Foot $126 -5% -13% -3% -11% $142 -1% 0%
December Month’s Supply of Inventory 10.2 -32% -35% 94% 0% 19.9 95% 95%
December Sale Price vs List Price Ratio 97.0% 2.1% 1% -2% 1.9% 96.0% 0.6% 0.9%
* LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year / YTD = Year-to-date

Trends are for single family homes between $100,000 – 2,000,000

Property SalesDecember Property sales were 5, down -37.5% from 8 in December of 2010 and 25.0% higher than the 4 sales last month. December 2011 sales were at a mid-level compared to December of 2010 and 2009. December YTD sales of 47 are running -20.3% behind last year’s year-to-date sales of 59.
 
PricesThe Median Sales Price in December was $210,000, down -39.9% from $349,200 in December of 2010 and down -49.0% from $411,450 last month. The Average Sales Price in December was $293,100, down -10.2% from $326,213 in December of 2010 and down -29.1% from $413,475 last month. December 2011 ASP was at a mid-range compared to December of 2010 and 2009.
 
Inventory & MSIThe Total Inventory of Properties available for sale as of December was 51, down -15.0% from 60 last month and up 21.4% from 42 in December of last year. December 2011 Inventory was at highest level compared to December of 2010 and 2009.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The December 2011 MSI of 10.2 months was at a mid-range compared with December of 2010 and 2009.

 
Market TimeThe average Days On Market (DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for December was 94, up 5.6% from 89 days last month and down -2.1% from 96 days in December of last year. The December 2011 DOM was at its lowest level compared with December of 2010 and 2009.
 
Selling Price per Square FootThe Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the ‘mix’ of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The December 2011 Selling Price per Square Foot of $126 was down -5.3% from $133 last month and down -3.1% from $130 in December of last year.
 
Selling Price vs Original Listing PriceThe Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. The December 2011 Selling Price vs Original List Price of 97.0% was up from 95.0% last month and down from 99.3% in December of last year.
 
Inventory / New Listings / Sales‘This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in December 2011 was 12, up 20.0% from 10 last month and up 500.0% from 2 in December of last year.
 

Discover the beauty, peaceful settings and inviting community… Market Trends for Marlborough CT!

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