Life in Newtown, CT

Newtown, CT Real Estate Market Statistics - January 2010  Back on January 17, 2010, we reported some basic real estate market statistics for Newtown, CT. Marilyn Katz of Prudential Connecticut's Realty's Westport office asked "How do your numbers compare with the first half of the year?"  Well, that got us to thinking ...

We just did a comparison of the closed sales in Newtown, CT for both January 2009 and January 2010 - this is what we found:

Closed Sales January 2009

Closed Sales January 201

What do all these numbers mean?  Closed sales more than doubled in 2010.  Homes are selling quicker at a higher average price.  The sale price to list price ratio was surprising as the gap increased from 5% to 7%.  At the high point of the market, the sale price to list price ratio was 98%.  Bottom line: the real estate market in Newtown, CT was better in 2010 than in 2009.

We hope that this information is helpful to you.  If you have any questions about Newtown, CT Real Estate Market Statistics, please email us.

Bob & Richelle Ward, Realtors, ABR
Prudential Connecticut Realty
www.connecticuthomesforsale.com
(203) 470-9818

Newtown, CT Real Estate Market Statistics - as of 1/17/2010  Curious about what's going on with the real estate market in Newtown, CT.  Well, here are the latest overall market statistics:

• Units Sold in Past Six Months - 99
• Average Days on Market - 128
• Average List Price - $609,377
• Average Sale Price - $449,792
• Median List Price - $452,400
• Median Sale Price - $415,000

We hope that this information is helpful to you.  If you have any questions about Newtown, CT Real Estate Market Statistics, please email us.

Bob & Richelle Ward, Realtors, ABR
Prudential Connecticut Realty
www.connecticuthomesforsale.com
(203) 470-9818

Real Estate Statistics for Newtown, CT - as of 11/28/09.  Because the real estate market is constantly changing, this is a just a snap shot in time for real estate statistics in Newtown, CT as of 11/28/09.  All information is from the Greater Fairfield County Multiple Listing Service (MLS) for the town of Newtown as of today.  Here goes:

As of this moment, there are 251 actively listed single family homes for sale in Newtown whose prices range from $35,900 for a mobile home to $1,550,000 for deck house style home on 19 acres with a guest house and tennis court.  Houses that are not mobile homes start at $179,900.  There are thirteen (13) homes that are marked as being under deposit.  Twenty-six (26) homes are marked as pending sale - which means a contract of sale has been signed.  One Hundred and ninety-one homes have been sold in Newtown since January 1, 2009.

The homes that have SOLD so far this month are:

We hope that you have found these real estate statistics for Newtown, CT to be helpful in letting you know what is happening in our local market.  If you have any questions, please email us!

Bob & Richelle Ward, Realtors, ABR
Prudential Connecticut Realty
www.connecticuthomesforsale.com
Cell - (203) 470-9818

Real Estate Statistics for Newtown, CT - as of 9/25/09.  Because the real estate market is constantly changing, this is a just a snap shot in time for real estate statistics in Newtown, CT as of 9/25/09.  All information is from the Greater Fairfield County Multiple Listing Service (MLS) for the town of Newtown as of today.  Here goes:

As of this moment, there are 289 actively listed single family homes for sale in Newtown whose prices range from $38,900 for a mobile home to $1,599,000 for 7,200 square foot Colonial on 3.0 acres that was built in 2007.  Houses that are not mobile homes start at $169,900.  There are twenty-five (25) homes that are marked as being under deposit.  Eighteen homes are marked as pending sale - which means a contract of sale has been signed.  One Hundred and fifty homes have been sold in Newtown since January 1, 2009.

The homes that have SOLD so far this month are:

We hope that you have found these real estate statistics for Newtown, CT to be helpful in letting you know what is happening in our local market.  If you have any questions, please email us!

 www.16PoleBridge.com www.10MarlinRoad.com

Bob & Richelle Ward, Realtors, ABR
Prudential Connecticut Realty
www.connecticuthomesforsale.com
Cell - (203) 470-9818

Real Estate Statistics for Newtown, CT - as of 7/23/09.  We're sorry we've fallen behind in posting about this subject.  It's been four (4) months since we last posted about this subject and our goal is post every couple of months about the real estate market in Newtown.  We'll try to stay on top of it.

Thought we'd let you know that Prudential Connecticut Realty's second quarter 2009 report is out.  This report contains an overall view of real estate for the state with statistics broken out by county, town and single family or condo.

Because the real estate market is constantly changing, this is a just a snap shot in time for real estate statistics in Newtown, CT as of 7/23/09.  All information is from the Greater Fairfield County Multiple Listing Service (MLS) for the town of Newtown as of today.  Here goes:

As of this moment, there are 309 actively listed single family homes for sale in Newtown whose prices range from $55,00 for a mobile home to $1,999,000 for 5 bedroom, 5 full bathroom & 2 half bathroom Colonial on 2.13 acres.  Houses that are not mobile homes start at $169,900.  There are twenty-three (23) homes that are marked as being under deposit.  Twenty-eight homes are marked as pending sale - which means a contract of sale has been signed.  Ninety-seven homes have been sold in Newtown since January 1, 2009.

The homes that have SOLD so far this month are:

We hope that you have found these real estate statistics for Newtown, CT to be helpful in letting you know what is happening in our local market.  If you have any questions, please email us!

 www.46pondbrook.com www.14NorthRidge.com

Bob & Richelle Ward, Realtors, ABR
Prudential Connecticut Realty
www.connecticuthomesforsale.com
Cell - (203) 470-9818

What Price Ranges are Selling in Newtown, CT - as of 7/15/09.  People are under the impression that absolutely NOTHING is selling right now ANYWHERE.  This is not true.  Homes in the different price ranges sell at different rates.  Some are REALLY moving right now - some are not.  The tool we use to determine what price range is moving and what isn't moving is something called an "absorption rate".

What is an absorption rate?  This is a hypothetical estimate of the number of months it would take to sell the inventory of houses on the market.  An absorption rate can be by town, county, state or even a neighborhood.  Obviously, inventory is replenished, so it would not happen in the real world.  The absorption rate is based on sales and current deposit levels.  It is generally broken out by price range.

What is an absorption rate used for?  When looking at absorption rates, Realtors can see what price range is moving in the given market.  For example, there may be a 3 month supply of homes in the $450,000 to $499,999 price range and a 10 month supply of homes in the $500,000 to $549,999 range.  If you were going to list a home for sale, do you think it would sell quicker if it was listed at $495,900 or $509,900?  Given the aforementioned absorption rates, it would take 3 times longer to sell the home if priced over $500,000.

So, now for the technical stuff.  The table below illustrates the current absorption rates for the different price ranges in Newtown.  The Months of Inventory with the lowest numbers indicate the price ranges that are selling in Newtown, CT. 

What does all this mean?  If you are planning to list a home for sale with a list price of $565,000, you might want to consider a list price in the price range just below ($500,000 to $549,900) as you should have a better chance of getting your home sold quicker.  If you have a home listed for sale in Newtown for $750,000 or more, expect it take a long time to sell.

We hope that we have given you a clear picture of what price ranges are selling in Newtown, CT.  If you have any questions, please Email us! 

Bob & Richelle Ward, Realtors, ABR
Prudential Connecticut Realty
www.connecticuthomesforsale.com
Cell - (203) 470-9818

Every couple of months, we write about the real estate market in Newtown.   Because the real estate market is constantly changing, this is a just a snap shot in time.  All information is from the Greater Fairfield County Multiple Listing Service (MLS) for the town of Newtown as of today.  Here goes:

As of this moment, there are 285 actively listed single family homes for sale in Newtown whose prices range from $55,00 for a mobile home to $1,999,000 for 5 bedroom, 5 full bathroom & 2 half bathroom Colonial on 2.13 acres.  Houses that are not mobile homes start at $134,900.  There are seventeen homes that are marked as being under deposit.  Fifteen homes are marked as pending sale - which means a contract of sale has been signed.  Thirty-one homes have been sold in Newtown since January 1, 2009.

The homes that have SOLD so far this month are:

 www.46pondbrook.com www.14NorthRidge.com

Bob & Richelle Ward, Realtors, ABR
Prudential Connecticut Realty
www.connecticuthomesforsale.com
Cell - (203) 470-9818

Prudential Connecticut Realty's 4th Quarter 2008 Market Report is out and it is informative as always.  It is broken out into two sections: Single Family Homes and Condominiums.  Under each section is every town along with a year over year comparison of the Days on Market, Median Sales Price, # of homes sold and the percentage change for each. 

We thought it would be fun to look at the Greater Fairfield County Multiple Listing Service (MLS) for the town of Newtown as of today.  The MLS changes contunually so this is just a snapshot is time.  Here goes:

As of this moment, there are 220 actively listed homes for sale in Newtown whose prices range from $49,900 for a mobile home to $1,990,000 for 5 bedroom, 5.5 bathroom Colonial on 2.13 acres.  Houses that are not mobile homes start at $184,900.  There are ten homes that are marked as being under deposit.  Ten homes are marked as pending sale - which means a contract of sale has been signed.  Five homes have been sold in Newtown since January 1, 2009.

The homes that have sold so far this month are:

www.46pondbrook.com www.14NorthRidge.com

Bob & Richelle Ward, Realtors, ABR
Prudential Connecticut Realty
www.connecticuthomesforsale.com
Cell - (203) 470-9818

The real estate market is made up of many parts or pieces - like a puzzle.  To see the whole picture, you need to look at all the separate pieces.  One of the pieces is called an absorption rate.  Absorption rates have been around for a long time, but over the past few years was infrequently look at.  I thought I'd write a short entry on my blog to explain what this is and why it's important.

What is an absorption rate?  This is a hypothetical estimate of the number of months it would take to sell the inventory of houses on the market.  An absorption rate can be by town, county, state or even a neighborhood.  Obviously, inventory is replenished, so it would not happen in the real world.  The absorption rate is based on sales and current deposit levels.  It is generally broken out by price range.

What is an absorption rate used for?  When looking at absorption rates, Realtors can see what price range is moving in the given market.  For instance, there may be a 3 month supply of homes in the $450,000 to $499,999 price range and a 10 month supply of homes in the $500,000 to $549,999 range.  If you were going to list a home for sale, do you think it would sell quicker if it was listed at $495,900 or $509,900?  Given the aforementioned absorption rates, it would take 3 times longer to sell the home if priced over $500,000.

Absorption rates are a great tool for builders.  When planning a new subdivision or building a new home, the absorption rate will tell a builder what price he should build in.  If homes priced between $600,000 and $650,000 are selling with a 2 month inventory supply and homes priced $700,000 to $750,000 have an inventory supply of 8 months, what price range would suggest to the builder?

In conclusion, an absorption rate is a guideline used to assist in pricing homes for sale and to gage how the real estate market is doing.

Email us for absorption rates for Newtown, CT, Danbury, CT, Brookfield, CT and Bethel, CT.  These are updated every each month.

Like in many other towns across the US, real estate values in Newtown, CT have been declining over the past year.  Many residents in town know this, but don't know by how much.  The rate of decline has been roughly 1% per month.  So as of August, home values in Newtown had declined approximately 8% since January 2008.

When Realtors evaluate real estate market conditions, there are different factors that we take into consideration.  These factors include:  Median Sale Price, Median List Price, number of units sold, number of days on the market and the Sale Price to List Price Ratio.  I'll do my best to explain each of these items to you. 

Many people confuse the words "median" and "average".  These are different mathmatical computations and the results can vary greatly.  An average is determined by adding up a list of numbers and then dividing the sum by the number of items in the list (example:  10+20+60=90  90/3=30  30 is the average)  To determine the median value, you must find the number that is the middle number in the list of numbers (example: 10,20,60  20 is the median number). 

Here are some relevant Newtown real estate statistics:

The median sale price in Newtown, CT is down 8.57% from this same time last year.  The median list price is down 9.11% from this same time last year.

The number of units sold as of 6/30/08 is down 33.9% from 2007.  One-third fewer homes have been sold in 2008 than were sold in 2007.  There were 171 homes were sold in the first six months of 2007 and 113 homes were sold during the same period in 2008.

The number of days that a home is active on the market has increased from 139 days to 146 days.  This means that it is now taking 7 more days for sellers to get a signed contract for the sale of their home.  Doesn't sound like much, but when you're trying to sell your home, it is a big deal.  It is important to note that if a home has been listed for sale previously, those days do not rollover into the days on market when the home sells.

The Sale Price to List Price ratio is currently 95%.  If the current list price on a home is $100,000 then the seller should expect it to sell for $95,000.  When you break out homes into price ranges (ie, $300,000 to $350,000; $350,000 to $400,000) this ratio does fluxuate a little bit.

The figures used in this post come from The Connecticut Real Estate Market Report (7/22/08) and from Prudential Connecticut Realty's Real Estate Reporter (as of 8/31/08).  The sales price to list price ratio information is courtesy of the Greater Fairfield County MLS (as of 9/17/08).