Comparison Short Sales and Foreclosures in Newtown, CT The one thing that is constant in life is CHANGE and the Newtown, CT real estate market is always changing.
Today, we are looking at the number of short sales and foreclosures that have closed in Newtown so far this year (to 8/24) and in years previous. The number of sold short sales in Newtown has definitely declined since 2012.
All data in the graph above was pulled from the multiple listing service (MLS) and all solds for the past years was pulled from the beginning of each year to 8/24.
We see this change in our market as a good sign. Short sales and foreclosures have been one of the reasons that Connecticut real estate market has been slow to recover as compared with other areas of the country. Connecticut is a judicial state and the foreclosure process can take a longer to go through here than in other parts of the country. The increased number of sold foreclosure properties here in Newtown indicates that we may be finally shaking out the distressed properties from our market.
As an FYI, the total numbers of short sales and foreclosure properties that sold each year previously are as follows:
|# Short Sales for the Year||# of Foreclosures for the Year|
It will be interesting to see if the number of sold foreclosure properties continues to outnumber the short sales for the rest of 2015.
If you have any questions about foreclosures and short sales, please give us a call at 203 470-9818 or email us to firstname.lastname@example.org