Fab Real Estate Blog: New Milford, CT January 2007 Market Report

New Milford, CT January 2007 Market Report

New Milford, Connecticut Real Estate Update
January 2007

Closed home sales in New Milford, Connecticut:

Single Family Homes:
In January of 2007, there were 22 single family home sales closed in New Milford, CT.
List Prices ranged from $300,000 - $1,775,000.
Closed Sales Prices ranged from $290,000 - $1,652,500.

The average closed real estate sales price for single family homes in New Milford for the month of January was $432,000.
On average, these homes sold for 96% of their list price.
Days on Market ranged from 22 - 305 days, with the average being 155 days of market time.

This compares to 22 single family homes closed in January, 2006, with an average closed sales price of $461,000.

Condos:
In January of 2007, there were 7 condominium sales closed in New Milford, CT.
List Prices ranged from $80,000 - $518,000.
Closed Sales Prices ranged from $80,000 - $668,000.  (The highest priced sold condo was a new unit.  The large difference between the list price and the closed price is due to upgrades added to the list price by the buyers)

The average closed real estate sales price for condos in New Milford for the month of January was $289,000.
On average, these homes sold for 98% of their list price (not including the new nit with the extensive upgrades).
Days on Market ranged from 90 - 315 days, with the average being 189 days of market time.

This compares to 9 condos closed in January, 2006, with an average closed sales price of $189,000.



Currently available homes for sale in New Milford, Connecticut:

Single Family Homes:
Currently, there are 234 single family homes for sale in New Milford, CT.
List Prices range from $195,000 for a one-bedroom antique colonial home to $3,200,000 for a 20 acre estate with an 8,000 square foot main home and four additional detached residences.

1 Bedroom Homes:  There are 3 available from $195,000 - $339,000
2 Bedroom Homes:  There are 18 available from $245,000 - $1,500,000 for a home on an island in the Housatonic River.
3 Bedroom Homes:  There are 92 available from $250,000 for an antique colonial to $1,590,000 for a spacious golf course home in a Candlewood Lake community.
4+ Bedroom Homes:  There are 121 available from $250,000 to $3,200,000. 

Condos:
Currently, there are 67 condos available for sale in New Milford, CT.
Studios:  There are 2 available for $70,000 - $121,500.
1 Bedrooms:  There are 17 available from $99,000 - $228,000
2 Bedrooms:  There are 44 available from $114,000 - $564,000
3 Bedrooms:  There are 4 available from $300,000 - $400,000


New Milford, Connecticut, is the southernmost town in Litchfield County and is known as The Gateway to Litchfield County.  The town borders the northeastern shores of Candlewood Lake.  Several lake communities surround its Candlewood Lake shores, and typically offer a private beach for residents, boat docks and other amenities.  New Milford enjoys a population of about 28,000 residents.

This Market Report prepared by:
Don Fabrizio-Garcia
REALTOR
Prudential Connecticut Realty
203.746.1199
Connecticut Real Estate and Homes for Sale

 

Data compiled from the Consolidated MLS and believed to be accurate.

Comment balloon 3 commentsDon Fabrizio-Garcia • February 03 2007 01:41PM

Comments

Do you have statistics for January 2006?  It would be interesting to see how 2007 compares to 2006.  In New London County so far this year I am pleased at the amount of activity thus far
Posted by Philip Turner, Mortgage Banker Since 1980 (MCCUE MORTGAGE COMPANY) over 11 years ago
Philip - Working backwards to show trends is my next step.  Personally, I'm not fond of monthly reports, as one very large sale or just an "off" month can skew the numbers.  So, I'm working on creating monthly reports that will then feed into quarterly reports.  the quarterly reports, I believe, will then be a better reporter of true trends.
Posted by Don Fabrizio-Garcia, Owner/Broker/Trainer - Fab Real Estate (Fab Real Estate) over 11 years ago
Philip - Your comment inspired me.  I'm adding the January, 2006 stats to these market condition posts.  Thank you.
Posted by Don Fabrizio-Garcia, Owner/Broker/Trainer - Fab Real Estate (Fab Real Estate) over 11 years ago

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