It's tempting to make you all guess about market trends for 2010, but it would be hard for me to collect the responses in a timely way, so I guess I will just tell you. The latest Commercial Record shows that, for year over year sales from 2009 to 2010, New Haven County as a whole was down almost 8% in the number of sales. For the immediate towns, Guilford, Madison, North Haven, and Bethany had an increase from the prior year. Guilford and Madison were each up 9%, while the other two had smaller increases.
Surprisingly, the median prices were almost identical in 2009 and 2010, with 2010 coming in at 0.8% less. I expect that most of you would have guessed that prices fell about 10%, so the fact that they actually fell less than one percent is very good news. Of course, as I've often pointed out, this is not an apples-to-apples comparison, so it's probably true that only the best houses sold, meaning that most homes would have sold for less in 2010 than in the prior year. As I've discussed in earlier posts, East Rock and Spring Glen did go up in price, showing the "Yale" effect most strongly. North Branford, with 24% fewer sales, had an increase of 10%, and Milford, Wallingford, and Woodbridge had smaller increases. New Haven as a whole crept up 1%.
It is important to recognize, as the issue said in another article, that this is the sixth year in a row that sales have declined. Since prices have also been declining for most of that period, the total decline is larger than what is listed for last year. And, since most homeowners looking to sell haven't been in the market for some time, those yearly decreases can really add up.
However, the fact that we are not in freefall is very good news, and the spring is still ahead of us. Anything could happen, but we're hoping for recovery mode to kick in strongly!
Blog Archive
Popular Posts
-
You enjoy the weekend, have a great trip, and then you may be home Sunday morning, getting ready for school on schedule on Monday. If...
-
Another sign the real estate market is coming back, not least the economy, is new hotel development, this time in downtown Cincinnati. The B...
-
Students often have great difficulty in writing your own essay , especially if you don't have the time or very less time to do a lot ...
-
Each transaction has its own housing property real estate and personal Property in the South of France . It is also possible for the prope...
-
As a further downturn in senior mortgage Search recession is becoming increasingly popular. There is also some confusion, because the natu...
-
MY LIFE IN A BAG
-
Most of the people in this world dream that they have a big nice house with huge backyard so that their children can play over...