Southbury, CT

Active Listings

175

New Listings

3

Average List Price

$559,877

Median List Price

$465,037

Average Sq. Ft.

3069

Median Sq. Ft.

2662

List Price

Houses

%

< 200,000

3

1

200,001-300,000

26

15

300,001-400,000

34

19

400,001-500,000

41

23

500,001-600,000

21

12

600,001-700,000

18

10

700,001-800,000

12

7

>800,001

20

11

Address

L/Price

ADOM

327 OAK HILL DRIVE

349,900

6

105 STILES RD

389,500

1

228 VALLEY STREAM LANE

559,900

5

Closed Listings – 13

Average

Median

Days on Market

89

69

List Price

$385,628

$ 379,900

Sale Price

$ 368,192

$ 368,000

Sq. Ft.

2408

2475

LP/Sq. Ft.

$156.60

$156.22

SP/Sq. Ft.

$150.15

$147.20

SP/LP Ratio

95%

95%

Address

L/Price

S/Price

DOM

188 BERKSHIRE RD

119,900

120,900

65

577 BERKSHIRE RD

499,900

465,000

55

556 BROWN BROOK RD

227,900

230,000

51

774 CHESTNUT TREE HILL RD

239,900

230,100

70

84 COUGHLIN DR

460,000

440,000

79

39 COUNTRY WOODS LN

709,900

675,000

407

489 DUBLIN RD

598,876

575,000

106

93 HILLSIDE ROAD

202,000

189,000

71

976 OLD WATERBURY

375,000

342,000

93

225 PERKINS RD

379,900

368,000

69

282 PERKINS RD

399,900

399,000

16

200 ROCKY MOUNTAIN RD

450,000

407,500

65

30 WATCH HILL DR .

350,000

345,000

14

Active Listings

161

New Listings

2

Average List Price

$ 534,030

Median List Price

$ 482,000

Average Sq. Ft.

2666

Median Sq. Ft.

2493

List Price

Houses

%

< 200,000

4

2

200,001-300,000

22

13

300,001-400,000

34

21

400,001-500,000

35

21

500,001-600,000

22

13

600,001-700,000

16

10

700,001-800,000

10

6

>800,001

23

14

Address

L/Price

ADOM

508 BRITAIN RD

899,900

4

73 HORNET NEST RD

275,000

3

Closed Listings - 4

Average

Median

Days on Market

113

127

List Price

$ 340,225

$ 368,000

Sale Price

$ 315,775

$ 313,550

Sq. Ft.

3422

3512

LP/Sq. Ft.

$99.49

$90.26

SP/Sq. Ft.

$98.43

$91.63

SP/LP Ratio

99 %

98 %

Address

L/Price

S/Price

DOM

100 CEDAR GROVE ROAD

478,900

370,000

180

150 GEORGES HILL RD

125,000

156,000

4

372 NORTH GEORGES HILL RD

257,100

257,100

74

278 OLD POVERTY RD

499,900

480,000

195

Active Listings

166

New Listings

7

Average List Price

$534,170

Median List Price

$477,950

Average Sq. Ft.

2807

Median Sq. Ft.

2576

List Price

Houses

%

< 200,000

4

2

200,001-300,000

22

13

300,001-400,000

34

21

400,001-500,000

35

21

500,001-600,000

22

13

600,001-700,000

16

10

700,001-800,000

10

6

>800,001

23

14

Address

L/Price

ADOM

1066 SOUTH BRITAIN RD

375000

3

266 OLD WATERBURY RD

385000

4

191 COMMUNITY HOUSE ROAD

524900

4

1071 OLD WATERBURY ROAD

534900

1

291 DUBLIN ROAD

579900

1

111 ELK DR

622500

2

34 TALLWOOD RD

649900

4

Closed Listings - 11

Average

Median

Days on Market

79

65

List Price

$352,018

$315,000

Sale Price

$341,363

$313,500

Sq. Ft.

2201

2200

LP/Sq. Ft.

$161.99

$150.86

SP/Sq. Ft.

$156.92

$150.14

SP/LP Ratio

97%

96%

Address

L/Price

S/Price

DOM

197 AMOS WHITE RD

310,000

308,000

41

518 DUBLIN ROAD

462,500

462,500

11

195 GRASSLANDS RD

449,000

428,500

166

684 KETTLETOWN RD

315,000

313,500

22

335 LAKESIDE RD

399,000

370,000

139

401 NORTH GEORGES HILL RD

269,000

270,000

93

391 OLD FIELD RD

289,900

280,000

65

477 OLD FIELD ROAD

264,000

262,500

80

6 REVERE CIR

423,900

400,000

40

264 STRONGTOWN RD

274,900

260,000

7

151 WOODS WAY DR

415,000

400,000

207

Active Listings

154

New Listings

7

Average List Price

$553,012

Median List Price

$493,900

Average Sq. Ft.

2935

Median Sq. Ft.

2775

List Price

Houses

%

< 200,000

4

3

201,000-300,000

22

14

301,000-400,000

25

16

401,000-500,000

33

22

501,000-600,000

17

11

601,000-700,000

17

11

701,000-800,000

9

6

>801,000

26

17

Address

L/Price

ADOM

556 BROWN BROOK RD

234900

6

150 GEORGES HILL RD

125000

2

9 GETTYSBURG RD

423500

7

15 GREY ROCK RD

679900

6

261 ROYAL COACH LANE

699900

1

97 STRONGTOWN RD

325000

5

88 WESTENHOOK TERRACE

847500

4

Closed Listings - 5

Average

Median

Days on Market

155

117

List Price

$618,459

$549,900

Sale Price

$554,400

$507,500

Sq. Ft.

3284

3069

LP/Sq. Ft.

$194.83

$186.04

SP/Sq. Ft.

$173.83

$170.66

SP/LP Ratio

89%

86%

Address

L/Price

S/Price

DOM

126 RIVER TRAIL

137500

118000

376

99 COACHMANS ROAD

524999

507500

190

533 HULLS HILL RD

549900

476500

117

444 NORTH GEORGES HILL RD

1095000

950000

88

185 LITTLE FOX LANE

784900

720000

6

One of the most exciting new provisions of the Housing and Economic Recovery Act of 2008 is the First-Time Homebuyer Tax Credit. The credit is designed to encourage first-time homebuyers to go ahead and make the leap to purchase their first homes. If you have been on the fence about buying your first home combine this tax credit with the fact that home prices and interest rates are at historical lows, and indeed it is an ideal time for many first-time homebuyers to purchase homes. The fact that this credit is only available until July 1, 2009, potential buyers would be smart to take advantage of this unique opportunity. How often are you given the chance to put $7500 in your pocket especially for purchasing a new home?

Here are some things to keep in mind:

• The credit is available for homes purchased between April 9, 2008 and July 1, 2009
• The credit amounts to 10% of the purchase price of the home not to exceed $7,500
• A first-time homebuyer is defined as someone who has not owned a home in the last three years
• Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit
• The tax credit works like an interest free loan and must be repaid over a 15 year period

How does a tax credit work?
A tax credit is a special provision that reduces income tax liability on a dollar for dollar basis. When filing a tax return, you must include income items, deduction items and the number of exemptions, among other things, to figure your total tax liability. If your total tax liability ends up being $7,500, and you qualify for the full $7,500 tax credit, this credit would be applied and would wipe out all of the tax due. If your employer had already deducted the $7,500 from your pay checks throughout the year, you would receive a tax refund of $7,500.

Does the credit have to be repaid?
Yes, the credit does have to be repaid, so it is really more like an interest free loan. Homebuyers will be required to repay the credit to the government, without interest, over 15 years or when they sell the house, if there is sufficient capital gain from the sale. For example, a homebuyer claiming a $7,500 credit would repay the credit at $500 per year. The home owner does not have to begin making repayments on the credit until two years after the credit is claimed. So if the tax credit is claimed on the 2008 tax return, a $500 payment is not due until the 2010 tax return is filed. If the home owner sold the home, then the remaining credit amount would be due from the profit on the home sale. If there was insufficient profit, then the remaining credit payback would be forgiven.

Conclusion:
For more information about the first-time homebuyer tax credit or other changes resulting from the Housing and Economic Recovery Act of 2008, just give me a call. I would be happy to assist you with your mortgage in the purchase of your new home!