Pricing on listed and sold homes dIffers by 10%. The average listing price of all homes on market in Berlin is currently $296,514, while the average price of all homes sold in the last year is only $268,106. Interestingly, while the DOM (days on market) of the average home currently listed for sale in Berlin is 176 days – the DOM for homes that have sold is just 102 days. When priced right, a home in Berlin will sell and it will sell in less than 4 months. Overpricing is likely the reason 30% of home sellers in Berlin fail to sell their homes.

What does that mean to you as an Berlin home seller? If you are considering going market, you will have to be very realistic about the value of your home. You only have a 70% shot at selling your home at all. How do you make it happen in this market? By offering the buyers the best value available on the market. An experienced CT realtor can guide you through this.

Short sales and foreclosures in Berlin in 2011: Out of all sold homes in 2011 2% were short sales and 6% were bank owned (foreclosed). Out of listed market inventory 3% of all homes on market are short sales, while 2% of homes are bank owned – making distressed homes just 5% of the current inventory in Berlin, CT.

What will 2012 hold? Only time will tell.

FIND AN EXPERIENCED BERLIN, CONNECTICUT REALTOR.