Bridgeport CT - Year End Market Report for 2011

155 Grovers Avenue in the Black Rock section of Bridgeport

Listed at $645,000, Sold for $633,000, Closed on 6/27/11

Listing Agent: Gail Robinson, Selling Agent: Gail Robinson

REAL ESTATE MARKET REPORT

January through December 2011

SINGLE FAMILY - BRIDGEPORT CT

The number of family homes sold in Bridgeport in 2011 have decreased by 3% from 2010. Prices have also declined 8%. Inventory is high, which means there is a 12 month supply of homes. Since the average listing agreement is 6 months, there is a 50% chance that a listing will expire without being sold. The Sales to List Price Ratio has declined from 95% in 2010 to 93% in 2011. Distressed properties continue to depress home prices, but are also of interest to buyers who are taking advantage of low interest rates and low prices. Although fewer homes sold in 2011, we have to remember that in 2010 there was a New Homeowner's buyer incentive offered by the Federal government. There was no buyer incentive program in 2011.