Market Report for Middletown, Ct for Dec.2006 and for the Year

Market Update for Middletown for December 2006

Residential

In Middletown the number of active listings is down from last month, with only 123 homes currently on the market. Part of this is because of the time of year, since 28 listings expired in the month of December. There were 23 new listings, 25 deposits taken and 22 closed sales. The average closed sales price was $301,259. In 2005 there were 38 closed sales in December with an average sale price of $271,590, so for the month of December the average sale price increased.

Looking at a comparison of the market between 2005 and 2006 for the whole year, in 2005 there were 470 closed sales with an average sale price of $278,055 and in 2006 there were 381 closed sales with an average sale price of $275,416. There was a 19% decrease in sales and a 1% decrease in price.

Condominiums

The condominium market in Middletown has 59 Active listings and 14 closed sales for the month of December with an average sale price of $225,071 and in 2005 for the month of December there were 24 closed sales with an average sale price of $188,023.

Looking at a comparison of the market between 2005 and 2006, in 2005 there were 276 closed sales with an average sale price of $143,036 and in 2006 there were 233 closed sales with an average sale price of $169,025. Number of sales was down 16%, but the average sale price was up about 15%. Overall the condo market is still looking strong.