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Home Portland CT Market Trends

Portland CT Market Trends

Trending Versus*: Trending Versus*:
Market Profile & Trends OverviewMonthLML3MPYMLYYTDPriorYTDPriorYear
Median List Price of all Current Listings $272,400 -3% 10%
Average List Price of all Current Listings $297,490 -3% 0%
December Median Sales Price $253,500 21% 21% 3% 9% $202,000 -14% -13%
December Average Sales Price $270,250 31% 16% 7% 10% $229,678 -7% -7%
Total Properties Currently for Sale (Inventory) 64 -7% -2%
December Number of Properties Sold 6 -40% 0% 75 -10%
December Average Days on Market (Solds) 116 15% 30% 68% 73% 95 46% 42%
Asking Price per Square Foot (based on New Listings) $140 5% -1% 24% -5% $144 -3% -3%
December Sold Price per Square Foot $142 8% 8% 1% 1% $135 -4% -4%
December Month's Supply of Inventory 10.7 55% 32% -2% 2% 21.0 101% 101%
December Sale Price vs List Price Ratio 95.4% -1.4% -1% -1% -1.7% 95.1% -2.0% -2.0%
* LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year / YTD = Year-to-date

Property Sales

December Property sales were 6, equal to 6 in December of 2010 and -40.0% lower than the 10 sales last month. December 2011 sales were at their lowest level compared to December of 2010 and 2009. December YTD sales of 75 are running -9.6% behind last year's year-to-date sales of 83.

Prices

The Median Sales Price in December was $253,500, up 3.3% from $245,500 in December of 2010 and up 20.7% from $210,000 last month. The Average Sales Price in December was $270,250, up 6.5% from $253,733 in December of 2010 and up 30.7% from $206,770 last month. December 2011 ASP was at a mid range compared to December of 2010 and 2009.

Inventory & MSI

The Total Inventory of Properties available for sale as of December was 64, down -7.2% from 69 last month and down -1.5% from 65 in December of last year. December 2011 Inventory was at a mid range compared to December of 2010 and 2009.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The December 2011 MSI of 10.7 months was at a mid range compared with December of 2010 and 2009.

Market Time

The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for December was 116, up 14.9% from 101 days last month and up 68.1% from 69 days in December of last year. The December 2011 DOM was at a mid range compared with December of 2010 and 2009.

Selling Price per Square Foot

The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the 'mix' of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The December 2011 Selling Price per Square Foot of $142 was up 7.6% from $132 last month and up 0.7% from $141 in December of last year.

Selling Price vs Original Listing Price

The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The December 2011 Selling Price vs Original List Price of 95.4% was down from 96.8% last month and down from 96.7% in December of last year.

Inventory / New Listings / Sales

'This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in December 2011 was 7, down -12.5% from 8 last month and up 16.7% from 6 in December of last year.

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Posted Sunday Jan 22