Madison Guilford Clinton Killingworth Westbrook Real Estate Inventory Report for Week Ending 8/11/2007

Inventory Report for 8/11/07, Madison Guilford Clinton Killingworth Westbrook Connecticut - Real Estate Market Data

Tom Burland http://www.ct-shore-homes.com/

This is an update to my previous report noting this past week's activity.

Inventory is stablized moving slightly from 729 to 726 which has been hovering in that area for the last 7 weeks, while lower than last year's record levels at this time are still at a high for the year.

New Listings are just that - recently listed properties "new" to the market - in reality some percentage of these are a re-contracting of expired listings.

Deposits show properties under contract that have cleared contingencies - near real time reflection of buyer activity.

Under Contract- are real time reflections of actual transactions, these are contracts written in the past week that have some contingencies involved.

Closed -are properties that have the total transaction completed in the past week, generally these are contracts written 45 to 60 days earlier.

Expireds - are properties that were on the market that didn't sell.

Price Changes - generally in this type of market are properties where list price has been reduced. This usually occurs after a property has been on the market for some time with little traffic and/or no or unacceptable offers.

Now these are general market statistics, in all of these towns there are discrete segments that may be behaving differently. One example of a segment is price range, another is location in town, another is style or number of bedrooms etc. Realtors are equipped to interpret this data for customers to make sure properties are positioned correctly and offers make sense in the current market.