Trumbull CT Market Report for year ending 2008

Provided By: Judy Cicalese, William Raveis Real Estate, Trumbull CT, Information deemed reliable, but not guaranteed. Information pertains to Single Family (SF) homes only.

As you can see from the above chart - 91 fewer homes were sold in 2008 than in 2007. This is a significant decrease and the AVG sold price has dropped as well. The main reason for the AVG price drop is the fact that 91 of those sold in 2008 were priced under $400,000 as this is the price range where homes are selling more quickly.

As of Jan 7, 2009: There are 162 ACTIVE listings, AVG Days on Market = 120. Prices range from $244,900 to $1,549,900. 65 of the Active homes are priced UNDER $400,000---great values right now here in Trumbull for buyers who are ready to buy.

I also think it's important to show a comparison of the homes that Expired (meaning they did not sell during their listing period which is usually 6 months. However, it also important to know that a good majority if not all are then relisted again and perhaps sold. 263 listings expired in 2008 compared with 243 in 2007. It is absolutely critical for Sellers to understand pricing at or below the market value will bring in the buyers. This is not a time to "test" the market.