Ellington, CT Market Report: 2011 in Review

Property Sales

September Property sales were 8, down -11.1% from 9 in September of 2010 and -33.3% lower than the 12 sales last month. September 2011 sales were at a mid level compared to September of 2010 and 2009. September YTD sales of 67 are running -23.0% behind last year's year-to-date sales of 87.

Prices

The Median Sales Price in September was $388,000, up 52.2% from $254,900 in September of 2010 and up 10.9% from $350,000 last month. The Average Sales Price in September was $388,156, up 59.9% from $242,767 in September of 2010 and up 6.5% from $364,625 last month. September 2011 ASP was at highest level compared to September of 2010 and 2009.

Inventory & MSI

The Total Inventory of Properties available for sale as of September was 115, up 2.7% from 112 last month and up 12.7% from 102 in September of last year. September 2011 Inventory was at highest level compared to September of 2010 and 2009.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The September 2011 MSI of 14.4 months was at a mid range compared with September 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 September was 101, up 80.4% from 56 days last month and up 260.7% from 28 days in September of last year. The September 2011 DOM was at its highest level compared with September 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 September 2011 Selling Price per Square Foot of $148 was down -0.7% from $149 last month and equal to $148 in September 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 September 2011 Selling Price vs Original List Price of 95.9% was down from 97.4% last month and up from 94.0% in September 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 September 2011 was 21, up 61.5% from 13 last month and down -12.5% from 24 in September of last year.

Homes for sale in ELLINGTON

If you, or someone you know are looking to buy, or sell a home, please call Tatyana (860) 648-9270. She'll get you results!

Easy Apple Recipes

Over the weekend, I picked twenty pounds of apples at Johnny Appleseed's on Route 83 in Ellington CT. I love apples and usually eat them plain but every so often I like to change up the flavor a bit.

Would I want to take a perfectly healthy apple and turn it into a high-calorie dessert? Certainly not! But I do like fabulous low calorie apple treats that are really simple to make. Here are a few of my favorites:

Apple Slices and Peanut Butter: Cut the apple into 8 to 12 wedges and dip into peanut butter (preferably all natural).

Apple Slices and Cinnamon Sugar: Instead of the peanut butter, mix up 1/2 a teaspoon of cinnamon and 1 teaspoon of sugar and dip the apples in that.

Just in case you don't think these are "recipes" and are really craving apple pie without the calories, you can always try this low-calorie baked apple streusel.

Baked Apple Streusel

Three apples (peeled or not) cut in thin slices and tossed with cinnamon sugar. Put in buttered pie pan and cover with streusel topping. Bake at 350 degrees until the top is browned and the apples are somewhat soft.

Streusel Topping: 1/2 cup of regular rolled oats, two tablespoons of brown sugar, 1/4 teaspoon of salt, two teaspoons of butter, mixed together until crumbly.

Enjoy!

Ellington CT Real Estate Market Report – Sept 2011. Right now there are currently 98 active homes for sale in the Ellington CT market ranging in price from 50k to 1.7 million and 21 homes under deposit. In the past year from 9/1/10-8/31/11 we have seen 91 Ellington homes sell for an average price of 298k which is considerably lower than the year prior 9/1/09-8/31/10 which saw 114 homes sell at an average price of 335k.

The Ellington market report does show some positive signs as we look at August though. The average and median sale price of homes in Ellington is up considerably from the six months prior. August Property sales were 12, up 140.0% from 5 in August of 2010 and 100.0% higher than the 6 sales last month. The Total Inventory of Properties available for sale as of August was 112, down -9.7% from 124 in July.

And one of the most positive things we are seeing is the downward trend in Days on Market. 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 August was 56, down -31.7% from 82 days last month and down -15.2% from 66 days in August of last year. The August 2011 DOM was at its lowest level compared with August of 2010 and 2009.

Ellington CT is a fantastic place to call home with excellent schools, great parks, shops, and a beautiful country location. Subscribe to my blog for more info on Ellington CT and Ellington CT Real Estate. If you are interested in BUYING or SELLING a home in Ellington CT call Jeremy Joslin at (860)748-9381 your Ellington Neighborhood Realtor.

Property Sales

August Property sales were 12, up 140.0% from 5 in August of 2010 and 100.0% higher than the 6 sales last month. August 2011 sales were at a mid level compared to August of 2010 and 2009. August YTD sales of 59 are running -24.4% behind last year's year-to-date sales of 78.

Prices

The Median Sales Price in August was $350,000, up 2.9% from $340,000 in August of 2010 and up 19.7% from $292,500 last month. The Average Sales Price in August was $364,625, up4.7% from $348,299 in August of 2010 and up 33.2% from $273,833 last month. August 2011 ASP was at highest level compared to August of 2010 and 2009.

Inventory & MSI

The Total Inventory of Properties available for sale as of August was 112, down -9.7% from 124 last month and up 2.8% from 109 in August of last year. August 2011 Inventory was at highest level compared to August of 2010 and 2009.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The August 2011 MSI of 7.3 months was at mid range compared with August 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 August was 56, down -31.7% from 82 days last month and down -15.2% from 66 days in August of last year. The August 2011 DOM was at its lowest level compared with August 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 and low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The August 2011 Selling Price per Square Foot of $149 was up 13.7% from $131 last month and down -3.9% from $155 in August 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 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 August 2011 Selling Price vs Original List Price of 97.4% was down from 98.2% last month and up from 94.5% in August of last year.

Inventory / New Lisitngs / 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 August 2011 was 13, down -27.8% from 18 last month and down -38.1% from 21 in August of last year.

If you, or someone you know are looking to sell or buy a home, please call Tatyana (860) 648-9270. See current homes for sale in Ellington: HOMES FOR SALE