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Marlborough, CT

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Marlborough, CT Market Report: 2011 in Review

03-09-12
Minna Reid, CT REALTOR®, Short Sale Agent
Minna Reid, CT REALTOR®, Short Sale Agent: Real Estate Agent in Berlin, CT
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  • Mobile: (860) 416-1255

Marlborough, CT Market Report: 2011 in Review

2011 was a slow year for home sellers in Marlborough, CT . 54 homes in Marlborough, CT sold in 2011 – a decrease from 2010. However - the average sales price of $310,103 is actually an 11% increase from the sales prices of 2010.

Should the trend continue, just 6% of current market inventory of 70 homes in Marlborough is expected to sell in any given month. Another telling figure is the amount of homes that expired in 2011. An expired home is a home that goes on market, but ultimately just does not sell at. In 2011, 72 homes in Marlborough expired unsold – leaving the odds of successfully selling at just 43%. The average listed price of homes currently on market is $348,119 – a 10% difference over the average selling price.

What does that mean to you as a Marlborough, CT home seller? If you are considering going on market, you will have to be very realistic about the value of your home if you wish to successfully sell. You have a lot of competition and just a 43% shot at selling your home at all. How do you make it happen in this market? With an aggressive marketing plan, and most importantly – THE RIGHT PRICE.

Short sales and foreclosures in Marlborough, CT in 2011: Out of all sold homes in 2011 4% were short sales and 12% were bank owned (foreclosed). 11% of all currently listed homes are short sales, while 9% of homes are bank owned – making distressed homes 20% of the current inventory in Marlborough, CT.

FIND OUT THE VALUE OF YOUR MARLBOROUGH CT HOME.

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Market Trends for Marlborough CT

01-27-12
Jamie R. Bell, GRI Your Central CT Realtor
Jamie R. Bell, GRI Your Central CT Realtor: Real Estate Agent in Glastonbury, CT
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  • Office: (860) 633-3661 x170
  • Mobile: (860) 604-8459

Marlborough is a small rural Central CT community with a population of approximately 6,300 residents and 200 small businesses. This scenic community is located less than 25 miles Southeast of Hartford and offers welcoming neighborhoods, a lake community with town beach and an overall scenic beauty. Considering a move? Check out the real estate Market Trends for Marlborough CT.

Market Profile & Trends OverviewMonthLML3MPYMLYYTDPriorYTDPriorYear
Median List Price of all Current Listings $285,000 -4% -12%
Average List Price of all Current Listings $327,380 -2% -25%
December Median Sales Price $210,000 -49% -42% -40% -20% $266,000 0% 1%
December Average Sales Price $293,100 -29% -22% -10% 3% $334,078 17% 18%
Total Properties Currently for Sale (Inventory) 51 -15% 21%
December Number of Properties Sold 5 25% -38% 47 -20%
December Average Days on Market (Solds) 94 6% 27% -2% 38% 83 24% 22%
Asking Price per Square Foot (based on New Listings) $123 -18% -12% -35% -27% $146 -15% -14%
December Sold Price per Square Foot $126 -5% -13% -3% -11% $142 -1% 0%
December Month's Supply of Inventory 10.2 -32% -35% 94% 0% 19.9 95% 95%
December Sale Price vs List Price Ratio 97.0% 2.1% 1% -2% 1.9% 96.0% 0.6% 0.9%

* LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year / YTD = Year-to-date

Trends are for single family homes between $100,000 - 2,000,000

Property Sales

December Property sales were 5, down -37.5% from 8 in December of 2010 and 25.0% higher than the 4 sales last month. December 2011 sales were at a mid-level compared to December of 2010 and 2009. December YTD sales of 47 are running -20.3% behind last year's year-to-date sales of 59.

Prices

The Median Sales Price in December was $210,000, down -39.9% from $349,200 in December of 2010 and down -49.0% from $411,450 last month. The Average Sales Price in December was $293,100, down -10.2% from $326,213 in December of 2010 and down -29.1% from $413,475 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 51, down -15.0% from 60 last month and up 21.4% from 42 in December of last year. December 2011 Inventory was at highest level 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 10.2 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 94, up 5.6% from 89 days last month and down -2.1% from 96 days in December of last year. The December 2011 DOM was at its lowest level 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 $126 was down -5.3% from $133 last month and down -3.1% from $130 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 97.0% was up from 95.0% last month and down from 99.3% 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 12, up 20.0% from 10 last month and up 500.0% from 2 in December of last year.

Discover the beauty, peaceful settings and inviting community... Market Trends for Marlborough CT!

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Sold! 59 Sherwood Lane, Marlborough CT

01-22-12
Linda Edelwich
Linda Edelwich: Real Estate Agent in Glastonbury, CT
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  • Office: (860) 818-3610 x146
  • Mobile: (860) 818-3610

Finally! This house hit the right market price and we found our buyer. Sold at $330,400.

www.59SherwoodLane.com

While this gorgeous home was built in 1998, this type of floor plan is highly desirable and similarly being built to this day. It was ahead of its time!

The two story great-room is a high light of this home! Dramatic wall of windows and wood burning fireplace and open bridge from the second floor over looks the great room. The floor plan is open and perfect for entertaining! Easy flow from room to room! The kitchen is large and bright. Features a center island and separate area perfect for homework or computer. The eat in area of the kitchen looks out onto the deck with hot tub. A roomy 12.5 x 12 dining room is off the kitchen and features a chair rail. There are hardwood floors on the first floor.

There is a formal sitting area open to the great room and has a den located off of it as well. The first floor also has a half bath and laundry room area.

The second floor features a large master suite with vaulted ceiling, huge walk in closet and large master bath with it own linen closet and Jacuzzi tub.

2 Additional bedrooms are located on the second floor and are serviced by a full bathroom.

The lower levels offers 2 additional completed rooms one with a bar area. The other half of the lower level is unfinished and is large enough for lots of storage options. The house is wired for a generator.

The lot is over 2.5 acres, private and has a large flat area perfect for all your outdoor needs. The yard also features a shed that has a play area perfect for kids!!

You will truly appreciate the location. Away from busy Hartford, this home is nestled in charming Marlborough close to shops, grocery and dining. Lake Terramuggas is a local favorite for recreational activities. There is an emergency room facility and town office a short distance away. An afternoon ride to the beach is a breeze! Sherwood is located just a short drive to Route 66 to get to Middletown or to Rt 2 Hartford.

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Marlborough CT Market trends

01-22-12
Linda Edelwich
Linda Edelwich: Real Estate Agent in Glastonbury, CT
  • view my blog
  • Office: (860) 818-3610 x146
  • Mobile: (860) 818-3610
Market Profile & Trends OverviewMonthLML3MPYMLYYTDPriorYTDPriorYear
Median List Price of all Current Listings $282,450 -4% -11%
Average List Price of all Current Listings $322,613 -2% -24%
December Median Sales Price $210,000 -49% -38% -40% -19% $265,500 1% 2%
December Average Sales Price $293,100 -29% -19% -10% 4% $327,743 16% 17%
Total Properties Currently for Sale (Inventory) 52 -15% 21%
December Number of Properties Sold 5 25% -38% 48 -20%
December Average Days on Market (Solds) 94 6% 25% -2% 38% 83 26% 22%
Asking Price per Square Foot (based on New Listings) $123 -18% -12% -35% -26% $146 -14% -13%
December Sold Price per Square Foot $126 -5% -9% -3% -11% $139 -2% -1%
December Month's Supply of Inventory 10.4 -32% -26% 94% 7% 19.8 104% 104%
December Sale Price vs List Price Ratio 97.0% 2.1% 1% -2% 2.0% 96.0% 0.6% 0.9%
* 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 5, down -37.5% from 8 in December of 2010 and 25.0% higher than the 4 sales last month. December 2011 sales were at a mid level compared to December of 2010 and 2009. December YTD sales of 48 are running -20.0% behind last year's year-to-date sales of 60.

Prices

The Median Sales Price in December was $210,000, down -39.9% from $349,200 in December of 2010 and down -49.0% from $411,450 last month. The Average Sales Price in December was $293,100, down -10.2% from $326,213 in December of 2010 and down -29.1% from $413,475 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 52, down -14.8% from 61 last month and up 20.9% from 43 in December of last year. December 2011 Inventory was at highest level 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 10.4 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 94, up 5.6% from 89 days last month and down -2.1% from 96 days in December of last year. The December 2011 DOM was at its lowest level 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 $126 was down -5.3% from $133 last month and down -3.1% from $130 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 97.0% was up from 95.0% last month and down from 99.3% 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 12, up 20.0% from 10 last month and up 500.0% from 2 in December of last year.
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59 Sherwood Lane, Marlborough CT - Open October 16 from 1-4

10-04-11
Linda Edelwich
Linda Edelwich: Real Estate Agent in Glastonbury, CT
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  • Office: (860) 818-3610 x146
  • Mobile: (860) 818-3610
Please join us for Coldwell Bankers Fall in Love with The American Dream" open House event on October 16, 2011 from 1-4pm. This home is priced well and is ready for immediate occupancy. Owners are relocating and say "bring me an offer". We will have house specs, mortgage information and treats for the attendees. Hope to see you there.
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