Trumbull, CT

Trumbull Real Estate and Home Values - 2008 Update

Trumbull Real Estate is off to a slow start for the New Year. Coming off two stable years in Unit Sales and Pricing, 2008 stumbled out of the gate. While you don't want to jump to any conclusions after one month of date, it does make February take on more importance.

The drop in Home Sales could be tied to the Federal Reserve's highly publicized cutting of interest rates and the expectation rates will be going lower. Buyers may be waiting on the sidelines not wanting to commit until they are sure of their buying power and the real cost of financing.

I fully expect sales prices and home values to catch up to past years with more data in for February and March. We are seeing the gap between Sales Price and Asking Price increase. It is now just over 5%.

In a few weeks, we will be able to see what direction February sales drives the market. Keep you fingers crossed......

If you would like to see the actual sales for Trumbull or any town in Connecticut, please visit my web site at www.tetreau.com

Trumbull Yearend Update 2007

Sales of Single Family Homes

Trumbull has always been known for value. Just one town past the "last" commuter town of Fairfield, buyers have always found a lot for their money. So there is the dilemma - either pay of larger mortgage payment in Fairfield or have a longer commute each day to the high paying jobs in Stamford, Westchester County and New York City.

Trumbull is seeing a similar trend to its neighboring towns. Unit Sales are off almost 20% from 2005. This represents a small decline from a slow 2006. Both Median and Average Selling prices have continued at a stable to up a bit pace. Homes in Trumbull are getting larger and moving up in price. Thirteen Homes sold in this past year for $1 Million or more.

Or visit my web site at: www.tetreau.com

Provided By: Judy Cicalese, William Raveis Real Estate, Trumbull CT

Information deemed reliable, but not guaranteed. All information per Consolidated MLS.

As of Jan 28, 2008:

161 ACTIVE listings

18 are UNDER DEPOSIT, and 10 are PENDING closing

Average Days on Market is 97 for the current Active listings. The Active Home prices range from: $274,900 to $1,575,000

80 homes have EXPIRED, been WITHDRAWN or CANCELLED since Dec 1, 2007 thru Jan 28, 2008. Sometimes these homes are re-listed perhaps at a lower price or with a different company or simply taken off the market completely.

104 Homes closed during the 4^th Quarter of 2007, with an AVG price of $510,227 and days on market being an AVG of 92.

Comparing 2006 with 2007 Sales for Single Family Sold Homes are the following:

2006 - 385 Homes Sold, AVG Price = $507,615, AVG Days on Market = 78
2007 - 376 Homes Sold, AVG Price = $520,948, AVG Days on Market = 94