Market Report for Middletown for July 2007
Market Report for Middletown for July 2007 and Year to Date
Residential
There are 136 active residential listings in Middletown. In July 51 new listings came on the market, 30 homes went under deposit and there were 42 closings. The average sale price was $253,077, the average per sq.ft. price was $159 and the average days on the market were 44. In July of 2006, there were 37 closed sales with an average sale price of $277,418, an average per sq.ft. price of $166 and an average of 53 days on the market. Looking at these comparisons, prices were down 7.8% and per sq.ft.prices were down 4.2%.
Comparing the first 7 months of 2006 to the same time period in 2007, in 2006 there were 224 closed sales with an average sale price of $275,793, an average per sq.ft. price of $166 and the average days on the market were 67. In 2007 there have been 241 closed sales with an average sale price of $267,660, an average per sq.ft price of $158 and the average days on the market have been 59. Prices have dropped about 3% and the average per sq.ft.price has dropped 4.8%. The number of sales has increased by 7.6%. Overall again the market seems to be holding its own in Middletown.
Condominiums
There are 87 condos on the market in Middletown. In July there were 51 new listings, 14 went under deposit and there were 24 closed sales. The average sale price was $129,435, the average price per sq.ft was $148 and the average days on the market were 44. In July of 2006 there were 31 closed sales with an average sale price of $168,907, an average per sq.ft price of $144 and the average days on the market were 30. Looking at these comparisons it appears as though the average price has really dropped, but to see the whole picture I think we have to look at a longer period of time.
Comparing the first 7 months of 2006 to the first 7 months of 2007, in 2006 there were 140 closed sales with an average sale price of $160,946, an average per sq.ft.price of $145 and the average days on the market were 36. In 2007 there have been 144 closed sales with an average sale price of $160,239, an average per sq.ft.price of $146 and the average days on the market are 50. Looking at these numbers the average sale price is only down about a half percent and the other statistics remain relatively unchanged.
Marabeth Gildersleeve
Coldwell Banker Residential Brokerage
Glastonbury, Ct. 06033
Mailto:Marabeth@CtRealEstateCorner.com
Website: http://www.CtRealEstateCorner.com