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Marabeth Gildersleeve's Central Ct Blog

Articles will be posted that will be of interest to you as a buyer or seller or renter, including mortgage information, insurance information, market statistics for Glastonbury, Portland and Middletown, listings, open houses.
Market Report for Middletown for June and First Half of 2008 Compared to 2007

Market Report for Middletown for June 2008 & First Half of 2008 to 2007

 

Residential

 

June 2008

Active – 176

New in June – 57

Deposits – 23

Closed – 15

Avg.Sale Price - $285,000

Sp/SqFt - $173.49

DOM – 26

 

Jan. 1 ,2008 – June 30, 2008

Closed – 112

Median Sale Price - $232,500

Sp/SqFt - $161.08

DOM – 45

 

Jan. 1, 2007 – June 30, 2007

Closed – 200

Median Sale Price - $255,500

SP/Sq.Ft - $158.48

DOM – 44

Comparing the first half of 2008 to 2007 sales are down 46%, prices are down 9.1% and days on market are relatively unchanged.  As you can see there has been a big drop in sales and prices seem to have dropped.

 

Condominiums

 

June 2008

Active – 83

New in June – 14

Deposits – 15

Closed 12

Avg. Sale Price - $190,000

SP/SqFt - $142.97

DOM – 29

 

Jan. 1, 2008 – June 30, 2008

Closed – 87

Avg. Sale Price - $172,868

SP/SqFt - $151.20

DOM – 72

 

Jan.1, 2007 – June 30,2007

Closed – 122

Avg.Sale Price - $168,278

Sp/Sq.Ft - $145.83

DOM - 51

Comparing the first half of 2008 to 2007 sales are down 28.7%, prices are up 2.7% and it is taking longer to sell.  Overall it looks as though the condo market is faring better than the residential market in Middletown.

Published Wednesday, July 16, 2008 8:46 AM by Marabeth Gildersleeve

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