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.