September Market Report for Middletown and 1st 3 Quarters Comparison to 2007
Market Report for Middletown for September and 1st 3 Quarters
Residential
September
Active – 152
New Listings – 52
Deposits – 20
Closed – 24
Average Sale Price - $211,372
SP/Sq.Ft - $145.12
DOM – 55
1/1/2008 – 9/30/2008
Closed – 199
Average Sale Price - $253,137 Median Sale Price - $228,000
SP/Sq.Ft. - $155.08
DOM – 65
1/1/2007 – 9/30/2007
Closed – 309
Average Sale Price - $268,082 Median Sale Price - $250,500
SP/Sq.Ft. - $156.91
DOM -60
Number of sales are down 36% compared to last year. Average sale prices are down 5.6% and median sale prices are down 9%. September saw a drop of 16.5%
compared to the first 9 months of the year. Hopefully this is not a trend.
Condominiums
September
Active – 76
New Listings – 27
Deposits – 10
Closed – 15
Average Sale Price - $161,533
SP/Sq.Ft - $142.54
DOM – 72
1/1/2008 – 9/30/2008
Closed – 136
Average Sale Price - $169,319 Median Sale Price - $154,000
SP/Sq.Ft. - $149.94
DOM – 82
1/1/2007 – 9/30/2007
Closed 182
Average Sale Price - $161,523 Median Sale Price - $156,100
SP/SqFt - $146.08
DOM – 48
Sales are down 25.3% compared to last year. Average sale price is up 4.8% and median is down by 1.4%. Overall condo sales are faring better than residential.