Branford Condo Real Estate Market Report October 2009
Understanding the general direction of the current Branford condo real estate market is of vital importance to both sellers and buyers in order to help you make a more informed decision when buying or selling a condo in Branford CT.
There are currently 115 Branford condos for sale rangining in price from $91,900 to $799,000.
In the month of October 2009 there were 23 condos that closed which is an increase of 4 condos as there were 19 condos that closed in October 2008.
The average sales prices of the Branford condos sold in October 2009 was $236,856 with an average 125 days on the market versus $223,295 for those sold in October 2008 with an average 88 days on the market.
Median sales price for October 2009 was $190,000.
Median sales price for October 2008 was $197,000.
Below is a summary of the Branford condo real estate market that provides a more in depth view of market conditions over the past twelve months.
For the period of January-October 2008 there were 164 Branford condos sold with an average list price of $229,740, average sales price of $219,318, a median sales price of $200,000 and an average days on market of 98 days.
For the period of January-October 2009 there were 140 Branford condos sold with an average list price of $221,390, average sales price of $206,679, a median sales price of $190,000 and an average days on market of 97 days.
In reviewing this comparison of year to year market data for the Branford condo real estate market there has been a substantial decrease in the number of condos sold along with a decrease in the average sales price.. The average days on market for condos sold this year remained relatively flat from the previous year. There are signs that the Branford condo real estate market may be beginning to stabilize as indicated by the trend of the data in the market absorption chart.
The data for the Branford Condo real estate market report for October 2009 is based on statistics provided from the CTMLS (private sales are not included).
Click here for previous Branford Condos Market Reports
Contact Donna Bigda, ABR, SRES, e-PRO, Realtor®, RE/MAX Alliance Licensed Realtor® in the State of Connecticut at 203-488-1641, ext. 214 to list your property for sale or to purchase a property in Branford, Guilford, Madison, East Haven, New Haven and the rest of shoreline area in New Haven County Connecticut.
There are great opportunities for today's buyers looking for an affordable Branford Condo and the benefit for those who may qualify for the $8,000 First Time Homebuyer Tax Credit along with the great low interest rates that are available.
If you're considering selling your condo in Branford CT, we'd be happy to provide you with a Pin-Point Price Analysis which will help you determine what it might sell for in today's market.
Disclaimer: All information provided by this author is strictly an opinion, is not guaranteed, may be based on information collected from several sources, which may or may not be deemed reliable at the time of researching this article and may be time sensitive.
Copyright © 2009 by Donna Bigda, All Rights Reserved ...*Branford Condo Real Estate Market Report October 2009*