BHHS New England Properties 2014 Q3 Connecticut Market Report

Page 1

This Issue

The Luxury Market Insights into Fairfield County


1,000 Offices & growing Berkshire Hathaway HomeServices celebrated it’s first year anniversary by opening it’s 1,000th office.

a new Focus Recently featured in the Ct Post

Berkshire Hathaway HomeServices New England Properties’ Realtor Guihue “Ginger” Zhu speaks to the number of foreign buyers in the Connecticut market.

Read the full article

First Greenwich Open House Weekend a success On Oct. 3-5 the BHHSNEP Greenwich office partnered with local retailers for it’s first open house weekend featuring over 90 properties.

Welcome to Berkshire Hathaway HomeServices New England Properties’ Third Quarter Connecticut Market Report, our examination of the single family and condominium markets in Fairfield, Hartford, Litchfield, Middlesex, New Haven, New London, Tolland and Windham Counties. The Connecticut housing market showed consistency year over year with 8,461 closed sales, with single family home average and median prices remaining flat or slightly declining. Days on market have decreased, while supply has increased, creating a perfect environment for buyers. As we look to the last few months of 2014, we anticipate that national economic trends will influence pricing and buyer confidence. With still-low interest rates, an abundance of supply, and stabilized pricing, the remainder of 2014 proves to be a promising buyer’s market. At Berkshire Hathaway HomeServices New England Properties, our mission is to provide an unparalleled customer service experience throughout all aspects of the home transaction process. If you have any questions regarding this report, Berkshire Hathaway HomeServices New England Properties Realtors are here to help you navigate the current market with expert knowledge and exceptional service.

Candace Adams President and CEO

Prepared by: Candace Adams, President/CEO, cadams@bhhsne.com Kathryn Redican, Director of Marketing, kathrynredican@bhhsne.com Mark Pruner, REALTOR®, Greenwich Office, mark@bhhsne.com - The Luxury Market Report

ct market report • 2


Contents connecticut overview the luxury market fairfield County Hartford County litchfield County Middlesex County New Haven County New london County Tolland County Windham County

Cover Photo: Greenwich-Riverside www.19HiddenBrookRd.bhhsNEproperties.com Information here-in is based in whole or part on reports supplied by Collateral Analytics and area Multiple Listing Services (MLS), for residential property transactions as of September 30th, 2014, and is being provided “as is.” Data maintained by an MLS may not reflect all real estate activity in the market. It is deemed reliable but not guaranteed.

Newtown

• www.21FarmMeadowRoad.bhhsNEproperties.com

ct market report • 3


Connecticut Market Overview

Q3-2014

connecticut by the numbers • Connecticut’s rental market remained strong with signed leases up 4.6% year over year • There was a 9.1% increase in the number of sales over $5 million in the third quarter when compared •

to last year, however the inventory also increased with properties listed over $5 million making up 17.2% of current active listings in the luxury market Contracts signed – the leading indicator of real estate activity – increased in the condominium market year over year by 4.2%

Days on Market qtr 3 2014

%chg 13-14

Sales qtr 3 %chg 2014 13-14

Median Sales Price qtr 3 2014

%chg 13-14

Average Sales Price qtr 3 %chg 2014 13-14

Dollar Volume qtr 3 %chg 2014 13-14

FAIRFIELD COUNTY 1 Family

128

-5.9%

2320

-9.7%

$505,500

-3.8%

$813,400

2.1%

$1,887,194,000

-7.7%

Condo

123

-7.4%

649

-7.8%

$285,000

-1.9%

$364,400

2.9%

$236,504,000

-5.1%

HARTFORD COUNTY 1 Family

64

10.3%

2101

-0.4%

$229,000

0.0%

$267,800

0.9%

$562,716,000

0.5%

Condo

72

-12.8%

560

-0.5%

$155,000

-0.6%

$182,300

0.1%

$102,088,000

-0.4%

LITCHFIELD COUNTY 1 Family

120

-10.1%

457

3.6%

$205,000

-6.0%

$287,800

-16.2%

$131,543,000

-13.2%

Condo

99

-33.6%

62

-16.2%

$114,500

0.0%

$159,300

8.2%

$9,875,000

-9.3%

MIDDLESEX COUNTY 1 Family

78

6.8%

477

14.9%

$253,000

-8.0%

$307,800

-1.4%

$146,821,000

13.3%

Condo

93

3.8%

94

-6.9%

$136,800

3.6%

$169,200

1.0%

$15,907,000

-6.0%

NEW HAVEN COUNTY 1 Family

80

-6.3%

1660

-4.0%

$230,000

-3.8%

$267,000

-3.3%

$443,287,000

-7.1%

Condo

87

-16.3%

481

1.1%

$129,000

-11.0%

$165,400

-2.4%

$79,558,000

-1.3%

NEW LONDON COUNTY 1 Family

89

-2.9%

711

4.6%

$215,000

-2.6%

$249,800

-2.8%

$177,613,000

1.7%

Condo

120

-13.1%

103

19.8%

$113,500

-13.4%

$140,600

-25.4%

$14,484,000

-10.7%

TOLLAND COUNTY 1 Family

73

6.9%

411

5.4%

$225,000

-2.2%

$241,300

-0.3%

$99,157,000

5.1%

Condo

79

21.0%

53

-11.7%

$146,500

2.5%

$173,100

0.2%

$9,177,000

-11.5%

WINDHAM COUNTY 1 Family

83

-13.5%

324

20.9%

$159,000

0.9%

$174,600

3.1%

$56,573,000

24.7%

Condo

94

-31.3%

13

-53.6%

$172,000

41.6%

$140,300

4.8%

$1,824,000

-51.4%

New Housing Permits According to the National Association of Home Builders, builder confidence in the market for newly built, single family homes is at a nine-year high. In Connecticut, new housing permit data provided by the Connecticut Department of Economic and Community Development, shows a 17.4% increase year over year for single and multi-unit residential housing through August.

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ct market report • 4


Connecticut Market Overview

Q3-2014

CLOSED SALES There were 8,461 closed sales for single family homes during Third Quarter 2014, 1.6% lower than the number of sales in Third Quarter 2013 yet up 10.7% versus last quarter, a common seasonal trend. Condominium sales showed a year over year decrease of 3.7% but remained consistent with the same number of transactions as the second quarter of this year.

Single Family

Condominium

Statewide Closed Sales

9000 8000 7000 6000 5000 4000 3000 2000 1000 0 Q3 2012

Q4 2012

Q1 2013

Q2 2013

Q3 2013

Q4 2013

Q1 2014

Q2 2014

Q3 2014

CONTRACTS SIGNED Pending sales for single family homes in the third quarter were down year over year by 5.7%. Contracts signed for condominiums, however, was up 4.2% when compared to Third Quarter 2013. Single Family

Condominium

Signed

14000

Contracts Signed Statewide Contracts

Statewide Closed Sales

10000

12000 10000 8000 6000 4000 2000 0 Q3 2012

Q4 2012

Q1 2013

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Q2 2013

Q3 2013

Q4 2013

Q1 2014

Q2 2014

Q3 2014

ct market report • 5


Connecticut Market Overview

Q3-2014

sales volume Sales volume for single family homes in Connecticut decreased to $3,504,903,000, down 4.7%, when compared to Third Quarter 2013. Sales volume rose most notably in Windham and Middlesex Counties by 24.7% and 13.3% respectively. Statewide condominium dollar volume was $469,417,000, a 4.3% decrease year over year.

Statewide Sales Volume $4.0

Q3 2014 vs Q3 2013

Q3 2014 vs Q3 2013

-4.3% Single Family

$3.0 Dollars in Billions

-4.7%

$3.5

$2.5 $2.0 $1.5 $1.0 $0.5 $0.0

Condominium

Q3 2012

Q4 2012

Q1 2013

Q2 2013

Q3 2013

Q4 2013

Q1 2014

Q2 2014

Q3 2014

home prices Both single family and condominium home values are only slightly lower by percentage this quarter when compared to Third Quarter 2013 with single family home average sale prices at $414,200. Windham led the State this quarter with a 3.1% increase, followed by Fairfield County with a 2.1% increase. Average condominium sale prices are $233,000 statewide with Litchfield and Windham Counties showing increases of 8.2% and 4.8% respectively.

Average Sales Price Single Fam ily

Average Sales Price Condom inium

Q2 2014

$422,400

$228,300

Change

-1.9%

Q3 2014

$414,200

$233,000

$263,500

$165,000

Q2 2013

$427,700

$234,500

$275,000

$177,000

Change

-3.2%

-0.6%

-4.2%

-7.1%

Q3 2014

$414,200

$233,000

$263,500

$165,000

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2.1%

Median Sales Price Single Fam ily

$260,000 1.3%

Median Sales Price Condom inium

$168,000 -1.8%

ct market report • 6


The Luxury Market

Q3-2014

Fairfield

• www.80FlemingLane.bhhsNEproperties.com

Connecticut as a whole has seen a 1.3% increase in the number of sold luxury residences in 2014 versus 2013, characterized as sales over $2 million. Sales have shifted toward more expensive homes with the percent of sold homes over $5 million up 9.1% year over year with 19 properties sold for over $10 million so far in 2014. Fifteen of these properties are in Greenwich, but Darien, New Canaan and Fairfield all had sales over $10 million.

connecticut Luxury Sales Luxury sales

Over $5 Million

$3-$5 Million

$2-$3 Million

Q3 2014 Q2 2014 Q1 2014 Q4 2013 Q3 2013 Q2 2013 Q1 2013 Q4 2012 Q3 2012 0

50

100

150

200

250

Number of Sales

The high-end market continues at a nice pace in Fairfield County. In the first nine months of 2014 there were 448 sales over $2 million. Of those sales 93% were in Greenwich, Westport, New Canaan and Darien, with 50% of all sales in Greenwich. So far this year $1.67 billion dollars of single family homes and condominiums over $2 million have been sold in Fairfield County, up 17.6% over last year. Sales have climbed from 429 units in the first 9 months of 2013 to 448 units so far this year or an increase of 4.7%.

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ct market report • 7


The Luxury Market

Q3-2014

The average price of these units has increased to $3,734,000 up 12.3% from the first nine months of 2013. Of this gain in average price, $267,000 is due to the sale of one house, Copper Beach Farm in Greenwich, CT, which sold in April for $120,000,000. Excluding this sale, the average price for houses over $2 million in Fairfield County is $3,475,000, still up 4.5% year over year.

fairfield county luxury sales 2014 1st 9 Mos

2013 1st 9 Mos

Units

Total $

units

total$

Diff

BRIDGEPORT

1

$2,200,000

0

$-

1

$2,200,000

DARIEN

54

$154,519,493

58

$169,136,800

-4

$(14,617,307)

FAIRFIELD

12

$40,200,000

16

$48,035,000

-4

$(7,835,000)

GREENWICH

224

$1,008,153,852

205

$751,036,068

19

$257,117,784

NEW CANAAN

66

$203,574,775

56

$160,472,000

10

$43,102,775

NORWALK

9

$30,647,633

9

$28,209,000

0

$2,438,633

RIDGEFIELD

4

$11,212,500

4

$12,933,062

0

$(1,720,562)

SHERMAN

1

$2,050,000

1

$3,550,000

0

$(1,500,000)

STAMFORD

3

$6,387,500

5

$12,230,243

-2

$(5,842,743)

WESTON

1

$2,900,000

1

$2,450,000

0

$450,000

WESTPORT

71

$206,149,237

70

$228,991,950

1

$(22,842,713)

WILTON

3

$8,777,500

4

$8,977,500

-1

$(200,000)

Total

448

$1,556,772,490

429

$1,426,021,623

19

$130,750,867

third quarter fairfield county unit sales over 2m The third quarter of 2014 had two good months of sales followed by a September with lower sales than in either 2013 or 2012. Once again this was true for the whole market both above and below $2 million. Overall sales were down a small 3% for the third quarter of 2014, but still up for the year.

2014

2013

2012

90 80

70 60 50

40 30

20 10 0

This market is still challenging, with more sellers than buyers, but the momentum is definitely swinging to the sellers. For sellers that need to sell, pricing their house to today’s market is essential. Alternatively, many sellers at the high-end of the market don’t have to sell and if a buyer really wants one particular unique property they will most likely have to pay a premium.

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ct market report • 8


Fairfield County

Greenwich • www.233ByramShoreRd.bhhsNEproperties.com

LITCHFIELD

WINDHAM HARTFORD

TOLLAND

MIDDLESEX

NEW LONDON

NEW HAVEN FAIRFIELD

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ct market report • 9


Fairfield County

Q3-2014

Fairfield County experienced a 9.7% decline in closed sales and 7.7% decline in dollar volume compared to the third quarter of last year. Average prices increased slightly, which confirms the property mix includes more high-end properties. Days on market dropped 17 more days since last quarter to 126 days. Rental prices in Fairfield County continued to decrease this quarter with an average price of $2,900.

Average and sales pricePRICE AVERAGE ANDmedian MEDIAN SALES Average Single Family

Average Condominium

Median Single Family

Median Condominium

900000 800000 700000 600000 500000 400000 300000 200000 100000 0 Q3 2012

Q4 2012

Q1 2013

Number of Sales

Days on Q3 2013 Market

Q3 2014

2969

126

Q2 2014

2857

143

Q1 2014

1663

157

Q4 2013

2445

Q3 2013

3272

Q2 2013

Single Family147 Condominium

Q3 2013

Q4 2013

Q1 2014

Q2 2014

Q3 2014

single family and condo ratio 2013 Q3Q32013

Single Family

Condominium

Single Family

Q3 Q32014 2014

Single Family

Condominiums

Condominium

135

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ct market report • 10

Q3

Single Fam


Fairfield County

Q3-2014

Days on Market

Sales qtr 3 %chg 2014 13-14

qtr 3 2014

%chg 13-14

1 Family

104

-44.3%

38

Condo

737

530.2%

Median Sales Price

Average Sales Price qtr 3 %chg 2014 13-14

Dollar Volume qtr 3 %chg 2014 13-14

qtr 3 2014

%chg 13-14

-2.6%

$319,000

2.9%

$329,100

-2.1%

$12,504,000

-4.6%

11

-21.4%

$230,000

-9.4%

$287,700

-3.8%

$3,164,000

-24.4%

BETHEL

BRIDGEPORT 1 Family

142

3.2%

138

-11.0%

$151,000

-2.6%

$167,000

4.4%

$23,039,000

-7.1%

Condo

101

11.4%

62

37.8%

$60,000

-22.1%

$75,100

-17.3%

$4,656,000

14.0%

1 Family

148

7.5%

49

-29.0%

$325,000

-9.7%

$379,200

-9.4%

$18,581,000

-35.6%

Condo

131

2.0%

11

-64.5%

$264,900

2.4%

$269,900

2.8%

$2,969,000

-63.5%

BROOKFIELD

DANBURY 1 Family

114

-10.8%

124

5.1%

$265,000

-9.5%

$276,400

-12.9%

$34,272,000

-8.5%

Condo

116

-24.7%

90

-6.2%

$250,000

19.2%

$232,000

1.8%

$20,878,000

-4.5%

1 Family

102

-14.6%

136

-9.3%

$1,300,000

14.0%

$1,336,100

8.6%

$181,714,000

-1.5%

Condo

160

230.9%

5

-16.7%

$400,000

-39.2%

$317,100

-52.4%

$1,586,000

-60.4%

1 Family

128

-22.0%

35

45.8%

$630,000

27.0%

$682,600

24.0%

$23,890,000

80.9%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

141

20.3%

201

-25.6%

$589,000

-2.4%

$714,500

-2.1%

$143,606,000

-27.1%

Condo

102

-10.5%

41

20.6%

$490,000

19.5%

$494,400

14.8%

$20,270,000

38.4%

1 Family

141

2.9%

189

-8.7%

$1,665,000

-2.1%

$2,378,900

7.6%

$449,604,000

-1.8%

Condo

131

-5.8%

45

-26.2%

$755,000

7.1%

$998,000

27.6%

$44,910,000

-5.8%

1 Family

110

-25.6%

53

-3.6%

$330,000

-21.6%

$358,700

-15.1%

$19,010,000

-18.2%

Condo

100

-41.1%

18

125.0%

$213,500

12.4%

$210,800

11.6%

$3,795,000

151.1%

1 Family

155

-10.9%

81

-16.5%

$1,750,000

25.1%

$1,811,400

10.3%

$146,720,000

-7.9%

Condo

149

-21.2%

20

17.6%

$807,000

10.2%

$890,700

12.1%

$17,813,000

31.9%

1 Family

153

10.9%

51

2.0%

$355,000

20.3%

$431,600

22.3%

$22,014,000

24.7%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

163

-28.1%

121

27.4%

$370,000

0.8%

$417,100

5.5%

$50,471,000

34.4%

Condo

125

-24.5%

13

44.4%

$470,000

13.3%

$434,700

10.7%

$5,652,000

59.9%

DARIEN

EASTON

FAIRFIELD

GREENWICH

MONROE

NEW CANAAN

NEW FAIRFIELD

NEWTOWN

NORWALK 1 Family

125

-11.7%

172

-0.6%

$449,500

-5.0%

$557,800

-4.6%

$95,950,000

-5.1%

Condo

120

-18.6%

61

-39.6%

$230,000

-5.3%

$270,300

-2.7%

$16,489,000

-41.2%

1 Family

134

-37.8%

21

-46.2%

$610,000

17.9%

$667,400

19.7%

$14,016,000

-35.6%

Condo

100

-31.0%

1

-50.0%

$650,000

11.1%

$650,000

11.1%

$650,000

-44.5%

REDDING

RIDGEFIELD 1 Family

119

-37.0%

117

-12.0%

$650,000

-13.7%

$799,900

-9.8%

$93,587,000

-20.6%

Condo

74

-49.4%

18

80.0%

$249,000

-31.2%

$301,900

-16.1%

$5,433,000

51.1%

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ct market report • 11


Fairfield County

Q3-2014

Days on Market

Sales qtr 3 %chg 2014 13-14

qtr 3 2014

%chg 13-14

1 Family

111

6.6%

88

Condo

108

-36.8%

1 Family

243

Condo

-

1 Family Condo

Median Sales Price

Average Sales Price qtr 3 %chg 2014 13-14

Dollar Volume qtr 3 %chg 2014 13-14

qtr 3 2014

%chg 13-14

-16.2%

$279,300

-19.3%

$312,500

-17.5%

$27,500,000

-30.8%

29

-32.6%

$319,900

13.0%

$324,400

5.3%

$9,406,000

-29.0%

31.1%

10

-16.7%

$344,300

-22.2%

$504,100

-29.4%

$5,041,000

-41.2%

-

-

-

-

-

-

-

-

-

108

3.5%

198

-8.8%

$621,300

7.3%

$694,200

5.1%

$137,450,000

-4.1%

102

-16.5%

155

3.3%

$315,000

-3.4%

$380,300

4.2%

$58,939,000

7.7%

SHELTON

SHERMAN

STAMFORD

STRATFORD 1 Family

115

-4.8%

124

-4.6%

$235,000

0.5%

$255,500

6.3%

$31,684,000

1.4%

Condo

149

28.8%

42

27.3%

$178,000

-3.8%

$192,700

-4.2%

$8,093,000

21.9%

1 Family

97

-2.7%

133

-8.3%

$385,000

5.5%

$412,400

5.4%

$54,855,000

-3.3%

Condo

128

11.2%

10

-41.2%

$330,000

10.0%

$325,400

6.5%

$3,254,000

-37.3%

1 Family

136

9.1%

59

-6.3%

$775,000

-0.1%

$830,400

-4.3%

$48,994,000

-10.4%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

148

29.5%

110

-21.4%

$1,384,500

9.9%

$1,671,500

17.3%

$183,864,000

-7.9%

Condo

105

12.5%

8

-42.9%

$600,000

32.1%

$565,300

0.1%

$4,523,000

-42.8%

1 Family

120

-17.0%

72

-12.2%

$820,300

-1.5%

$955,900

2.6%

$68,828,000

-10.0%

Condo

68

-16.3%

9

-25.0%

$379,000

-10.8%

$447,200

0.4%

$4,025,000

-24.7%

TRUMBULL

WESTON

WESTPORT

WILTON

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ct market report • 12


Hartford County

Avon • www.85BishopLane.bhhsNEproperties.com

LITCHFIELD

WINDHAM HARTFORD

TOLLAND

MIDDLESEX

NEW LONDON

NEW HAVEN FAIRFIELD

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ct market report • 13


Hartford County

Q3-2014

Hartford County’s single family home and condominium markets remained flat when compared to 2013 with significant changes only in the amount of time properties were on the market, an increase of 10.3% for single family homes and decrease of 12.8% for condominiums. Total dollar volume in sales reached $562,716,000, up 0.5% for single family homes and $102,088,000, down 0.4% for condominiums. The average sales price of single family homes was $267,800, consistent with 2013 pricing, and the average for condominiums was $182,300, up 0.1%. Average rental prices increased by 8.3% year over year to $1,611 per month.

Average and sales pricePRICE AVERAGE ANDmedian MEDIAN SALES Average Single Family

Average Condominium

Median Single Family

Median Condominium

300000 250000 200000 150000 100000 50000 0 Q3 2012

Q4 2012

Q1 2013

Q2 2013

Number of Sales

Days on Q3 2013 Market

Q3 2014

2848

66

Q2 2014

2540

71

Q1 2014

1628

79

Q4 2013

2342 Single Family 70 Condominium

Q3 2013

2826

Q3 2013

Q4 2013

Q1 2014

Q2 2014

Q3 2014

single family and condo ratio 2013 Q3Q32013

Single Family

Condominium Single Family

Q3 2014 Q3 2014

Single Family Condominium Condominiums

63

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ct market report • 14

Q3

Single Fam


Hartford County

Q3-2014

Days on Market

Sales qtr 3 %chg 2014 13-14

qtr 3 2014

%chg 13-14

1 Family

48

-2.0%

69

Condo

64

-21.6%

28

Median Sales Price

Average Sales Price qtr 3 %chg 2014 13-14

Dollar Volume qtr 3 %chg 2014 13-14

qtr 3 2014

%chg 13-14

16.9%

$430,000

-5.2%

$529,200

2.7%

$36,517,000

20.1%

-9.7%

$202,500

-10.0%

$230,700

-5.1%

$6,459,000

-14.3%

AVON

BERLIN 1 Family

69

37.7%

51

6.3%

$265,000

7.1%

$278,800

10.1%

$14,217,000

17.0%

Condo

81

27.0%

20

42.9%

$240,500

-16.0%

$257,100

-10.8%

$5,143,000

27.4%

1 Family

100

107.3%

53

12.8%

$156,000

-16.6%

$164,700

-28.3%

$8,729,000

-19.1%

Condo

84

86.6%

24

20.0%

$296,500

48.3%

$342,600

31.8%

$8,222,000

58.1%

BLOOMFIELD

BRISTOL 1 Family

86

22.6%

150

-3.8%

$178,600

2.0%

$190,100

1.7%

$28,519,000

-2.2%

Condo

104

50.9%

25

0.0%

$100,000

1.0%

$109,600

-1.8%

$2,740,000

-1.8%

1 Family

80

-9.1%

30

-34.8%

$321,300

0.2%

$336,600

2.7%

$10,097,000

-33.0%

Condo

98

-20.5%

1

-66.7%

$140,000

5.3%

$140,000

9.7%

$140,000

-63.4%

BURLINGTON

CANTON 1 Family

85

47.2%

37

-17.8%

$310,000

-2.5%

$361,700

-6.0%

$13,382,000

-22.7%

Condo

60

-43.9%

9

-10.0%

$312,500

97.2%

$273,100

41.0%

$2,458,000

26.9%

1 Family

59

9.2%

25

38.9%

$300,000

5.3%

$288,800

2.3%

$7,221,000

42.0%

Condo

92

74.6%

5

66.7%

$146,300

33.0%

$202,400

14.3%

$1,012,000

90.5%

1 Family

62

-19.1%

123

-6.8%

$140,000

2.9%

$135,800

0.6%

$16,698,000

-6.3%

Condo

79

-37.8%

14

40.0%

$59,600

-16.0%

$71,000

-33.4%

$994,000

-6.7%

EAST GRANBY

EAST HARTFORD

EAST WINDSOR 1 Family

103

56.5%

24

-7.7%

$187,700

9.0%

$190,400

2.0%

$4,570,000

-5.8%

Condo

65

-27.4%

10

-16.7%

$174,300

-16.5%

$191,200

-10.8%

$1,912,000

-25.7%

1 Family

70

32.7%

129

31.6%

$168,000

8.4%

$175,100

7.3%

$22,590,000

41.2%

Condo

84

2.2%

31

40.9%

$129,000

-10.1%

$135,700

-15.7%

$4,207,000

18.8%

1 Family

64

-3.8%

73

19.7%

$397,000

10.3%

$422,100

-3.1%

$30,816,000

16.0%

Condo

57

0.9%

52

30.0%

$205,000

12.6%

$217,900

-7.6%

$11,333,000

20.1%

1 Family

50

8.9%

117

-4.1%

$341,000

-10.0%

$405,100

1.2%

$47,395,000

-3.0%

Condo

57

33.7%

34

17.2%

$169,100

-0.5%

$203,300

16.5%

$6,913,000

36.6%

ENFIELD

FARMINGTON

GLASTONBURY

GRANBY 1 Family

46

-18.4%

23

-17.9%

$265,000

-2.8%

$282,200

-3.7%

$6,491,000

-20.9%

Condo

65

400.0%

5

25.0%

$215,000

25.7%

$235,600

42.6%

$1,178,000

78.2%

1 Family

112

65.8%

55

-20.3%

$130,000

0.8%

$177,400

1.8%

$9,757,000

-18.9%

Condo

71

-31.9%

17

-34.6%

$58,000

-36.8%

$111,000

-21.5%

$1,886,000

-48.7%

1 Family

17

-30.6%

1

-50.0%

$270,000

-4.4%

$270,000

-4.4%

$270,000

-52.2%

Condo

-

-

-

-

-

-

-

-

-

-

HARTFORD

HARTLAND

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ct market report • 15


Hartford County

Q3-2014

Days on Market

Sales qtr 3 %chg 2014 13-14

qtr 3 2014

%chg 13-14

1 Family

59

5.7%

143

Condo

93

-3.1%

1 Family

80

Condo

64

1 Family Condo

Median Sales Price

Average Sales Price qtr 3 %chg 2014 13-14

Dollar Volume qtr 3 %chg 2014 13-14

qtr 3 2014

%chg 13-14

-10.1%

$162,500

-2.7%

$186,900

-0.6%

$26,731,000

-10.6%

40

48.1%

$116,100

-10.6%

$122,900

-3.7%

$4,916,000

42.7%

-16.6%

19

-9.5%

$275,000

13.6%

$283,600

5.9%

$5,388,000

-4.2%

-

1

-

$215,000

-

$215,000

-

$215,000

-

40

-37.2%

73

-21.5%

$140,000

12.0%

$139,600

15.7%

$10,192,000

-9.2%

68

-22.4%

18

0.0%

$72,500

-31.3%

$80,600

-29.3%

$1,450,000

-29.3%

MANCHESTER

MARLBOROUGH

NEW BRITAIN

NEWINGTON 1 Family

56

18.0%

73

5.8%

$220,000

-2.7%

$222,400

-6.9%

$16,236,000

-1.5%

Condo

57

-28.7%

24

-42.9%

$144,500

1.2%

$160,100

-3.1%

$3,843,000

-44.6%

PLAINVILLE 1 Family

77

34.5%

45

-15.1%

$175,000

-15.5%

$187,200

-6.2%

$8,425,000

-20.4%

Condo

50

-41.8%

11

-50.0%

$128,000

68.4%

$127,800

26.3%

$1,406,000

-36.9%

1 Family

53

-3.8%

32

-8.6%

$304,300

10.6%

$331,900

11.9%

$10,620,000

2.3%

Condo

46

-6.6%

29

3.6%

$139,000

-17.1%

$146,300

-7.7%

$4,242,000

-4.4%

1 Family

46

-8.1%

76

-14.6%

$327,000

-0.6%

$372,800

-0.9%

$28,333,000

-15.3%

Condo

71

18.1%

16

128.6%

$208,500

12.7%

$235,600

26.4%

$3,770,000

188.9%

1 Family

57

31.0%

72

-2.7%

$277,500

3.1%

$293,800

0.1%

$21,153,000

-2.6%

Condo

94

44.8%

23

-4.2%

$118,500

3.0%

$140,000

0.8%

$3,219,000

-3.4%

ROCKY HILL

SIMSBURY

SOUTH WINDSOR

SOUTHINGTON 1 Family

63

-0.9%

127

8.5%

$274,500

-0.1%

$284,500

0.6%

$36,137,000

9.2%

Condo

70

-36.3%

32

-15.8%

$146,900

-23.7%

$164,700

-14.4%

$5,271,000

-27.9%

1 Family

94

45.9%

40

-4.8%

$330,000

15.2%

$344,100

5.0%

$13,763,000

0.0%

Condo

81

-10.5%

11

10.0%

$160,000

-2.4%

$186,500

-4.7%

$2,052,000

4.9%

SUFFIELD

WEST HARTFORD 1 Family

47

-0.7%

229

0.9%

$322,000

5.6%

$367,300

5.2%

$84,113,000

6.1%

Condo

72

-24.9%

34

-29.2%

$252,500

12.2%

$270,500

1.7%

$9,197,000

-28.0%

WETHERSFIELD 1 Family

50

12.9%

94

25.3%

$211,700

-8.9%

$226,900

-8.0%

$21,333,000

15.4%

Condo

45

-36.3%

24

60.0%

$146,500

39.6%

$141,300

5.7%

$3,392,000

69.1%

1 Family

76

15.9%

84

18.3%

$204,500

-9.1%

$204,900

-9.8%

$17,209,000

6.8%

Condo

98

-15.3%

16

-33.3%

$196,300

-7.6%

$196,000

5.5%

$3,136,000

-29.7%

WINDSOR

WINDSOR LOCKS 1 Family

53

-3.8%

35

29.6%

$160,000

0.1%

$174,300

0.2%

$6,100,000

29.9%

Condo

83

-54.6%

6

-45.5%

$251,300

81.7%

$230,200

37.9%

$1,381,000

-24.8%

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ct market report • 16


Litchfield County

New Hartford • www.EdwardChapinHome.com

LITCHFIELD

WINDHAM HARTFORD

TOLLAND

MIDDLESEX

NEW LONDON

NEW HAVEN FAIRFIELD

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ct market report • 17


Litchfield County

Q3-2014

The number of single family homes in Litchfield County increased year over year yet prices decreased an average of 16.2% in the third quarter. Similarly to the second quarter of 2014, there was an increase in demand for condominiums with the average price increasing by 8.2% to $159,300 and days on market decreasing 33.6% to 99 days. Average rental prices decreased by 16.2% year over year.

Average AND and median sales pricePRICE AVERAGE MEDIAN SALES Average Single Family

Average Condominium

Median Single Family

Median Condominium

300000 400000 350000 250000 300000 200000 250000 150000 200000 150000 100000 100000 50000 50000 0 Q3 2012

Q4 2012

Number of Sales

Q1 2013

Q2 2013

Days on Q3 2013 Market

Q3 2014

545

119

Q2 2014

455

127

Q1 2014

315

158

Q4 2013

473

Single Family 137 Condominium

Q3 2013

535

133

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Q3 2013

Q4 2013

Q1 2014

Q2 2014

Q3 2014

single family and condo ratio 2013 Q3Q32013

Single Family

Condominium Single Family

Q3 2014 Q3 2014

Single Family Condominium Condominiums

ct market report • 18

Q3

Single Fam


Litchfield County

Q3-2014

Days on Market

Sales qtr 3 %chg 2014 13-14

qtr 3 2014

%chg 13-14

1 Family

511

195.1%

2

Condo

-

-

1 Family

104

Condo

-

1 Family Condo

Median Sales Price

Average Sales Price qtr 3 %chg 2014 13-14

Dollar Volume qtr 3 %chg 2014 13-14

qtr 3 2014

%chg 13-14

-50.0%

$1,117,500

403.7%

$1,117,500

279.4%

$2,235,000

89.7%

-

-

-

-

-

-

-

-

0.0%

12

9.1%

$220,000

12.8%

$240,200

15.7%

$2,882,000

26.3%

-

-

-

-

-

-

-

-

-

256

365.5%

5

-37.5%

$352,500

35.6%

$332,500

32.9%

$1,663,000

-16.9%

-

-

-

-

-

-

-

-

-

-

1 Family

312

24.4%

7

-30.0%

$380,000

-35.3%

$455,600

-22.3%

$3,189,000

-45.6%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

89

-27.0%

11

0.0%

$162,900

-4.2%

$193,900

0.2%

$2,132,000

0.2%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

52

-40.9%

5

25.0%

$237,000

19.4%

$278,400

33.2%

$1,392,000

66.5%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

79

-

1

-

$500,000

-

$500,000

-

$500,000

-

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

255

-37.2%

2

0.0%

$244,600

-57.6%

$244,600

-57.6%

$489,000

-57.6%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

70

125.8%

1

0.0%

$171,000

6.9%

$171,000

6.9%

$171,000

6.9%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

200

3.2%

9

-43.7%

$280,000

-16.2%

$276,900

-34.5%

$2,492,000

-63.2%

Condo

63

-

1

-

$287,000

-

$287,000

-

$287,000

-

BANTAM

BARKHAMSTED

BETHLEHEM

BRIDGEWATER

CANAAN

COLEBROOK

CORNWALL

CORNWALL BRIDGE

EAST CANAAN

GOSHEN

HARWINTON 1 Family

64

-58.3%

11

-38.9%

$239,000

3.0%

$261,500

11.7%

$2,876,000

-31.7%

Condo

3

-99.8%

1

-50.0%

$303,900

-2.5%

$303,900

-2.5%

$304,000

-51.3%

1 Family

150

-45.8%

5

-44.4%

$289,000

3.2%

$436,900

-18.7%

$2,185,000

-54.8%

Condo

103

-39.3%

2

-50.0%

$153,800

-3.9%

$153,800

4.2%

$308,000

-47.9%

KENT

LITCHFIELD 1 Family

191

1.8%

20

-4.8%

$301,400

-8.7%

$353,800

-27.8%

$7,077,000

-31.2%

Condo

218

84.5%

6

0.0%

$320,000

-2.0%

$326,000

7.3%

$1,956,000

7.3%

1 Family

78

-65.9%

14

133.3%

$333,300

-15.1%

$383,400

-20.5%

$5,368,000

85.4%

Condo

-

-

-

-

-

-

-

-

-

-

MORRIS

NEW HARTFORD 1 Family

85

-19.7%

23

0.0%

$248,000

-6.4%

$256,400

-17.6%

$5,897,000

-17.6%

Condo

98

-27.4%

3

50.0%

$81,000

0.3%

$90,700

12.3%

$272,000

68.4%

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ct market report • 19


Litchfield County

Q3-2014

Days on Market

Sales qtr 3 %chg 2014 13-14

qtr 3 2014

%chg 13-14

1 Family

79

-8.3%

24

Condo

69

-12.5%

1 Family

261

Condo

-

1 Family Condo

Median Sales Price

Average Sales Price qtr 3 %chg 2014 13-14

Dollar Volume qtr 3 %chg 2014 13-14

qtr 3 2014

%chg 13-14

4.3%

$279,300

3.4%

$327,200

21.7%

$7,852,000

26.9%

7

-22.2%

$140,000

12.9%

$197,000

52.3%

$1,379,000

18.4%

75.2%

7

75.0%

$249,000

-36.6%

$278,000

-31.4%

$1,946,000

20.0%

-

-

-

-

-

-

-

-

-

91

48.3%

35

16.7%

$176,000

6.0%

$172,800

-3.6%

$6,048,000

12.5%

39

-54.7%

3

-62.5%

$86,500

-14.3%

$89,500

-16.2%

$268,000

-68.6%

1 Family

306

-34.7%

9

-10.0%

$575,000

2.1%

$624,700

-12.7%

$5,623,000

-21.4%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

65

-61.4%

5

-58.3%

$350,000

-41.5%

$459,700

-67.1%

$2,299,000

-86.3%

Condo

122

-

1

-

$430,000

-

$430,000

-

$430,000

-

1 Family

505

149.1%

4

100.0%

$2,425,000

491.5%

$2,825,600

589.2%

$11,303,000

1278.4%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

93

21.5%

19

5.6%

$200,000

6.5%

$181,000

-8.9%

$3,440,000

-3.8%

Condo

136

81.1%

4

33.3%

$105,000

15.4%

$137,200

56.5%

$549,000

108.7%

1 Family

82

-26.0%

92

1.1%

$137,300

-8.5%

$141,400

-6.3%

$13,006,000

-5.3%

Condo

74

-48.0%

14

-33.3%

$87,500

-12.5%

$92,500

-17.0%

$1,294,000

-44.7%

1 Family

175

-55.0%

4

-33.3%

$573,500

-32.9%

$506,100

-67.6%

$2,025,000

-78.4%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

233

-24.7%

12

-14.3%

$772,500

37.3%

$838,100

-30.3%

$10,058,000

-40.2%

Condo

11

-89.6%

1

0.0%

$400,000

100.0%

$400,000

100.0%

$400,000

100.0%

1 Family

80

50.3%

63

40.0%

$212,500

15.5%

$227,300

18.3%

$14,318,000

65.6%

Condo

85

1.3%

6

-40.0%

$159,500

-18.6%

$154,300

-20.7%

$926,000

-52.4%

1 Family

104

5.3%

36

16.1%

$124,000

-23.8%

$167,600

-18.9%

$6,035,000

-5.8%

Condo

3

-92.9%

1

0.0%

$80,000

-23.8%

$80,000

-23.8%

$80,000

-23.8%

1 Family

188

379.9%

19

72.7%

$280,000

-6.4%

$370,800

23.6%

$7,046,000

113.4%

Condo

121

268.4%

12

100.0%

$100,800

-4.3%

$118,500

-6.3%

$1,422,000

87.3%

NEW MILFORD

NORFOLK

PLYMOUTH

ROXBURY

SALISBURY

SHARON

THOMASTON

TORRINGTON

WARREN

WASHINGTON

WATERTOWN

WINCHESTER

WOODBURY

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ct market report • 20


Connecticut Market Overview

Q3-2014

Middlesex County

Westbrook • www.262OldKelseyPointRd.bhhsNEproperties.com

LITCHFIELD

WINDHAM HARTFORD

TOLLAND

MIDDLESEX

NEW LONDON

NEW HAVEN FAIRFIELD

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ct market report • 21


Middlesex County

Q3-2014

Middlesex County saw an increase both in sales volume and number of sales this quarter. Total dollar volume increased 13.3% to $146,821,000 year over year. The average sales price of single family homes was $307,800, down 1.4% and the average for condominiums was $169,200, up 1.0%. Average rental prices remained flat with last quarter at $1,430 per month.

Average and median sales price

AVERAGE AND MEDIAN SALES PRICE Average Single Family

Average Condominium

Median Single Family

Median Condominium

400000 300000 350000 350000 300000 250000 300000 250000 200000 250000 200000 200000 150000 150000 150000 100000 100000 100000

50000 50000 50000 0 Q3 2012

Q4 2012

Q1 2013

Q2 2013

Number of Sales

Days on Q3 2013 Market

Q3 2014

545 587

119 79

Q2 2014

455 532

127 90

Q1 2014

355 315

108 158

Q4 2013

473 421

Q3 2013

527 535

Single Family 137 93 Condominium

Q3 2013

Q4 2013

Q1 2014

Q2 2014

Q3 2014

single family and condo ratio 2013 Q3Q32013

Single Family

Condominium Single Family

Q3 2014 Q3 2014

Single Family Condominiums

Condominium

133 76

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ct market report • 22

Q

Single Fam


Middlesex County

Q3-2014

Days on Market

Sales qtr 3 %chg 2014 13-14

qtr 3 2014

%chg 13-14

1 Family

147

64.5%

12

Condo

133

-

3

Median Sales Price qtr 3 2014

%chg 13-14

Average Sales Price qtr 3 %chg 2014 13-14

Dollar Volume qtr 3 %chg 2014 13-14

-7.7%

$293,000

-12.5%

$323,000

-3.0%

$3,876,000

-10.4%

-

$309,000

-

$309,100

-

$927,000

-

CHESTER

CLINTON 1 Family

97

-6.4%

42

20.0%

$241,400

0.6%

$278,800

12.2%

$11,709,000

34.7%

Condo

131

56.6%

6

-14.3%

$80,500

-51.2%

$81,600

-44.8%

$490,000

-52.7%

1 Family

52

-19.3%

23

-4.2%

$253,000

2.3%

$310,700

10.5%

$7,146,000

5.9%

Condo

55

-26.1%

31

0.0%

$134,000

24.1%

$165,700

21.6%

$5,136,000

21.6%

CROMWELL

DEEP RIVER 1 Family

108

153.9%

13

30.0%

$220,000

-15.9%

$231,300

-59.1%

$3,007,000

-46.8%

Condo

9

-89.2%

2

0.0%

$140,000

-5.1%

$140,000

-5.1%

$280,000

-5.1%

DURHAM 1 Family

68

-6.6%

18

-10.0%

$286,500

-10.5%

$319,900

-4.0%

$5,758,000

-13.6%

Condo

44

-79.1%

1

-50.0%

$97,000

-44.0%

$97,000

-44.0%

$97,000

-72.0%

1 Family

62

0.5%

31

-3.1%

$222,500

-16.0%

$213,300

-25.9%

$6,614,000

-28.2%

Condo

212

1410.7%

2

100.0%

$177,500

42.0%

$177,500

42.0%

$355,000

184.0%

1 Family

97

74.8%

43

30.3%

$253,000

-8.0%

$271,500

2.0%

$11,676,000

32.9%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

113

78.3%

28

64.7%

$372,500

-15.0%

$546,000

-11.9%

$15,289,000

45.1%

Condo

78

-63.4%

6

0.0%

$221,500

-3.7%

$205,000

-2.7%

$1,230,000

-2.7%

1 Family

64

-18.1%

27

8.0%

$265,000

-19.0%

$287,100

-5.3%

$7,751,000

2.2%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

80

11.2%

24

33.3%

$358,300

21.9%

$375,200

32.4%

$9,004,000

76.5%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

87

11.3%

11

83.3%

$240,000

24.7%

$243,800

6.1%

$2,682,000

94.5%

Condo

357

-

1

-

$449,100

-

$449,100

-

$449,000

-

1 Family

62

10.4%

98

14.0%

$208,000

-5.5%

$212,300

-11.1%

$20,806,000

1.3%

Condo

98

14.6%

28

-6.7%

$113,500

-5.0%

$115,800

-18.2%

$3,243,000

-23.6%

EAST HADDAM

EAST HAMPTON

ESSEX

HADDAM

KILLINGWORTH

MIDDLEFIELD

MIDDLETOWN

OLD SAYBROOK 1 Family

76

31.9%

59

25.5%

$348,500

5.0%

$482,500

27.0%

$28,467,000

59.4%

Condo

147

26.3%

7

-22.2%

$335,000

11.7%

$324,300

8.8%

$2,270,000

-15.4%

1 Family

57

-12.9%

26

-7.1%

$247,000

-13.1%

$255,300

-9.6%

$6,639,000

-16.0%

Condo

72

34.6%

6

50.0%

$175,000

-0.5%

$169,200

-18.2%

$1,015,000

22.7%

1 Family

70

-63.7%

22

4.8%

$264,200

-24.5%

$290,800

-28.6%

$6,398,000

-25.2%

Condo

305

824.2%

1

-50.0%

$415,900

15.0%

$415,900

15.0%

$416,000

-42.5%

PORTLAND

WESTBROOK

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ct market report • 23


New Haven County

North Haven • www.5000RidgeRd.bhhsNEproperties.com

LITCHFIELD

WINDHAM HARTFORD

TOLLAND

MIDDLESEX

NEW LONDON

NEW HAVEN FAIRFIELD

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ct market report • 24


New Haven County

Q3-2014

New Haven County’s average days on market continued to decline along with both single family home and condominium pricing. Total dollar volume in sales reached $443,287,000, down 7.1% for single families and $79,558,000, down 1.3% for condominiums. The average sale price of single family homes was $267,000, down 3.3%, and the average for condominiums was $165,400, down 2.4%. Rental prices showed a 2.8% increase year over year, averaging $1,530 per month.

AVERAGE MEDIAN SALES Average AND and median sales pricePRICE Average Single Family

Average Condominium

Median Single Family

Median Condominium

300000 250000 200000 150000 100000 50000 0 Q3 2012

Q4 2012

Q1 2013

Q2 2013

Number of Sales

Days on Q3 2013 Market

Q3 2014

960

87

Q2 2014

856

92

Q1 2014

526

105

Q4 2013

789

Q3 2013

967

96

Single Family

Condominium

Q3 2013

Q4 2013

Q1 2014

Q2 2014

Q3 2014

single family and condo ratio Q32013 2013 Q3

Single Family

Q3 2014 2014 Q3

Condominium Single Family Single Family Condominiums

Condominium

94

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ct market report • 25

Q

Single Fa


New Haven County Days on Market

Q3-2014 Sales qtr 3 %chg 2014 13-14

qtr 3 2014

%chg 13-14

1 Family

103

-31.8%

21

Condo

-

-

Median Sales Price

Average Sales Price qtr 3 %chg 2014 13-14

Dollar Volume qtr 3 %chg 2014 13-14

qtr 3 2014

%chg 13-14

-25.0%

$179,000

-1.9%

$177,300

-3.3%

$3,724,000

-27.5%

-

-

-

-

-

-

-

-

ANSONIA

BEACON FALLS 1 Family

173

26.7%

14

100.0%

$252,000

-2.7%

$214,800

-4.6%

$3,007,000

90.7%

Condo

149

-50.1%

1

-50.0%

$370,000

48.0%

$370,000

48.0%

$370,000

-26.0%

1 Family

71

43.1%

10

-50.0%

$254,000

-30.4%

$261,700

-30.8%

$2,617,000

-65.4%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

115

29.6%

61

-3.2%

$350,000

22.8%

$396,200

10.3%

$24,166,000

6.8%

Condo

98

0.4%

45

9.8%

$165,000

4.1%

$200,400

5.7%

$9,018,000

16.0%

1 Family

59

-13.2%

78

-7.1%

$350,000

11.1%

$385,700

9.2%

$30,081,000

1.4%

Condo

109

0.3%

14

-22.2%

$155,000

-3.1%

$189,700

-0.1%

$2,656,000

-22.3%

1 Family

101

-3.9%

11

-35.3%

$160,500

25.4%

$174,200

11.5%

$1,916,000

-27.9%

Condo

90

8.8%

6

-40.0%

$100,000

-16.7%

$97,800

-9.5%

$587,000

-45.7%

1 Family

85

22.6%

62

10.7%

$175,000

3.9%

$180,000

1.5%

$11,159,000

12.4%

Condo

91

-16.8%

18

5.9%

$116,800

-0.2%

$122,400

-14.0%

$2,204,000

-8.9%

1 Family

88

18.4%

84

0.0%

$372,000

-7.0%

$429,900

-0.3%

$36,110,000

-0.3%

Condo

157

228.5%

11

-31.2%

$218,000

13.7%

$287,300

7.6%

$3,160,000

-26.0%

BETHANY

BRANFORD

CHESHIRE

DERBY

EAST HAVEN

GUILFORD

HAMDEN 1 Family

74

-6.0%

129

-5.1%

$215,900

2.8%

$223,500

-5.7%

$28,831,000

-10.6%

Condo

88

-32.6%

42

-6.7%

$92,500

-33.0%

$110,800

-22.2%

$4,654,000

-27.4%

1 Family

84

-28.9%

74

-18.7%

$437,500

5.4%

$514,600

2.7%

$38,080,000

-16.5%

Condo

46

-62.3%

10

-16.7%

$279,500

-11.3%

$368,000

-3.0%

$3,680,000

-19.1%

MADISON

MERIDEN 1 Family

71

-1.2%

115

15.0%

$146,000

-18.4%

$151,800

-8.7%

$17,458,000

5.0%

Condo

75

-8.3%

26

-18.7%

$78,400

-30.3%

$82,000

-27.7%

$2,133,000

-41.3%

1 Family

99

23.5%

23

-8.0%

$325,000

25.0%

$335,300

18.7%

$7,713,000

9.2%

Condo

18

-45.1%

7

250.0%

$425,100

-5.0%

$443,400

-0.9%

$3,103,000

246.8%

1 Family

75

14.9%

151

14.4%

$287,500

0.5%

$325,100

-0.6%

$49,095,000

13.7%

Condo

96

7.0%

50

31.6%

$185,500

-2.6%

$217,900

3.6%

$10,895,000

36.3%

1 Family

76

-13.7%

63

-10.0%

$150,000

-6.7%

$162,300

-1.8%

$10,224,000

-11.6%

Condo

98

26.0%

8

-42.9%

$71,800

15.9%

$79,300

12.4%

$634,000

-35.8%

MIDDLEBURY

MILFORD

NAUGATUCK

NEW HAVEN 1 Family

90

5.6%

72

-37.4%

$185,000

-7.5%

$214,700

-10.0%

$15,459,000

-43.7%

Condo

93

22.1%

46

-9.8%

$127,500

-21.8%

$165,500

-5.6%

$7,613,000

-14.8%

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ct market report • 26


New Haven County Days on Market qtr 3 2014

%chg 13-14

Q3-2014 Sales qtr 3 %chg 2014 13-14

Median Sales Price qtr 3 2014

%chg 13-14

Average Sales Price qtr 3 %chg 2014 13-14

Dollar Volume qtr 3 %chg 2014 13-14

NORTH BRANFORD 1 Family

68

-1.4%

36

20.0%

$275,000

-10.6%

$285,700

-7.7%

$10,285,000

10.8%

Condo

99

59.6%

6

20.0%

$142,000

-14.0%

$170,600

8.6%

$1,023,000

30.4%

NORTH HAVEN 1 Family

61

-13.9%

66

3.1%

$266,500

0.6%

$295,700

11.7%

$19,518,000

15.2%

Condo

103

-30.2%

9

12.5%

$219,000

30.7%

$224,800

28.1%

$2,023,000

44.1%

1 Family

45

-0.6%

42

0.0%

$342,000

-9.9%

$390,100

0.2%

$16,385,000

0.2%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

130

-10.3%

33

-15.4%

$365,000

4.3%

$363,800

-5.3%

$12,005,000

-19.9%

Condo

143

-29.1%

9

12.5%

$335,000

-13.8%

$362,800

-7.3%

$3,265,000

4.3%

1 Family

103

41.8%

21

-4.5%

$293,500

15.2%

$314,900

11.6%

$6,613,000

6.5%

Condo

59

-17.5%

3

50.0%

$220,000

-30.2%

$259,600

-17.6%

$779,000

23.6%

ORANGE

OXFORD

PROSPECT

SEYMOUR 1 Family

149

-17.4%

28

-6.7%

$219,000

-4.4%

$224,600

-15.5%

$6,290,000

-21.1%

Condo

151

-29.5%

7

0.0%

$98,000

-63.7%

$106,900

-50.6%

$748,000

-50.6%

1 Family

93

-18.8%

37

-28.8%

$320,000

-19.9%

$330,300

-20.1%

$12,220,000

-43.2%

Condo

68

-53.2%

55

0.0%

$100,000

-18.7%

$124,700

-11.9%

$6,858,000

-11.9%

1 Family

64

-23.2%

92

-7.1%

$253,300

1.3%

$272,600

2.2%

$25,084,000

-5.0%

Condo

104

-7.4%

36

24.1%

$172,500

-13.8%

$207,700

-9.5%

$7,476,000

12.3%

1 Family

75

-26.9%

173

17.7%

$88,100

-5.3%

$97,200

-3.7%

$16,810,000

13.4%

Condo

51

-47.1%

44

12.8%

$70,100

13.1%

$72,100

4.1%

$3,171,000

17.5%

1 Family

66

4.1%

96

-3.0%

$155,500

-0.5%

$165,800

-3.1%

$15,919,000

-6.0%

Condo

62

73.4%

24

33.3%

$128,800

30.5%

$124,000

4.1%

$2,975,000

38.8%

SOUTHBURY

WALLINGFORD

WATERBURY

WEST HAVEN

WOLCOTT 1 Family

69

18.1%

32

-15.8%

$204,800

5.5%

$226,700

-1.0%

$7,255,000

-16.6%

Condo

88

82.8%

4

0.0%

$142,500

9.7%

$133,000

1.0%

$532,000

1.0%

1 Family

82

-7.7%

36

-7.7%

$410,800

2.7%

$424,000

-8.4%

$15,263,000

-15.4%

Condo

-

-

-

-

-

-

-

-

-

-

WOODBRIDGE

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ct market report • 27


New London County

Groton • www.160ShoreAve.bhhsNEproperties.com

LITCHFIELD

WINDHAM HARTFORD

TOLLAND

MIDDLESEX

NEW LONDON

NEW HAVEN FAIRFIELD

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ct market report • 28


New London County

Q3-2014

New London County single family home sales increased 4.6% year over year with sales volume reaching $177,613,000. The average sale price of single family homes was $249,800, down 2.8%, and the average for condominiums was $140,600, down 25.4%. With the price reductions offered on condominiums, total sales increased by 19.8% with days on market dropping 13.1% to 120 days. Average rental prices remained flat when compared to second quarter at $1,393 per month.

Average and median sales price AVERAGE AND MEDIAN SALES PRICE Average Single Family

Average Condominium

Median Single Family

Median Condominium

300000 250000 200000 150000 100000 50000 0 Q3 2012

Q4 2012

Q1 2013

Q2 2013

Number of Sales

Days on Market Q3 2013

Q3 2014

249

91

Q2 2014

229

100

Q1 2014

145

112

Q4 2013

185

Q3 2013

231

102

Single Family

Condominium

Q3 2013

Q4 2013

Q1 2014

Q2 2014

Q3 2014

single family and condo ratio Q3 2013 2013 Q3

Single Family

Q3 2014 Q3 2014

Condominium Single Family Condominiums

Single Family

Condominium

100

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ct market report • 29

Q

Single F


New London County Days on Market

Q3-2014 Sales qtr 3 %chg 2014 13-14

qtr 3 2014

%chg 13-14

1 Family

117

67.7%

3

Condo

-

-

-

Median Sales Price

Average Sales Price qtr 3 %chg 2014 13-14

Dollar Volume qtr 3 %chg 2014 13-14

qtr 3 2014

%chg 13-14

-25.0%

$215,000

72.0%

$171,000

44.0%

$513,000

8.0%

-

-

-

-

-

-

-

BOZRAH

COLCHESTER 1 Family

89

-17.5%

47

6.8%

$212,500

-16.1%

$218,100

-11.2%

$10,251,000

-5.2%

Condo

154

-74.4%

1

-80.0%

$170,000

-41.4%

$170,000

-24.3%

$170,000

-84.9%

1 Family

72

-13.2%

77

14.9%

$273,000

-1.8%

$311,500

-8.6%

$23,987,000

5.0%

Condo

56

-23.4%

13

8.3%

$199,000

-19.6%

$209,600

-16.3%

$2,725,000

-9.3%

EAST LYME

GRISWOLD 1 Family

63

-22.3%

30

-9.1%

$156,800

-5.6%

$173,400

-24.1%

$5,201,000

-31.0%

Condo

64

-46.6%

3

50.0%

$29,500

-69.6%

$48,200

-50.3%

$145,000

-25.5%

1 Family

124

8.4%

49

0.0%

$185,000

-20.6%

$257,800

-11.1%

$12,633,000

-11.1%

Condo

93

-29.8%

20

11.1%

$120,300

3.3%

$122,800

-1.8%

$2,457,000

9.2%

1 Family

101

-17.0%

21

0.0%

$259,000

32.8%

$245,600

21.1%

$5,157,000

21.1%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

63

-14.4%

49

-2.0%

$225,000

-2.2%

$212,300

-3.9%

$10,401,000

-5.9%

Condo

83

241.1%

3

0.0%

$88,000

46.7%

$92,000

64.3%

$276,000

64.3%

1 Family

112

143.8%

14

27.3%

$216,000

27.1%

$206,600

21.1%

$2,892,000

54.2%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

113

-82.1%

3

50.0%

$790,000

-9.5%

$968,300

11.0%

$2,905,000

66.5%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

84

4.2%

51

21.4%

$162,000

-13.6%

$160,400

-18.3%

$8,181,000

-0.8%

Condo

70

-54.5%

5

66.7%

$35,000

-24.2%

$33,100

-48.6%

$165,000

-14.3%

1 Family

124

82.4%

30

-26.8%

$343,300

34.6%

$353,900

17.7%

$10,617,000

-13.9%

Condo

108

36.8%

7

133.3%

$355,000

-21.1%

$394,600

-12.4%

$2,762,000

104.4%

1 Family

121

56.2%

28

-12.5%

$170,500

0.9%

$195,300

7.6%

$5,468,000

-5.9%

Condo

188

176.3%

10

-9.1%

$104,500

-49.6%

$134,800

-44.6%

$1,348,000

-49.7%

1 Family

13

-83.8%

3

-62.5%

$239,900

19.6%

$229,600

-6.0%

$689,000

-64.8%

Condo

-

-

-

-

-

-

-

-

-

-

GROTON

LEBANON

LEDYARD

LISBON

LYME

MONTVILLE

MYSTIC

NEW LONDON

NORTH FRANKLIN

NORTH STONINGTON 1 Family

117

-16.1%

16

23.1%

$222,500

-2.8%

$213,200

-18.3%

$3,412,000

0.5%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

68

-39.4%

75

2.7%

$110,000

-1.8%

$116,200

-7.2%

$8,714,000

-4.7%

Condo

183

157.9%

29

190.0%

$91,000

19.0%

$92,800

2.4%

$2,690,000

196.9%

NORWICH

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ct market report • 30


New London County Days on Market

Q3-2014 Sales qtr 3 %chg 2014 13-14

qtr 3 2014

%chg 13-14

1 Family

113

57.4%

44

Condo

83

-75.1%

1 Family

54

Condo

-

1 Family Condo

Median Sales Price

Average Sales Price qtr 3 %chg 2014 13-14

Dollar Volume qtr 3 %chg 2014 13-14

qtr 3 2014

%chg 13-14

63.0%

$332,500

-8.9%

$414,000

4.0%

$18,218,000

69.5%

1

0.0%

$245,000

-24.6%

$245,000

-24.6%

$245,000

-24.6%

-68.0%

12

-14.3%

$229,000

7.3%

$221,600

0.4%

$2,659,000

-13.9%

-

-

-

-

-

-

-

-

-

128

83.4%

8

-33.3%

$265,000

-1.7%

$234,200

-15.4%

$1,873,000

-43.6%

34

-80.6%

4

33.3%

$26,000

-7.1%

$46,500

51.5%

$186,000

102.0%

1 Family

140

-6.0%

8

14.3%

$205,000

93.4%

$187,600

64.1%

$1,501,000

87.5%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

86

-4.4%

46

-16.4%

$229,000

-29.5%

$371,300

-15.3%

$17,079,000

-29.2%

Condo

123

-23.3%

2

-50.0%

$305,500

-48.0%

$305,500

-46.4%

$611,000

-73.2%

1 Family

94

133.2%

8

100.0%

$172,500

-22.5%

$166,600

-24.5%

$1,333,000

51.0%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

77

20.4%

89

25.4%

$250,000

13.6%

$268,900

18.9%

$23,929,000

49.0%

Condo

79

3.4%

5

-50.0%

$108,900

-16.9%

$140,900

-11.5%

$704,000

-55.7%

OLD LYME

PRESTON

SALEM

SPRAGUE

STONINGTON

VOLUNTOWN

WATERFORD

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ct market report • 31


Tolland County

Mansfield • www.794WarrenvilleRd.bhhsNEproperties.com

LITCHFIELD

WINDHAM HARTFORD

TOLLAND

MIDDLESEX

NEW LONDON

NEW HAVEN FAIRFIELD

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ct market report • 32


Tolland County

Q3-2014

Tolland County continued to see sales growth this quarter with single family home sales volume reaching $99,157,000, a 5.1% increase year over year. The average sale price of single family homes was $241,300, down 0.3%, and the average for condominiums was $173,100, up 0.2%. Days on market dropped when compared to last quarter to 72 days on average for all home types. Average rental prices remained flat quarter over quarter at $1,366.

Average and median sales price AVERAGE AND MEDIAN SALES PRICE Average Single Family

Average Condominium

Median Single Family

Median Condominium

300000 250000 200000 150000 100000 50000 0 Q3 2012

Q4 2012

Number of Sales

Q1 2013

Q2 2013

Days on Q3 2013 Market

Q3 2014

242 249

72 91

Q2 2014

198 229

89 100

Q1 2014

139 145

111 112

Q4 2013

176 185

Single Family 92 102

Q3 2013

234 231

76 100

Condominium

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Q3 2013

Q4 2013

Q1 2014

Q2 2014

Q3 2014

single family and condo ratio 2013 Q3Q32013

Single Family

Q3 2014 Q3 2014

Condominium Single Family Condominiums

Single Family

Condominium

ct market report • 33

Q

Single F


Tolland County

Q3-2014

Days on Market

Sales qtr 3 %chg 2014 13-14

qtr 3 2014

%chg 13-14

1 Family

61

-20.7%

15

Condo

-

-

1 Family

89

Condo

-

1 Family Condo

Median Sales Price

Average Sales Price qtr 3 %chg 2014 13-14

Dollar Volume qtr 3 %chg 2014 13-14

qtr 3 2014

%chg 13-14

0.0%

$262,500

-1.9%

$281,000

-7.8%

$4,215,000

-7.8%

-

-

-

-

-

-

-

-

-49.1%

9

50.0%

$239,900

17.0%

$247,300

40.1%

$2,226,000

110.2%

-

-

-

-

-

-

-

-

-

62

14.5%

21

40.0%

$247,000

6.0%

$272,800

6.3%

$5,728,000

48.8%

-

-

-

-

-

-

-

-

-

-

1 Family

63

11.4%

17

-34.6%

$262,500

17.4%

$248,200

-5.0%

$4,220,000

-37.9%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

95

64.4%

54

12.5%

$171,000

-12.8%

$179,100

-15.9%

$9,669,000

-5.4%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

52

-12.0%

40

-7.0%

$288,300

10.9%

$335,700

13.7%

$13,430,000

5.7%

Condo

55

6.0%

12

140.0%

$178,300

56.4%

$200,400

54.7%

$2,405,000

271.4%

1 Family

140

65.1%

12

-47.8%

$316,000

16.5%

$317,300

17.4%

$3,807,000

-38.7%

Condo

230

63.9%

2

0.0%

$217,500

2.9%

$217,500

2.9%

$435,000

2.9%

1 Family

76

25.9%

39

30.0%

$175,000

-26.8%

$208,200

-19.9%

$8,119,000

4.1%

Condo

14

-68.7%

3

-82.4%

$252,000

96.9%

$221,600

47.0%

$665,000

-74.1%

AMSTON

ANDOVER

BOLTON

COLUMBIA

COVENTRY

ELLINGTON

HEBRON

MANSFIELD

SOMERS 1 Family

78

2.1%

26

44.4%

$294,800

-3.3%

$291,500

-1.0%

$7,580,000

42.9%

Condo

56

-69.9%

3

0.0%

$380,000

12.6%

$308,500

-12.6%

$925,000

-12.6%

1 Family

78

9.2%

32

-17.9%

$177,500

-2.5%

$191,500

0.8%

$6,128,000

-17.3%

Condo

134

132.2%

3

-57.1%

$98,500

-21.2%

$91,500

-30.6%

$274,000

-70.3%

STAFFORD

TOLLAND 1 Family

63

-7.9%

57

26.7%

$264,000

-3.6%

$290,800

5.6%

$16,577,000

33.8%

Condo

15

-79.5%

3

-40.0%

$147,000

-45.4%

$129,000

-52.9%

$387,000

-71.7%

1 Family

271

672.9%

2

100.0%

$259,500

-2.1%

$259,500

-2.1%

$519,000

95.8%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

64

-12.0%

70

-1.4%

$192,500

-1.3%

$189,600

-0.9%

$13,269,000

-2.3%

Condo

91

50.4%

26

44.4%

$138,000

-3.5%

$152,100

-6.9%

$3,956,000

34.5%

1 Family

55

-14.3%

17

70.0%

$207,000

-10.1%

$215,900

-3.0%

$3,670,000

64.9%

Condo

30

-

1

-

$130,000

-

$130,000

-

$130,000

-

UNION

VERNON

WILLINGTON

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ct market report • 34


Windham County

Pomfret • www.202SearlesRd.bhhsNEproperties.com

LITCHFIELD

WINDHAM HARTFORD

TOLLAND

MIDDLESEX

NEW LONDON

NEW HAVEN FAIRFIELD

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ct market report • 35


Windham County

Q3-2014

Windham County saw the biggest gains in single family home sales when compared to the rest of the state. Total dollar volume in sales increased 24.7% year over year reaching $56,573,000. Average prices of single family homes was $174,600, up 3.1%, and the average for condominiums was $140,300, up 4.8%. Average rental prices remained flat year over year at $1,210 per month.

Average and median sales price

AVERAGE AND MEDIAN SALES PRICE Average Single Family

Average Condominium

Median Single Family

Median Condominium

200000 180000 160000 140000 120000 100000 80000 60000 40000 20000 0 Q3 2012

Q4 2012

Q1 2013

Q2 2013

Number of Sales

Days on Q3 2013 Market

Q3 2014

112

87

Q2 2014

110

98

Q1 2014

70

97

Q4 2013

92

Q3 2013

98

107

Single Family

Condominium

Q3 2013

Q4 2013

Q1 2014

Q2 2014

Q3 2014

single family and condo ratio 2013 Q3Q32013

Single Family

Condominium Single Family

Q3 2014 Q3 2014

Single Family Condominiums

Condominium

88

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ct market report • 36

Q

Single Fa


Windham County

Q3-2014

Days on Market

Sales qtr 3 %chg 2014 13-14

qtr 3 2014

%chg 13-14

1 Family

111

88.9%

20

Condo

-

-

-

Median Sales Price

Average Sales Price qtr 3 %chg 2014 13-14

Dollar Volume qtr 3 %chg 2014 13-14

qtr 3 2014

%chg 13-14

185.7%

$186,000

-0.7%

$192,400

10.6%

$3,848,000

215.9%

-

-

-

-

-

-

-

ASHFORD

BROOKLYN 1 Family

60

-8.0%

26

13.0%

$215,000

16.2%

$209,000

14.2%

$5,433,000

29.1%

Condo

121

-86.2%

2

100.0%

$144,000

-37.1%

$144,000

-37.1%

$288,000

25.8%

1 Family

48

-51.5%

15

66.7%

$183,600

-30.2%

$168,300

-39.6%

$2,525,000

0.6%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

79

-51.5%

10

100.0%

$59,500

-69.5%

$110,900

-40.1%

$1,109,000

19.8%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

29

-66.1%

3

50.0%

$122,500

-54.6%

$131,200

-51.4%

$394,000

-27.0%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

57

-66.8%

7

-12.5%

$115,000

-30.1%

$107,900

-32.7%

$755,000

-41.1%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

77

22.3%

57

3.6%

$164,000

10.8%

$163,000

0.0%

$9,292,000

3.6%

Condo

90

-59.5%

3

-62.5%

$175,000

20.7%

$151,700

-0.4%

$455,000

-62.7%

1 Family

67

-13.0%

43

22.9%

$146,000

0.0%

$154,700

11.1%

$6,650,000

36.5%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

82

222.2%

11

120.0%

$250,000

47.1%

$313,500

52.3%

$3,448,000

235.0%

Condo

-

-

-

-

-

-

-

-

-

-

CANTERBURY

CHAPLIN

EASTFORD

HAMPTON

KILLINGLY

PLAINFIELD

POMFRET

PUTNAM 1 Family

103

-15.5%

17

6.3%

$137,000

-14.0%

$172,800

9.9%

$2,937,000

16.8%

Condo

110

114.6%

6

-25.0%

$173,000

6.6%

$138,500

-5.1%

$831,000

-28.8%

1 Family

27

-74.1%

2

0.0%

$97,000

16.9%

$97,000

16.9%

$194,000

16.9%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

71

-27.7%

8

-38.5%

$139,500

-22.5%

$156,300

-19.5%

$1,251,000

-50.4%

Condo

-

-

-

-

-

-

-

-

-

-

1 Family

72

-48.0%

30

20.0%

$174,800

5.9%

$208,400

17.8%

$6,251,000

41.4%

Condo

-

-

-

-

-

-

-

-

-

-

QUINEBAUG

STERLING

THOMPSON

WINDHAM 1 Family

109

-2.2%

46

9.5%

$126,500

9.8%

$122,900

6.8%

$5,655,000

17.0%

Condo

24

-70.4%

1

0.0%

$115,000

0.1%

$115,000

0.1%

$115,000

0.1%

1 Family

116

-8.9%

28

40.0%

$216,500

-5.6%

$240,400

-8.2%

$6,732,000

28.6%

Condo

28

-53.9%

1

-75.0%

$135,000

24.4%

$135,000

25.6%

$135,000

-68.6%

WOODSTOCK

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ct market report • 37


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