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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