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Market Report THE GOLDSPIEL TEAM
COVER: SOLD 2022 | NORTH EAST, NEW YORK | OFFERED AT $2,200,000 LEED CERTIFIED MODERN FARMHOUSE ON JUST OVER SIX ACRES WITH STUNNING DISTANT VIEWS OF THE CATSKILLS.
We would like to thank all our clients and friends for making 2021 such a success for The Goldspiel Team. Once again we ranked #1 in dollar volume for all William Pitt Sotheby’s International Realty offices in the Litchfield Hills with $48 million in total sales*. As more people discover our area and normalcy returns to our daily lives, we are confident that this will be another very active year for real estate. Looking back, the market in our area ended up with another impressive year after an unprecedented 2020. In Litchfield County although the unit sales decreased by 10%, the average sale price increased by 4%, and total dollar volume only decreased by 7%. We believe the lower dollar volume and unit sales were directly linked to diminished inventory as buyer demand remained incredibly strong. This is evidenced by bidding wars becoming more commonplace as well as shortened days on market. And right now it’s really all about inventory. After seeing levels trend downward over the course of 2021, current active listings are at historic lows. There were 1181 single family homes for sale in Litchfield County in February 2020 and only 512 in February 2022 – a 57% decrease. With less competition and high demand, it’s truly great time to sell. Contact us for a market analysis and to find out how we can help you capitalize on this surging market. -Ira & Steve *Source: SmartMLS All Property Types, Closed, 01/01/21-12/31/21. **Source: Smart MLS Single Family Home Sales 01/01/2019-12/31/2021.
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IRA GOLDSPIEL
STEVE PENER
917.626.3481 igoldspiel@williampitt.com
203.470.0393 spener@williampitt.com
LITCHFIELD COUNTY **
2021
21 VS 20 % CHANGE
21 VS 19 % CHANGE
2,720
-10%
+18%
AVERAGE SALE PRICE
$447,000
+4%
+43%
MEDIAN SALE PRICE
$321,000
+9%
+28%
-7%
+38%
-35%
-40%
UNITS
TOTAL $(000) AVERAGE DAYS ON MARKET
$1,245,938
66
WILLIAM PITT SOTHEBY’S INTERNATIONAL REALTY IS THE CLEAR MARKET LEADER IN KEY LITCHFIELD COUNTY TOWNS IN 2021 * Bridgewater, Cornwall, Goshen, Kent, Litchfield, Morris, Roxbury, Salisbury, Sharon, Warren, Washington, Woodbury Market Share
IN SOLD UNITS IN 2021 28% of all single family home sales, William Pitt Sotheby’s International Realty
IN SOLD DOLLAR VOLUME IN 2021 27% of all single family home sales dollar volume, William Pitt Sotheby’s International Realty
IN MARKET SHARE IN SALES BETWEEN $750,000-$1,000,000 34% share of this market segment in units and dollars, William Pitt Sotheby’s International Realty
IN MARKET SHARE IN SALES BETWEEN $1,000,000-$2,000,000 47% share of this market segment in units and dollars, William Pitt Sotheby’s International Realty
IN LUXURY SALES Highest share of homes sold over $1,000,000
MARKET DATA 2021 ** SINGLE FAMILY UNITS
AVERAGE SALE PRICE
TOTAL DOLLAR VOLUME
% CHANGE VS 2020
BETH L E H E M
49
$ 466, 505
$ 22,858,725
7%
BRI D GEWAT E R
30
$ 926,667
$ 27,800,001
5%
CANAAN
17
$ 531 , 597
$ 9,037, 1 54
11%
TOWN
CORN WAL L
31
$ 672, 51 5
$ 20,847, 980
-15 %
G OS H E N
63
$ 591 ,009
$ 37, 233, 590
-14%
KEN T
48
$ 813,663
$ 39,055,800
-16%
LITC H F I E L D
127
$ 496,67 1
$ 63,077, 235
-32%
MO RRI S
38
$ 498,468
$ 1 8, 941 ,800
-12%
NEW M I L FO RD
4 16
$ 439, 168
$ 1 82,693,824
12%
NO R FO L K
28
$ 323,000
$ 9,044,000
-55%
NO RT H CAN AAN
40
$ 329, 1 85
$ 13, 167,400
107%
ROX BU RY
55
$ 1 ,419, 287
$78,060,799
11%
SAL I S BURY
87
$ 1 , 146, 1 85
$ 99,7 1 8, 1 20
0%
SHA RO N
59
$700,093
$ 41 , 305, 509
-43 %
SHE R M AN
78
$ 697,019
$ 54, 367, 500
1%
WAR RE N
24
$ 643, 1 25
$ 1 5,435,000
-68 %
WAS H I N GTO N
68
$ 1 , 257,846
$ 85, 533, 500
-36%
WINC H EST E R
16 6
$ 299, 947
$ 49,791 , 147
2%
WO O D BURY
169
$ 531 , 981
$ 89, 904,87 1
46%
*Source: SmartMLS Residential Sales. Market Share by Broker, by total dollar volume or units as specified; closed sales for single family homes, Litchfield County towns as specified 01/01/21 - 12/31/21. **Reflects entire market statistics, not just William Pitt Sotheby’s International Realty sales per MLS.
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Litchfield Hills Brokerages PO Box 82 9 Maple Street Kent, CT 06757
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Consistent Leaders in Performance & Productivity | 2021 THE GOLDSPIEL TEAM* • Ira Goldspiel #1 in Sold Dollar Volume & Units, Kent Brokerage • Ira Goldspiel Top 15 in Sold Dollar Volume, Company Wide • Steve Pener #2 in Sold Dollar Volume & Units, Kent Brokerage • The Goldspiel Team #1 Team in Sold Dollar Volume & Units, Kent Brokerage
WILLIAM PITT SOTHEBY’S INTERNATIONAL REALTY* • #1 in Sold Dollar Volume in Litchfield County • #1 in Sold Single Family Units in Litchfield County
THE GOLDSPIEL TEAM o 860.927.7724 | c 917.626.3481 | e igoldspiel@williampitt.com | williampitt.com | TheGoldspielTeam.com ©MMXXII WPS Holdings, LLC. All rights reserved. Sotheby’s International Realty® and the Sotheby’s International Realty Logo are service marks licensed to Sotheby’s International Realty Affiliates LLC and used with permission. WPS Holdings LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. Any services or products provided by independently owned and operated franchisees are not provided by, affiliated with or related to Sotheby’s International Realty Affiliates LLC nor any of its affiliated companies. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. While information is believed true, and fully vetted, no guarantees are made. *Source: SmartMLS Residential Sales. Market Share by Broker, by total dollar volume or units as specified; closed sales, Litchfield County or towns as specified 01/01/21-12/31/21. Above photo is from 130 Long Pond Road, Lakeville, CT, Sold 2021.