Reported by Pam Cunconan, REALTOR- E-PRO, eCertified
Updated September 15, 2009.
Current Market Rating: 2
1
2
3
4
5
Buyer's
Seller's
Current Price Trend: 2
1
2
3
4
5
Falling
Rising
August numbers were better than expected and brought our year to date numbers up significantly, although still down from last August. We had 15% more contracts signed this August compared to August 08. These contracts will most likely result in higher sales numbers for September and October. There was a flurry of activity in August and we should know soon whether or not that will carry through to September. Our market began its decline last September and continued through August of this year. Year to date Sales of Single family homes are still down significantly. We picked up a little ground from the July numbers. This indicates that sellers are becoming more aware of the importance of pricing appropriately. No longer are the days of testing the market. The sellers who are pricing correctly from the beginning or adjusting quickly are the ones who are securing the contracts. August Numbers were as follows: Contracts, picked up again in August and this should result in better sales numbers for September and October. Many sellers have recently reduced their price and new listings are coming on priced to reflect the economic realities of today. Some sellers got tired of waiting the market out or worse yet were forced to sell and we are seeing more and more price reductions as a result. The market clearly shows the homes that sold and are under contract are homes where buyers feel they are "getting a deal". Many homes are selling below town assessed prices that are 70% of market value, based upon the 2005 evaluation. Some believe we are back to 2001 pricing.
About Pam Cunconan:
Whether she is listing a home for a homeowner or working with qualified buyers, Pam's energy, enthusiasm, professionalism and integrity will directly benefit you as a seller or a buyer. As one of Coldwell Banker's top agents in the country, she's consistently recognized for her excellence. From the beginning of her career when she was named "Rookie of the Year" to her current status as a member of the International President's Elite (awarded to the top 2% of 107,000 realtors nationwide), Pam's accomplishments reflect her unwavering commitment to oustanding customer support and service. "As the Greenwich office's top agent and a highly respected professional in town, Pam will go the extra mile to assist you in reaching your goal, always providing consistent quality service," says Nancy McDonald, Regional Director of Coldwell Banker. Pam can be reached at 203- 550-4282.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
