Columbia, CT Market Report: 2011 In Review

By
Real Estate Agent with Keller Williams Greater Hartford REB.0789472

2011 was a slow year for home sellers in the small town of Columbia, CT . 43 homes in Columbia, CT sold through the year, which is down slightly from 2010. The average price of homes sold in Columbia in 2011 is $243,892.

Should the trend continue, just 7% of the 51 homes currently on the market in Columbia will sell in any given month. Another telling figure is the amount of homes that expired in 2011. An expired home is a home that goes on market, but ultimately just does not sell at. In 2011, 33 homes in Columbia expired unsold – leaving the odds of successfully selling at roughly 57%.

The average price of homes currently on market is $275,085…a 12% difference from what homes are actually selling at. What does that mean to you as a Columbia, CT home seller? If you are considering going on market, you will have to be very realistic about the value of your home if you wish to successfully sell. You only have a 57% shot at selling your home at all. How do you make it happen in this market? With an aggressive marketing plan, and most importantly – THE RIGHT PRICE. An experienced CT Realtor can guide you through this.

Short sales and foreclosures in Columbia CT in 2011: Out of all sold homes in 2011 7% were short sales and 12% were bank owned (foreclosed). 12% of all currently listed homes are short sales, while 4% of homes are bank owned – making distressed homes 16% of the current inventory in Columbia, CT.

What will 2012 hold? Only time will tell.

FIND THE RIGHT COLUMBIA, CONNECTICUT REALTOR.

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Minna Reid
Team Lead - Reid Real Estate Group
Keller Williams Connecticut
Voice or Text: 860.416.1255
 

Minna Reid  is a  CT Licensed Real Estate Broker Associate with Keller Williams Realty, and Team Leader of Reid Real Estate Group. Reid Real Estate Group is a team of full-time, full-service real estate experts with locations in Central and Northeast Connecticut, with a specialty in short sales. The Reid Group brings years of real estate experience, intimate knowledge of the local market and the highest levels of customer service and professionalism to help guide you through all of your real estate transitions. Visit us at www.REIDREALESTATEGROUP.com

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