Central Connecticut Real Estate Market Report 11.17.2008
November 17th, 2008 categories: Central Connecticut News & Information, Real Estate Market
From the Greater Hartford Association of Realtors, October 2008 sales statistics show:
There were fewer new listings in October 2008 compared to last year but overall there are more homes on the market.
The median sales price shows a big decline - now $230,000. It’s been around $240,000 - $250,000 this year.
Fewer homes are selling and those that are selling spend more time on the market.
The biggest decline is the dollar volume of sales which directly impacts real estate agents and brokerages. I’m already noticing offices closing and hear anecdotal evidence that agents are leaving the business.
