Upload
others
View
3
Download
0
Embed Size (px)
Citation preview
Third Quarter 2016Connecticut Market Report
Nancy StetsonYour Trusted Real Estate AdvisorCell: 860-883-2005Office: 860-652-4534nancystetson@bhhsne.comnancystetson.bhhsNEproperties.com
2
Welcome to Berkshire Hathaway HomeServices New England Properties’ Third Quarter 2016 Connecticut Market Report, our examination of the single family and condominium markets throughout the state compared with trends across the Northeast and nationwide.
The third quarter of 2016 was uninspired with single family home sales flat, days on market up and average price down 3.7% to $378,600 when compared to last year. Year to date, more single family homes and condominiums have sold but at lower prices when compared to 2015. Entry level homes in every county were on the market for the shortest amount of time this quarter with an average of 75 days for single family homes sold under $350,000. That number doubles for homes sold at price points over $1,000,000.
Condition is still the driving force in the difference between well-priced inventory sitting or selling as move-in ready homes are desirable for first time homebuyers, move-up buyers and downsizers alike. New data released by rental startup Zumper reported that 37% of millennial renters indicated they are interested in buying only when they’re ready to afford their dream home, signaling that they find the concept of a “starter home” less desirable than previous generations and pushing their initial purchase date later in life. This statistic reflects what Berkshire Hathaway HomeServices New England Properties’ agents have seen across the state with renovated homes or those kept up in pristine condition turn over quicker than those that have not.
In Connecticut, true value opportunities exist at opposite ends of the market. Sellers of luxury homes are starting to drop prices dramatically, giving homebuyers the opportunity to buy their dream home in desirable neighborhoods. At the other end of the spectrum, buyers looking for a fixer-upper and low monthly payments are benefiting from the increase of foreclosure starts in the state as Connecticut countered the national trend in the month of July with a 50% increase.
The election is an obvious stall factor for many homebuyers and sellers. After November 8th, we anticipate the market will open up extending the fall market through to the end of the year and into 2017. Sellers that take listings off the market during the holidays will only miss out as serious buyers are moving fast on well-priced homes.
If you have any questions regarding this report or real estate questions in general, 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/CEO
Prepared by:
Candace Adams, President/CEO, [email protected] Redican, Director of Marketing, [email protected]
3
Berkshire Hathaway HomeServices New England Properties Named Top Workplace by the Hartford Courant and Hearst Media. This is the 5th consecutive year Berkshire Hathaway HomeServices New England Properties has been ranked a Top Workplace by both the Hartford Courant and Hearst Media.
ContentsCONNECTICUT OVERVIEW
THE LUXURY MARKET
FAIRFIELD COUNTY
HARTFORD COUNTY
LITCHFIELD COUNTY
MIDDLESEX COUNTY
NEW HAVEN COUNTY
NEW LONDON COUNTY
TOLLAND COUNTY
WINDHAM COUNTY
Cover Photo: Greenwich6LighthouseLane.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 30, 2016, 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.
A PEEK
INSIDE
IN thE NEwS
155 Paine Road, Woodstock | $1,600,000 | John DownsThis spectacular 4,874 sq. ft. reproduction Federal Colonial is located on over 21 acres. Designed by renowned Classic Colonial Homes of Deerfield, MA, the features of the home include; five working Rumford fireplaces, eastern white pine flooring throughout, a chef’s kitchen with cherry cabinets, Wolfe and Sub-zero appliances, soapstone and marble countertops and a beautiful glassed breakfast room. The master suite with fireplace, sitting room and balcony offers sweeping views. There is a large finished 3rd floor with a full bath as well as an in-law with fireplace and balcony. The heated in-ground pool boasts a pool-house and outdoor fireplace. The land features a dramatic reconstructed, circa 1810 true timber frame two-story barn. 860-377-0754 | 155PaineRoad.bhhsNEproperties.com
Connecticut Market Overview Q3-2016
www.bhhsNEproperties.com 4
Mortgage Information
WHAT ARE YOUR OPTIONS?
THE FACTS ABOUT AFFORDING A HOME
Although it’s true that some credit standards have tightened, it’s easier and less expensive to own a home than ever before. If you’re a motivated buyer that is gainfully employed, has built reasonable credit and shown the ability to afford a mortgage, you’re going to get a great deal. Whether it’s a 30 year fixed at 3.375% and 20% down, or an FHA with 3.5% down at an interest rate of 3.25%, you’ll be hard pressed not to find a great home that you can afford.
CHFA with Down Payment Assistance ProgramsCHFA HFA CHFA FHAHome Ready / Home PossibleFHAVA (for Veterans)USDA (for rural land)
GET A JUMPSTART
Take advantage of our JumpStart program to receive a full mortgage commitment, subject to a satisfactory appraisal. JumpStarts lets us and your Realtor® know you’re APPROVED, before you even find your home.
FIND OUT MORE
For more information, contact a CTHM Brand Manager for personalized information to help you make a decision.
Three Corporate Drive, Suite 212 Shelton, CT 06484 Office: 800.459.1585
Connecticut Market Overview Q3-2016
www.bhhsNEproperties.com 5
FAIRFIELD
NEW HAVEN
MIDDLESEX NEW LONDON
WINDHAM
TOLLANDHARTFORDLITCHFIELD
LITCHFIELD COUNTY
FAIRFIELD COUNTY
HARTFORD COUNTYTOLLAND COUNTY
WINDHAM COUNTY
NEW LONDON COUNTYMIDDLESEX COUNTY
NEW HAVEN COUNTY
THIRD QUARTER 2016 BY THE NUMBERS
Single family homes in Connecticut saw a slight decrease of 1.4% in sales year over year (YOY) and a decrease in sales volume by 5.0%.
The condominium market saw a decrease of 4.7% in number of sales when compared to Third Quarter 2015 and a 7.2% decrease in sales volume.
Average price for single family homes was $378,600, a 3.6% decrease. Average price for condominiums decreased by 2.6% ($222,100) YOY. Average days on market for single family homes was 130 and 135 for condominiums.
There were 85 sales between $2 - $3 million in Third Quarter 2016, down from 102 units in Second Quarter 2016. There were 41 sales in the $3-5 million range and 14 sales over $5 million. Numbers in chart below represent single family homes.
Connecticut Market Overview Q3-2016
www.bhhsNEproperties.com 6
Stat
ewid
e C
lose
d Sa
les
0
1000
2000
3000
4000
5000
6000
7000
8000
9000
10000
Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016
Clo
sed
Sal
es
Single Family Condominium
CLOSED SALES & CONTRACTS SIGNED
There were 9,242 closed sales for single family homes during Third Quarter 2016, down 1.4% YOY. There were 2,167 closed condominium sales during Third Quarter 2016, down 4.7% YOY. Pending sales, or contracts signed on single family homes were at 5,417 in Third Quarter 2016, down from 11,294 in Second Quarter 2016. Condominiums also saw a decrease in contracts signed (1,809 vs 2,803).
CURRENT INVENTORY
Inventory for single family homes was 12.4 months this quarter, up from 8.8 months in Second Quarter 2016. Inventory for condominiums was 10.7 months, up from 8.4 months in Second Quarter 2016.
0
2
4
6
8
10
12
14
Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016
Mon
ths
Sup
ply
of
Inve
ntor
y
Single Family Condominium
Mon
ths
Supp
ly o
f Inv
ento
ry
Connecticut Market Overview Q3-2016
www.bhhsNEproperties.com 7
STATEWIDE SALES VOLUME
Sales volume for single family homes was $3,499,167,000, down 5.0% YOY. Sales volume rose most notably in Litchfield and New London Counties by 9.3% and 8.8%, respectively. Condominium sales volume was $481,233,000 down 7.2% YOY. Sales volume rose most notably for condominiums in Windham and New London Counties by 12.6% and 8.4%, respectively.
0
500000000
1000000000
1500000000
2000000000
2500000000
3000000000
3500000000
4000000000
Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016
Statewide Sales Volume
Single Family
Condominium
-5.07%Q3 2016 vs Q3 2015
-7.27%
Q3 2016 vs Q3 2015
HOME PRICES
Median prices for single family homes increased 1.8% and condominiums went down 2.6% YOY. Average sales price for single family homes went down 3.7% ($378,600 vs $393,100) and average price for condominiums also decreased 2.6% ($222,100 vs $228,000) YOY.
Average Sales Price Single Family
Average Sales Price Condominium
Median Sales Price Single Family
Median Sales Price Condominium
Q2 2016 $382,600 $218,400 $253,000 $165,000
Change -1.0% 1.7% 1.8% 0.3%
Q3 2016 $378,600 $222,100 $257,600 $165,500
Q3 2015 $393,100 $228,000 $255,000 $170,000
Change -3.7% -2.6% 1.0% -2.6%
Q3 2016 $378,600 $222,100 $257,600 $165,500
Connecticut Market Overview Q3-2016
www.bhhsNEproperties.com 8
NEW HOUSING & DEVELOPMENT
New housing permit data, provided by the Connecticut Department of Economic and Community Development, shows 49.0% of permits were multifamily projects with five or more units through August of 2016. Year to date, permits are down 18.1% across the state (2,703 compared to 3,301) as last year there were larger multifamily projects and more single family home builds when compared to June and July of 2016.
Out of the 276 permits issued in August, 56.5% were for single family homes and 30.8% were for projects with five or more units. Colchester, Simsbury and Milford issued the most permits in August with 19, 17 and 17 respectively.
Buyers are more focused about details rather than location when it comes to new development options on the market. Buyers are looking outside of their tageted home-buying location to get the specific finishes and options they want such as hardwood floors, granite countertops and homes where the exterior upkeep is handled for them.
Q3-2016
www.bhhsNEproperties.com 9
The Luxury Market
TOTAL UNIT SALES BY COUNTY
Fairfield County remains the strongest with 134 homes sold in Third Quarter 2016, down from 159 units sold in Second Quarter in 2016. The Town of Greenwich saw more sales in the $2-5 million range, with 68 units sold. One sale over $10 million was sold in Riverside this quarter and was on the market for 365 days. 10 units sold in the $5-$10 price range, which is consistent with last quarter.
THIRD QUARTER LUXURY SALES
Luxury Sales in Connecticut, classified by sales over $2 million, totaled 140 units in Third Quarter 2016, down from the 166 homes sold in the Second Quarter of this year. Homes in the $2-3 million range continue to dominate the Luxury Market with the majority of sales (235 vs 171). YOY, luxury home sales are down 18.9%. Homes that are selling have dramatically decreased asking prices, creating value for first time and move up buyers. High end inventory is selling, however location and condition matter. The ultra-high end will continue to see activity at a consistent pace as many of those deals are cash buyers not impacted by economic factors.
0 50 100 150 200 250
Q4 2014
Q1 2015
Q2 2015
Q3 2015
Q4 2015
Q1 2016
Q2 2016
Q3 2016
Number of Sales
Luxury Sales Over $5 Million $3-$5 Million $2-$3 Million
Luxu
ry S
ales
www.bhhsNEproperties.com 10
Fairfield County
FAIRFIELD
NEW HAVEN
MIDDLESEX NEW LONDON
WINDHAM
TOLLANDHARTFORDLITCHFIELD
Q3-2016
www.bhhsNEproperties.com 11
Fairfield County
There were 2,067 single family homes sold in Third Quarter 2016, down 7.1% YOY. The average sales price for single family homes was $341,600, a decrease of 3.8% YOY. Average sales volume decreased 12.8% ($1,633,667,000 vs $1,874,867,000) for single family homes. Condominium sales decreased slightly by 1.9% YOY with 706 units sold in Third Quarter. Condominium sales volume decreased 5.7% ($241,137,000 vs $255,758,000) YOY. Average days on market for single family homes was 130 this quarter and 145 for condominiums. Average rental prices were $2,969 per month.
SINGLE FAMILY AND CONDO RATIO
AVERAGE AND MEDIAN SALES PRICE
Number of Sales
Days on Market
Q4 2014 2375 141
Q3 2014 2995 126
Q2 2014 2860 144
Q1 2014 1666 157
Q4 2013 2450 146
Q1 2015 1748 155
Q4 2014 2373 143
Q3 2014 2959 127
Q2 2014 2835 145
Q1 2014 1646 158
Number of Sales
Days on Market
Q3 2016 2773 139
Q2 2016 2671 144
Q1 2016 1620 162
Q4 2015 2103 150
Q3 2015 2947 134
0
100000
200000
300000
400000
500000
600000
700000
800000
900000
1000000
Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016
AVERAGE AND MEDIAN SALES PRICE
Average Single Family Average Condominium Median Single Family Median Condominium
Q3 2015
Single Family Condominium
Q3 2016
Single Family Condominium
Q3 2015
Single Family Condominium
Q3 2016
Single Family Condominium
CondominiumsSingle Family
Q3-2016
www.bhhsNEproperties.com 12
Fairfield County
AVERAGE SALES PRICE MEDIAN SALES PRICE SALES DAyS oN MARkEt DoLLAR VoLuMEQTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
BEtHEL
1 Family $328,200 9.1% $312,000 4.0% 49 -16.9% 142 40.0% $16,083,000 -9.4%
Condo $283,400 -9.4% $275,000 -12.4% 21 -19.2% 252 56.9% $5,950,000 -26.8%
BRIDGEPoRt
1 Family $161,700 -1.5% $167,900 4.9% 106 -23.7% 109 -15.9% $17,136,000 -24.9%
Condo $92,200 3.7% $81,800 -2.0% 66 32.0% 130 -1.8% $6,087,000 36.9%
BRookFIELD
1 Family $394,300 6.3% $364,500 3.3% 38 -9.5% 141 -2.6% $14,985,000 -3.8%
Condo $265,700 8.1% $225,000 7.4% 23 43.8% 112 -43.8% $6,111,000 55.3%
DANBuRy
1 Family $310,200 2.7% $295,000 9.3% 101 -11.4% 133 6.6% $31,328,000 -9.0%
Condo $220,100 -3.4% $185,500 -20.0% 110 -0.9% 151 -3.9% $24,206,000 -4.3%
DARIEN
1 Family $1,441,100 -16.1% $1,212,500 -17.8% 68 -43.8% 135 12.0% $97,995,000 -52.9%
Condo $1,725,000 174.4% $1,725,000 150.0% 2 -77.8% 88 14.3% $3,450,000 -39.0%
EAStoN
1 Family $617,100 -7.8% $612,500 -3.9% 28 -3.4% 139 6.0% $17,280,000 -11.0%
Condo - - - - - - - - - -
FAIRFIELD
1 Family $736,200 -8.5% $638,000 2.1% 213 -7.0% 123 -3.0% $156,810,000 -14.9%
Condo $439,500 -4.5% $420,000 13.5% 39 25.8% 151 -8.1% $17,141,000 20.1%
GREENWICH
1 Family $2,179,000 -13.0% $1,703,000 -6.0% 196 7.7% 181 0.3% $427,086,000 -6.4%
Condo $890,200 -0.4% $755,000 11.5% 44 -25.4% 150 -6.7% $39,167,000 -25.7%
MoNRoE
1 Family $365,100 -5.7% $370,000 2.1% 47 9.3% 127 10.0% $17,157,000 3.1%
Condo $178,300 -13.3% $173,000 -17.0% 4 -76.5% 126 12.0% $713,000 -79.6%
NEW CANAAN
1 Family $1,914,000 23.1% $1,681,000 16.7% 50 -35.9% 180 22.8% $95,702,000 -21.1%
Condo $769,300 5.8% $577,500 1.4% 14 -12.5% 207 55.5% $10,770,000 -7.4%
NEW FAIRFIELD
1 Family $343,900 0.5% $337,500 2.7% 52 23.8% 118 -2.2% $17,885,000 24.4%
Condo - - - - - - - - - -
NEWtoWN
1 Family $394,900 5.5% $372,000 9.4% 80 -1.2% 139 -0.6% $31,591,000 4.2%
Condo $336,300 -9.1% $285,000 -19.5% 15 -25.0% 420 1.0% $5,045,000 -31.8%
NoRWALk
1 Family $571,800 4.1% $450,000 -0.3% 191 -9.0% 128 4.8% $109,208,000 -5.3%
Condo $330,200 8.1% $264,000 3.9% 98 6.5% 123 1.4% $32,362,000 15.2%
REDDING
1 Family $534,800 4.7% $530,000 5.0% 24 -17.2% 134 -16.6% $12,835,000 -13.3%
Condo $615,000 - $615,000 - 1 - 105 - $615,000 -
Q3-2016
www.bhhsNEproperties.com 13
Fairfield CountyAVERAGE SALES PRICE MEDIAN SALES PRICE SALES DAyS oN MARkEt DoLLAR VoLuME
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
RIDGEFIELD
1 Family $763,700 2.0% $650,000 -6.5% 105 9.4% 128 10.7% $80,192,000 11.6%
Condo $479,100 51.1% $356,000 34.3% 20 -16.7% 122 -20.7% $9,581,000 25.9%
SHELtoN
1 Family $329,500 8.9% $337,500 8.9% 50 -12.3% 130 8.5% $16,473,000 -4.5%
Condo $290,100 -8.8% $258,500 -9.9% 24 -25.0% 165 42.4% $6,962,000 -31.6%
SHERMAN
1 Family $268,300 -23.3% $268,300 -10.2% 2 -66.7% 55 -69.3% $537,000 -74.4%
Condo - - - - - - - - - -
StAMFoRD
1 Family $632,300 -5.0% $557,000 -4.8% 214 -8.5% 138 10.2% $135,303,000 -13.1%
Condo $352,700 -3.4% $314,000 -1.5% 165 15.4% 120 4.0% $58,200,000 11.4%
StRAtFoRD
1 Family $272,400 13.8% $246,000 7.0% 105 34.6% 114 -5.2% $28,600,000 53.2%
Condo $174,800 9.0% $162,500 11.3% 37 -5.1% 160 18.1% $6,469,000 3.4%
tRuMBuLL
1 Family $403,000 -2.7% $381,500 0.4% 116 2.7% 121 11.9% $46,752,000 -0.1%
Condo $294,600 -23.2% $291,000 -15.3% 11 37.5% 118 -15.6% $3,241,000 5.6%
WEStoN
1 Family $882,400 -3.0% $795,000 -4.2% 61 22.0% 170 32.5% $53,824,000 18.3%
Condo - - - - - - - - - -
WEStPoRt
1 Family $1,518,200 4.3% $1,289,000 -0.1% 101 -21.1% 145 10.1% $153,341,000 -17.7%
Condo $611,900 -5.0% $640,000 -7.2% 4 -42.9% 88 -17.3% $2,448,000 -45.7%
WILtoN
1 Family $793,800 -10.9% $744,500 -9.1% 70 4.5% 141 7.0% $55,564,000 -6.9%
Condo $327,400 -13.8% $312,000 -5.2% 8 -20.0% 124 -2.0% $2,619,000 -31.0%
www.bhhsNEproperties.com 14
Hartford County
FAIRFIELD
NEW HAVEN
MIDDLESEX NEW LONDON
WINDHAM
TOLLANDHARTFORDLITCHFIELD
Q3-2016
www.bhhsNEproperties.com 15
Hartford County
There were 2,457 single family homes units sold in Third Quarter 2016, up slightly by 0.12% YOY. Single family home sales volume increased 4.3% ($667,317,000 vs $639,823,000) YOY. Average sales price for single family homes was $271,600, up 4.1% YOY. The condominium market decreased 10.5% in sales YOY, and decreased 14.11% in sales volume ($98,214,000 vs $114,349,000). Average price was $172,900 in Third Quarter, down 3.9% YOY. Average days on market was 115 for single family homes and 116 for condominiums. Average rental prices were $1,603 per month.
Number of Sales
Days on Market
Q4 2014 2375 141
Q3 2014 2995 126
Q2 2014 2860 144
Q1 2014 1666 157
Q4 2013 2450 146
Q1 2015 1748 155
Q4 2014 2373 143
Q3 2014 2959 127
Q2 2014 2835 145
Q1 2014 1646 158
Number of Sales
Days on Market
Q3 2016 3025 115
Q2 2016 3013 122
Q1 2016 1833 137
Q4 2015 2374 124
Q3 2015 3089 113
SINGLE FAMILY AND CONDO RATIO
AVERAGE AND MEDIAN SALES PRICE
0
50000
100000
150000
200000
250000
300000
Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016
AVERAGE AND MEDIAN SALES PRICE
Average Single Family Average Condominium Median Single Family Median Condominium
Q3 2015
Single Family Condominium
Q3 2016
Single Family Condominium
Q3 2015
Single Family Condominium
Q3 2016
Single Family Condominium
CondominiumsSingle Family
Q3-2016
www.bhhsNEproperties.com 16
Hartford County
AVERAGE SALES PRICE MEDIAN SALES PRICE SALES DAyS oN MARkEt DoLLAR VoLuMEQTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
AVoN
1 Family $497,500 -8.6% $444,000 -1.6% 95 21.8% 104 -10.9% $47,263,000 11.3%
Condo $261,200 5.2% $252,500 4.6% 26 -39.5% 124 13.7% $6,792,000 -36.4%
BERLIN
1 Family $283,700 5.8% $265,000 3.9% 52 -17.5% 119 14.8% $14,751,000 -12.7%
Condo $194,400 -22.2% $179,900 -21.7% 11 57.1% 122 -31.8% $2,139,000 22.2%
BLooMFIELD
1 Family $207,000 4.3% $204,000 7.1% 63 -12.5% 133 -2.5% $13,043,000 -8.7%
Condo $251,900 11.3% $245,000 40.0% 19 -42.4% 130 -10.0% $4,786,000 -35.9%
BRIStoL
1 Family $191,100 2.9% $180,000 2.9% 166 -9.3% 121 -6.0% $31,719,000 -6.7%
Condo $122,500 0.5% $111,000 5.7% 34 -24.4% 107 -20.3% $4,166,000 -24.1%
BuRLINGtoN
1 Family $344,200 5.7% $335,000 3.9% 39 -9.3% 152 48.1% $13,422,000 -4.1%
Condo - - - - - - - - - -
CANtoN
1 Family $347,000 -4.5% $297,800 -5.5% 34 -22.7% 110 -12.9% $11,798,000 -26.2%
Condo $158,900 -18.8% $149,900 -23.1% 13 44.4% 137 11.5% $2,066,000 17.3%
EASt GRANBy
1 Family $278,500 6.3% $279,000 7.3% 27 22.7% 115 22.9% $7,520,000 30.4%
Condo $232,300 91.2% $232,300 91.2% 2 0.0% 88 67.6% $465,000 91.2%
EASt HARtFoRD
1 Family $150,900 22.7% $154,000 19.0% 137 0.7% 115 -1.5% $20,670,000 23.6%
Condo $104,700 19.5% $97,000 21.3% 9 -30.8% 133 -0.5% $943,000 -17.3%
EASt WINDSoR
1 Family $286,500 34.5% $295,000 55.7% 23 -39.5% 155 46.7% $6,590,000 -18.6%
Condo $191,600 8.7% $153,900 -2.3% 15 7.1% 267 38.7% $2,874,000 16.5%
ENFIELD
1 Family $179,600 3.4% $171,500 2.1% 136 -3.5% 108 5.5% $24,431,000 -0.3%
Condo $163,500 14.2% $159,700 15.7% 37 8.8% 98 4.2% $6,050,000 24.3%
FARMINGtoN
1 Family $394,400 -17.1% $317,000 -17.7% 71 6.0% 104 -18.4% $27,999,000 -12.2%
Condo $197,100 -2.3% $181,500 3.3% 39 0.0% 100 -4.7% $7,686,000 -2.3%
GLAStoNBuRy
1 Family $425,600 10.3% $386,000 6.6% 148 4.2% 115 14.7% $62,989,000 15.0%
Condo $214,100 7.1% $200,000 23.1% 37 -14.0% 104 -19.8% $7,923,000 -7.8%
GRANBy
1 Family $279,300 -5.5% $265,000 -9.4% 37 -27.5% 131 4.8% $10,334,000 -31.5%
Condo $162,600 -13.4% $167,500 -1.5% 4 0.0% 94 -35.6% $651,000 -13.4%
HARtFoRD
1 Family $152,200 19.8% $144,800 14.0% 76 38.2% 133 1.9% $11,565,000 65.6%
Condo $85,900 -3.8% $47,500 -44.1% 16 14.3% 73 -51.8% $1,375,000 10.0%
Q3-2016
www.bhhsNEproperties.com 17
Hartford CountyAVERAGE SALES PRICE MEDIAN SALES PRICE SALES DAyS oN MARkEt DoLLAR VoLuME
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
HARtLAND
1 Family $300,000 32.8% $300,000 34.9% 2 -50.0% 264 325.0% $600,000 -33.6%
Condo - - - - - - - - - -
MANCHEStER
1 Family $182,700 -1.2% $167,500 1.8% 150 -18.5% 111 -5.3% $27,398,000 -19.5%
Condo $88,500 -31.0% $71,200 -42.1% 21 -34.4% 79 -25.4% $1,859,000 -54.7%
MARLBoRouGH
1 Family $315,600 1.5% $280,000 -8.5% 25 -7.4% 99 -14.3% $7,891,000 -6.0%
Condo - - - - - - - - - -
NEW BRItAIN
1 Family $135,700 -1.1% $135,000 -1.5% 100 -4.8% 131 15.9% $13,571,000 -5.8%
Condo $88,400 -7.1% $96,000 43.3% 17 13.3% 105 -28.3% $1,502,000 5.3%
NEWINGtoN
1 Family $228,200 7.1% $225,000 7.1% 94 11.9% 101 -4.8% $21,451,000 19.8%
Condo $147,300 -17.1% $135,000 -9.4% 49 4.3% 120 7.8% $7,219,000 -13.5%
PLAINVILLE
1 Family $202,200 4.6% $195,000 11.0% 39 -32.8% 94 -9.2% $7,887,000 -29.7%
Condo $125,500 -11.2% $113,500 -5.0% 10 -28.6% 120 -3.3% $1,255,000 -36.6%
RoCky HILL
1 Family $342,000 17.8% $321,500 19.3% 44 29.4% 110 2.0% $15,048,000 52.4%
Condo $177,000 1.4% $172,800 1.6% 37 32.1% 108 17.9% $6,549,000 34.0%
SIMSBuRy
1 Family $363,700 5.0% $337,300 8.8% 110 14.6% 123 11.6% $40,010,000 20.3%
Condo $155,700 -12.6% $140,800 -4.2% 18 5.9% 119 25.1% $2,802,000 -7.5%
SoutH WINDSoR
1 Family $282,700 0.6% $268,800 4.7% 82 -6.8% 94 -2.1% $23,178,000 -6.3%
Condo $152,700 4.8% $129,100 -12.5% 34 -15.0% 105 -2.9% $5,193,000 -11.0%
SoutHINGtoN
1 Family $292,100 -1.8% $268,300 0.7% 146 16.8% 117 6.1% $42,651,000 14.7%
Condo $167,000 -12.7% $146,500 -26.8% 23 15.0% 160 54.7% $3,842,000 0.3%
SuFFIELD
1 Family $333,700 -4.9% $286,000 -3.4% 61 10.9% 116 -11.4% $20,355,000 5.5%
Condo $219,200 -0.7% $213,500 13.8% 18 63.6% 104 -24.8% $3,945,000 62.6%
WESt HARtFoRD
1 Family $336,900 -4.0% $302,500 -2.4% 241 8.6% 113 11.9% $81,190,000 4.2%
Condo $246,100 -7.5% $225,000 -10.0% 39 -31.6% 124 30.8% $9,599,000 -36.7%
WEtHERSFIELD
1 Family $267,400 12.4% $241,000 7.1% 115 29.2% 112 0.6% $30,752,000 45.2%
Condo $145,000 -7.8% $137,000 -8.1% 21 31.3% 97 -20.2% $3,046,000 21.1%
WINDSoR
1 Family $228,900 13.2% $230,000 17.9% 101 -4.7% 103 -3.3% $23,121,000 7.9%
Condo $205,100 16.7% $198,000 3.1% 11 -52.2% 112 1.6% $2,256,000 -44.2%
WINDSoR LoCkS
1 Family $188,800 18.5% $173,000 11.5% 43 2.4% 111 -6.2% $8,117,000 21.4%
Condo $154,300 -2.3% $139,000 8.1% 8 -42.9% 141 2.7% $1,234,000 -44.2%
www.bhhsNEproperties.com 18
Litchfield County
FAIRFIELD
NEW HAVEN
MIDDLESEX NEW LONDON
WINDHAM
TOLLANDHARTFORDLITCHFIELD
Q3-2016
www.bhhsNEproperties.com 19
Litchfield County
525 single family homes sold in Third Quarter 2016, up 2.7% YOY. Average sales price on single family homes was $259,100, a 6.4% increase YOY. Sales volume increased for single family homes YOY by 9.3% ($136,024,000 vs $124,371,000). There were 77 condominium sales in Third Quarter 2016, down 2.5% YOY. Sales volume for condominiums increased 2.2% ($9,755,000 vs $9,541,000). Average days on market was 165 for single family homes and 144 for condominiums. Average rental prices were $2,477.
Number of Sales
Days on Market
Q4 2014 443 146
Q3 2014 502 120
Q2 2014 394 133
Q1 2014 282 162
Q4 2013 411 146
Q1 2015 344 140
Q4 2014 499 145
Q3 2014 548 118
Q2 2014 437 133
Q1 2014 316 162
Number of Sales
Days on Market
Q3 2016 602 162
Q2 2016 550 164
Q1 2016 333 190
Q4 2015 491 170
Q3 2015 590 151
SINGLE FAMILY AND CONDO RATIO
AVERAGE AND MEDIAN SALES PRICE
0
50000
100000
150000
200000
250000
300000
Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016
AVERAGE AND MEDIAN SALES PRICE
Average Single Family Average Condominium Median Single Family Median Condominium
Q3 2015
Single Family Condominium
Q3 2016
Single Family Condominium
Q3 2015
Single Family Condominium
Q3 2016
Single Family Condominium
CondominiumsSingle Family
Q3-2016
www.bhhsNEproperties.com 20
Litchfield County
AVERAGE SALES PRICE MEDIAN SALES PRICE SALES DAyS oN MARkEt DoLLAR VoLuMEQTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
BANtAM
1 Family $256,300 -19.9% $256,300 -39.7% 2 -33.3% 77 -59.0% $513,000 -46.6%
Condo - - - - - - - - - -
BARkHAMStED
1 Family $274,300 4.9% $301,000 15.3% 6 -14.3% 131 -27.4% $1,646,000 -10.1%
Condo - - - - - - - - - -
BEtHLEHEM
1 Family $255,300 23.7% $247,900 5.5% 12 33.3% 168 15.2% $3,063,000 65.0%
Condo - - - - - - - - - -
BRIDGEWAtER
1 Family $280,000 -51.3% $280,000 -51.3% 2 0.0% 168 113.4% $560,000 -51.3%
Condo - - - - - - - - - -
CANAAN
1 Family $185,700 -40.1% $147,500 -10.2% 10 66.7% 301 39.7% $1,857,000 -0.2%
Condo - - - - - - - - - -
CoLEBRook
1 Family $205,500 -9.3% $231,300 15.6% 6 100.0% 125 16.0% $1,233,000 81.3%
Condo - - - - - - - - - -
CoRNWALL BRIDGE
1 Family $203,000 -79.7% $203,000 -45.9% 2 -50.0% 240 19.5% $406,000 -89.8%
Condo - - - - - - - - - -
EASt CANAAN
1 Family $224,000 21.1% $224,000 21.1% 1 0.0% 88 37.5% $224,000 21.1%
Condo - - - - - - - - - -
GoSHEN
1 Family $333,000 -5.8% $312,500 -5.3% 19 5.6% 310 85.2% $6,326,000 -0.6%
Condo - - - - - - - - - -
HARWINtoN
1 Family $265,300 8.7% $240,000 6.9% 25 4.2% 145 9.3% $6,631,000 13.2%
Condo - - - - - - - - - -
kENt
1 Family $205,000 -68.5% $205,000 -68.5% 1 0.0% 54 -34.9% $205,000 -68.5%
Condo $19,800 - $19,800 - 1 - 64 - $20,000 -
LItCHFIELD
1 Family $384,700 17.1% $320,000 14.3% 24 -4.0% 219 44.0% $9,234,000 12.5%
Condo $238,300 -1.5% $220,000 -9.1% 6 500.0% 215 12.7% $1,430,000 490.9%
MoRRIS
1 Family $425,100 48.1% $280,000 7.9% 7 -56.2% 241 37.1% $2,976,000 -35.2%
Condo - - - - - - - - - -
NEW HARtFoRD
1 Family $263,400 2.6% $257,500 1.2% 24 -14.3% 151 15.9% $6,321,000 -12.0%
Condo - - - - - - - - - -
Q3-2016
www.bhhsNEproperties.com 21
Litchfield County
AVERAGE SALES PRICE MEDIAN SALES PRICE SALES DAyS oN MARkEt DoLLAR VoLuMEQTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
NEW MILFoRD
1 Family $351,700 11.6% $288,000 8.7% 49 0.0% 137 -8.2% $17,236,000 11.6%
Condo $153,400 36.3% $149,000 41.9% 11 0.0% 114 -17.1% $1,687,000 36.3%
NoRFoLk
1 Family $229,300 -27.4% $137,500 -41.0% 4 -63.6% 211 -14.8% $917,000 -73.6%
Condo - - - - - - - - - -
PLyMoutH
1 Family $168,000 1.8% $157,000 -2.8% 47 34.3% 153 9.1% $7,898,000 36.7%
Condo $113,900 -5.0% $113,300 -1.5% 4 -42.9% 186 60.0% $456,000 -45.7%
RoXBuRy
1 Family $550,000 -22.4% $550,000 -22.4% 1 -50.0% 679 178.3% $550,000 -61.2%
Condo - - - - - - - - - -
SALISBuRy
1 Family $766,100 33.2% $475,000 -6.9% 23 155.6% 247 81.5% $17,621,000 240.4%
Condo $340,300 -12.8% $340,300 -12.8% 2 0.0% 269 55.7% $681,000 -12.8%
SHARoN
1 Family $425,000 92.1% $425,000 92.1% 1 0.0% 141 -28.8% $425,000 92.1%
Condo - - - - - - - - - -
tHoMAStoN
1 Family $201,100 24.9% $191,000 15.1% 18 12.5% 153 25.0% $3,620,000 40.5%
Condo $92,900 -27.8% $108,000 -4.0% 5 25.0% 154 0.0% $465,000 -9.8%
toRRINGtoN
1 Family $141,600 6.2% $140,000 13.5% 101 -9.0% 131 -15.0% $14,303,000 -3.3%
Condo $78,300 -0.7% $63,000 -13.1% 25 8.7% 138 -22.8% $1,957,000 8.0%
WASHINGtoN
1 Family $831,300 246.2% $831,300 246.2% 2 100.0% 251 304.0% $1,663,000 592.4%
Condo $295,000 23.7% $295,000 23.7% 1 -50.0% 200 18.7% $295,000 -38.2%
WAtERtoWN
1 Family $209,200 -9.9% $192,500 -5.2% 73 19.7% 133 -6.0% $15,272,000 7.8%
Condo $164,800 47.1% $175,000 44.6% 7 40.0% 160 -22.1% $1,154,000 106.0%
WINCHEStER
1 Family $160,200 3.5% $162,500 16.2% 38 -2.6% 158 27.5% $6,087,000 0.9%
Condo $67,800 - $72,000 - 3 - 242 - $204,000 -
WooDBuRy
1 Family $342,200 2.4% $315,000 5.0% 27 -3.6% 194 6.6% $9,239,000 -1.2%
Condo $117,400 -13.3% $107,500 -1.4% 12 -42.9% 77 -42.4% $1,409,000 -50.5%
Connecticut Market Overview Q3-2016
www.bhhsNEproperties.com 22
Middlesex County
FAIRFIELD
NEW HAVEN
MIDDLESEX NEW LONDON
WINDHAM
TOLLANDHARTFORDLITCHFIELD
Q3-2016
www.bhhsNEproperties.com 23
Middlesex County
518 single family homes sold in Third Quarter 2016, down 4.6% YOY, and sales volume increased 1.3% ($154,188,000 vs $152,135,000). The average sales price for single family homes was $297,700, a 6.2% increase. Condominium sales decreased 21.7% YOY with 97 units sold in Third Quarter 2016. Average price was $159,000 in Third Quarter, a decrease of 18.2%. Sales volume for condominiums declined to 36.03% YOY ($15,429,000 vs $24,121,000). Average days on market was 140 for single family homes and 151 for condominiums. Average rental prices were $1,813 per month.
Number of Sales
Days on Market
Q4 2014 457 93
Q3 2014 543 81
Q2 2014 498 89
Q1 2014 325 109
Q4 2013 378 97
Q1 2015 350 115
Q4 2014 497 99
Q3 2014 586 82
Q2 2014 531 90
Q1 2014 347 110
Number of Sales
Days on Market
Q3 2016 615 142
Q2 2016 650 151
Q1 2016 421 166
Q4 2015 538 151
Q3 2015 667 129
SINGLE FAMILY AND CONDO RATIO
AVERAGE AND MEDIAN SALES PRICE
0
50000
100000
150000
200000
250000
300000
350000
Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016
AVERAGE AND MEDIAN SALES PRICE
Average Single Family Average Condominium Median Single Family Median Condominium
Q3 2015
Single Family Condominium
Q3 2016
Single Family Condominium
Q3 2015
Single Family Condominium
Q3 2016
Single Family Condominium
CondominiumsSingle Family
Q3-2016
www.bhhsNEproperties.com 24
Middlesex CountyAVERAGE SALES PRICE MEDIAN SALES PRICE SALES DAyS oN MARkEt DoLLAR VoLuME
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
CHEStER
1 Family $300,100 -3.5% $290,000 -6.8% 13 44.4% 133 -6.5% $3,901,000 39.4%
Condo - - - - - - - - - -
CLINtoN
1 Family $327,700 15.5% $259,000 8.9% 53 0.0% 150 27.0% $17,367,000 15.5%
Condo $185,900 8.6% $155,000 -5.8% 13 116.7% 104 -43.8% $2,417,000 135.3%
CoBALt
1 Family $235,000 -37.9% $235,000 -37.9% 2 100.0% 120 -28.4% $470,000 24.2%
Condo - - - - - - - - - -
CRoMWELL
1 Family $293,900 14.5% $265,000 28.1% 35 0.0% 124 -9.8% $10,288,000 14.5%
Condo $155,300 -22.0% $136,000 -1.8% 27 -10.0% 156 50.5% $4,194,000 -29.8%
DEEP RIVER
1 Family $311,600 44.0% $224,800 4.5% 16 6.7% 196 45.0% $4,986,000 53.6%
Condo $144,000 12.6% $144,000 12.6% 2 0.0% 206 35.1% $288,000 12.6%
DuRHAM
1 Family $263,400 -12.5% $265,000 -8.3% 27 -6.9% 163 28.2% $7,112,000 -18.5%
Condo $193,000 -7.5% $193,000 -12.3% 2 -33.3% 131 72.4% $386,000 -38.3%
EASt HADDAM
1 Family $275,900 15.8% $265,000 9.6% 45 50.0% 155 35.2% $12,416,000 73.7%
Condo - - - - - - - - - -
EASt HAMPtoN
1 Family $274,400 5.5% $275,500 17.2% 56 -1.8% 124 1.2% $15,367,000 3.7%
Condo $145,400 -18.0% $142,500 -18.6% 9 50.0% 158 45.3% $1,308,000 23.0%
ESSEX
1 Family $496,400 8.6% $329,000 -12.3% 26 4.0% 118 13.8% $12,908,000 12.9%
Condo $241,500 -3.8% $244,500 19.3% 3 -57.1% 59 -77.6% $725,000 -58.8%
HADDAM
1 Family $296,600 32.7% $250,000 16.3% 23 -8.0% 150 22.4% $6,822,000 22.1%
Condo - - - - - - - - - -
kILLINGWoRtH
1 Family $318,600 -9.9% $336,200 -9.1% 32 52.4% 174 9.4% $10,197,000 37.2%
Condo - - - - - - - - - -
MIDDLEFIELD
1 Family $273,500 0.3% $269,000 7.0% 17 70.0% 151 7.0% $4,650,000 70.5%
Condo $435,000 - $435,000 - 1 - 1206 - $435,000 -
MIDDLEtoWN
1 Family $224,000 4.5% $220,000 4.8% 91 -18.0% 110 -6.2% $20,388,000 -14.4%
Condo $98,700 -19.5% $91,500 -15.7% 35 -23.9% 141 0.2% $3,454,000 -38.8%
Q3-2016
www.bhhsNEproperties.com 25
Middlesex CountyAVERAGE SALES PRICE MEDIAN SALES PRICE SALES DAyS oN MARkEt DoLLAR VoLuME
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
oLD SAyBRook
1 Family $420,100 10.7% $366,000 12.2% 37 -38.3% 134 21.0% $15,542,000 -31.7%
Condo $565,000 47.8% $405,000 15.5% 3 -75.0% 128 -57.7% $1,695,000 -63.0%
PoRtLAND
1 Family $233,600 4.0% $237,800 14.3% 27 -25.0% 144 9.5% $6,307,000 -22.0%
Condo $132,500 -37.2% $132,500 -28.1% 1 -85.7% 224 142.7% $133,000 -91.0%
WEStBRook
1 Family $303,700 -13.7% $257,500 -20.8% 18 -30.8% 178 31.1% $5,467,000 -40.3%
Condo $395,000 15.1% $395,000 9.3% 1 -80.0% 95 -71.7% $395,000 -77.0%
www.bhhsNEproperties.com 26
New Haven County
FAIRFIELD
NEW HAVEN
MIDDLESEX NEW LONDON
WINDHAM
TOLLANDHARTFORDLITCHFIELD
Q3-2016
www.bhhsNEproperties.com 27
New Haven County
1,960 single family homes sold in Third Quarter 2016, up slightly 0.4% YOY, and decreased in sales volume by 0.7% ($510,523,000 vs $514,203,000). Average sales price for single family homes was $260,500, a slight decrease of 1.1%. Average sales price for condominiums was $165,200, a 4.0% increase, and sales volume decreased slightly 0.3% ($83,253,000 vs $83,518,000). In total, 504 condominiums were sold in Third Quarter 2016. Days on market for single family homes was 129 and 135 for condominiums. Average rental prices were $1,607 per month.
Number of Sales
Days on Market
Q4 2014 1826 95
Q3 2014 2172 83
Q2 2014 1949 88
Q1 2014 1221 98
Q4 2013 1796 94
Q1 2015 1328 103
Q4 2014 1892 98
Q3 2014 2200 83
Q2 2014 1975 87
Q1 2014 1230 98
Number of Sales
Days on Market
Q3 2016 2464 130
Q2 2016 2263 137
Q1 2016 1587 147
Q4 2015 2006 136
Q3 2015 2478 130
SINGLE FAMILY AND CONDO RATIO
AVERAGE AND MEDIAN SALES PRICE
0
50000
100000
150000
200000
250000
300000
Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016
AVERAGE AND MEDIAN SALES PRICE
Average Single Family Average Condominium Median Single Family Median Condominium
Q3 2015
Single Family Condominium
Q3 2016
Single Family Condominium
Q3 2015
Single Family Condominium
Q3 2016
Single Family Condominium
CondominiumsSingle Family
Q3-2016
www.bhhsNEproperties.com 28
New Haven CountyAVERAGE SALES PRICE MEDIAN SALES PRICE SALES DAyS oN MARkEt DoLLAR VoLuME
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
ANSoNIA
1 Family $185,600 8.5% $166,500 -0.6% 7 -30.0% 142 -24.0% $1,300,000 -24.1%
Condo $64,900 - $64,900 - 1 - 76 - $65,000 -
BEACoN FALLS
1 Family $400,000 4.8% $400,000 -14.9% 1 -85.7% 335 220.8% $400,000 -85.0%
Condo $453,000 241.9% $453,000 241.9% 1 0.0% 177 121.2% $453,000 241.9%
BEtHANy
1 Family $340,400 -19.1% $345,000 1.8% 27 58.8% 125 -12.2% $9,191,000 28.5%
Condo - - - - - - - - - -
BRANFoRD
1 Family $364,800 -4.7% $322,000 -1.8% 68 -2.9% 167 28.4% $24,809,000 -7.4%
Condo $213,700 25.2% $164,000 5.8% 47 -14.5% 129 -19.6% $10,044,000 7.0%
CHESHIRE
1 Family $340,200 11.0% $319,300 10.6% 82 -10.9% 98 -12.1% $27,894,000 -1.1%
Condo $204,800 -14.6% $178,800 -5.9% 16 -15.8% 95 -34.7% $3,276,000 -28.1%
DERBy
1 Family $142,300 -26.0% $151,000 -18.4% 5 -44.4% 80 -35.7% $712,000 -58.9%
Condo $125,500 - $125,500 - 1 - 216 - $126,000 -
EASt HAVEN
1 Family $191,300 2.7% $183,800 4.6% 76 -5.0% 134 10.5% $14,535,000 -2.4%
Condo $157,100 19.9% $132,000 20.0% 26 18.2% 142 37.1% $4,084,000 41.7%
GuILFoRD
1 Family $410,000 -11.7% $365,000 3.6% 81 -10.0% 148 -5.3% $33,211,000 -20.5%
Condo $201,300 -24.5% $125,500 -44.8% 12 0.0% 116 -24.0% $2,416,000 -24.5%
HAMDEN
1 Family $218,100 2.8% $189,000 5.0% 170 18.9% 138 3.0% $37,080,000 22.2%
Condo $132,200 8.1% $120,500 2.1% 40 -13.0% 145 6.5% $5,286,000 -6.0%
MADISoN
1 Family $490,400 2.6% $402,500 1.6% 76 -17.4% 135 0.2% $37,268,000 -15.3%
Condo $255,800 -9.1% $247,500 -1.0% 9 -18.2% 166 -17.9% $2,303,000 -25.6%
MERIDEN
1 Family $162,500 6.6% $163,000 8.7% 156 3.3% 118 -6.3% $25,356,000 10.1%
Condo $99,200 7.2% $101,000 3.3% 29 -6.5% 120 -14.2% $2,877,000 0.3%
MIDDLEBuRy
1 Family $362,800 20.5% $255,000 -11.0% 35 25.0% 179 30.9% $12,699,000 50.7%
Condo $437,800 9.6% $462,500 20.2% 7 16.7% 368 54.8% $3,065,000 27.9%
MILFoRD
1 Family $328,700 5.0% $290,000 1.0% 178 -2.2% 123 -7.4% $58,507,000 2.7%
Condo $229,400 -3.1% $206,000 0.5% 54 14.9% 131 19.8% $12,387,000 11.3%
NAuGAtuCk
1 Family $156,700 5.0% $159,900 2.5% 85 -1.2% 139 10.2% $13,319,000 3.8%
Condo $87,300 40.3% $70,000 17.7% 22 10.0% 99 26.6% $1,920,000 54.3%
Q3-2016
www.bhhsNEproperties.com 29
New Haven CountyAVERAGE SALES PRICE MEDIAN SALES PRICE SALES DAyS oN MARkEt DoLLAR VoLuME
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
NEW HAVEN
1 Family $238,600 13.2% $180,000 9.1% 101 16.1% 130 -8.9% $24,097,000 31.5%
Condo $158,900 0.4% $143,800 14.7% 58 52.6% 146 -1.3% $9,215,000 53.2%
NoRtH BRANFoRD
1 Family $245,200 3.7% $248,300 0.5% 46 27.8% 142 1.2% $11,278,000 32.5%
Condo $196,000 5.9% $196,000 22.6% 1 -93.7% 151 -2.7% $196,000 -93.4%
NoRtH HAVEN
1 Family $293,200 -0.7% $274,000 3.7% 72 2.9% 102 -7.8% $21,110,000 2.1%
Condo $201,400 4.8% $236,000 12.4% 7 -36.4% 110 29.0% $1,410,000 -33.3%
oRANGE
1 Family $391,200 -2.1% $382,500 3.4% 48 -14.3% 114 -11.2% $18,775,000 -16.1%
Condo $373,000 54.6% $318,000 32.5% 3 0.0% 162 220.8% $1,119,000 54.6%
oXFoRD
1 Family $463,000 15.0% $463,000 13.3% 1 -83.3% 158 79.2% $463,000 -80.8%
Condo $321,000 -15.5% $321,000 -15.5% 1 0.0% 209 86.6% $321,000 -15.5%
PRoSPECt
1 Family $252,500 -2.9% $263,800 0.3% 26 -21.2% 130 12.8% $6,566,000 -23.5%
Condo $376,400 -1.4% $360,000 -5.7% 3 50.0% 232 -26.4% $1,129,000 47.9%
SEyMouR
1 Family $252,500 44.3% $251,800 63.0% 6 -25.0% 141 31.9% $1,515,000 8.2%
Condo $200,000 115.1% $200,000 150.0% 1 -75.0% 159 32.2% $200,000 -46.2%
SoutHBuRy
1 Family $366,200 -3.5% $360,000 -4.0% 67 6.3% 164 15.5% $24,537,000 2.6%
Condo $140,300 -6.7% $129,500 0.8% 64 14.3% 121 6.1% $8,977,000 6.7%
WALLINGFoRD
1 Family $264,900 -2.7% $258,500 -1.7% 134 12.6% 106 -16.0% $35,499,000 9.6%
Condo $192,300 7.1% $183,500 4.9% 40 -14.9% 137 14.2% $7,693,000 -8.9%
WAtERBuRy
1 Family $104,400 10.2% $105,000 10.5% 209 4.5% 133 8.5% $21,811,000 15.1%
Condo $53,500 -10.8% $52,000 0.0% 36 -23.4% 143 10.5% $1,927,000 -31.7%
WESt HAVEN
1 Family $175,600 -0.8% $175,000 6.1% 118 3.5% 117 0.3% $20,717,000 2.7%
Condo $104,200 -12.3% $105,000 1.1% 22 -18.5% 135 -32.8% $2,293,000 -28.5%
WoLCott
1 Family $244,600 9.4% $229,500 4.3% 40 -21.6% 119 -7.1% $9,782,000 -14.2%
Condo $157,600 -19.5% $173,000 -9.2% 3 -25.0% 88 -33.8% $473,000 -39.6%
WooDBRIDGE
1 Family $402,000 -14.8% $395,000 -6.3% 45 -13.5% 106 -4.0% $18,092,000 -26.3%
Condo - - - - - - - - - -
www.bhhsNEproperties.com 30
New London County
FAIRFIELD
NEW HAVEN
MIDDLESEX NEW LONDON
WINDHAM
TOLLANDHARTFORDLITCHFIELD
Q3-2016
www.bhhsNEproperties.com 31
New London County
791 single family homes sold in Third Quarter 2016, up 8.6% YOY. Sales volume increased 6.5% ($191,138,000 vs $179,412,000). 114 condominiums sold, up 4.5% while the average sales price decreased by 1.6%. Sales volume increased for condominiums by 2.8% ($18,890,000 vs $18,367,000). Days on market for single family homes was 145 and 152 for condominiums. Average rental prices were $1,521.
Number of Sales
Days on Market
Q4 2014 577 107
Q3 2014 662 95
Q2 2014 607 97
Q1 2014 417 104
Q4 2013 560 98
Q1 2015 481 99
Q4 2014 761 105
Q3 2014 832 95
Q2 2014 740 97
Q1 2014 507 103
Number of Sales
Days on Market
Q3 2016 984 140
Q2 2016 931 146
Q1 2016 628 160
Q4 2015 731 144
Q3 2015 903 136
SINGLE FAMILY AND CONDO RATIO
AVERAGE AND MEDIAN SALES PRICE
0
50000
100000
150000
200000
250000
300000
Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016
AVERAGE AND MEDIAN SALES PRICE
Average Single Family Average Condominium Median Single Family Median Condominium
Q3 2015
Single Family Condominium
Q3 2016
Single Family Condominium
Q3 2015
Single Family Condominium
Q3 2016
Single Family Condominium
CondominiumsSingle Family
Q3-2016
www.bhhsNEproperties.com 32
New London County
AVERAGE SALES PRICE MEDIAN SALES PRICE SALES DAyS oN MARkEt DoLLAR VoLuMEQTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
BoZRAH
1 Family $193,600 -1.6% $213,500 30.6% 10 25.0% 136 76.3% $1,936,000 23.0%
Condo - - - - - - - - - -
CoLCHEStER
1 Family $236,300 -3.4% $230,000 -1.1% 55 1.9% 128 -2.4% $12,996,000 -1.6%
Condo $186,900 31.8% $155,900 94.9% 11 22.2% 126 27.2% $2,056,000 61.1%
EASt LyME
1 Family $328,900 -10.1% $283,000 -5.7% 61 0.0% 133 3.6% $20,065,000 -10.1%
Condo $208,200 -14.1% $175,000 -25.5% 23 35.3% 133 2.1% $4,789,000 16.2%
GILMAN
1 Family $337,900 39.3% $337,900 39.3% 1 0.0% 111 94.7% $338,000 39.3%
Condo - - - - - - - - - -
GRISWoLD
1 Family $162,600 -2.3% $157,500 -4.5% 40 -13.0% 120 -3.5% $6,503,000 -15.0%
Condo $64,100 22.8% $64,100 -3.7% 2 -33.3% 288 240.2% $128,000 -18.1%
GRotoN
1 Family $288,500 3.1% $235,000 -5.1% 99 12.5% 130 -15.2% $28,559,000 15.9%
Condo $150,200 -14.4% $125,000 -18.3% 31 40.9% 102 -36.9% $4,655,000 20.6%
LEBANoN
1 Family $203,300 15.2% $215,000 22.2% 41 105.0% 127 -26.2% $8,334,000 136.1%
Condo - - - - - - - - - -
LEDyARD
1 Family $235,400 9.8% $223,000 0.2% 76 31.0% 129 20.7% $17,894,000 43.8%
Condo $101,000 79.7% $101,000 79.7% 2 0.0% 90 -50.1% $202,000 79.7%
LISBoN
1 Family $143,300 -35.6% $151,300 -23.8% 12 -7.7% 131 -29.0% $1,719,000 -40.6%
Condo - - - - - - - - - -
LyME
1 Family $508,000 -22.6% $482,500 50.8% 12 71.4% 204 7.0% $6,096,000 32.7%
Condo - - - - - - - - - -
MoNtVILLE
1 Family $199,600 8.2% $191,500 9.1% 70 14.8% 122 0.6% $13,970,000 24.2%
Condo $77,300 106.0% $65,000 73.3% 4 300.0% 109 -60.9% $309,000 724.0%
NEW LoNDoN
1 Family $176,400 16.9% $155,000 14.9% 43 -6.5% 91 -9.8% $7,584,000 9.3%
Condo $154,600 -26.4% $142,000 -4.2% 13 225.0% 213 -10.4% $2,010,000 139.1%
NoRtH FRANkLIN
1 Family $221,600 38.8% $200,000 25.1% 10 100.0% 171 54.5% $2,216,000 177.5%
Condo - - - - - - - - - -
NoRtH StoNINGtoN
1 Family $293,700 17.7% $238,900 7.4% 19 -20.8% 157 18.6% $5,580,000 -6.8%
Condo - - - - - - - - - -
Q3-2016
www.bhhsNEproperties.com 33
New London County
AVERAGE SALES PRICE MEDIAN SALES PRICE SALES DAyS oN MARkEt DoLLAR VoLuMEQTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
NoRWICH
1 Family $130,500 21.4% $130,300 27.7% 82 -5.7% 137 4.2% $10,698,000 14.4%
Condo $85,700 -27.7% $84,500 -17.6% 24 26.3% 185 -1.5% $2,056,000 -8.7%
oLD LyME
1 Family $365,200 -11.1% $325,000 5.9% 37 23.3% 206 24.5% $13,514,000 9.6%
Condo $252,500 - $252,500 - 1 - 248 - $253,000 -
PREStoN
1 Family $210,800 -0.1% $210,000 6.3% 15 -11.8% 142 19.3% $3,163,000 -11.8%
Condo - - - - - - - - - -
SALEM
1 Family $301,300 39.4% $249,900 16.2% 13 0.0% 160 26.6% $3,917,000 39.4%
Condo $44,300 50.0% $44,300 50.0% 2 100.0% 153 263.1% $89,000 200.0%
SPRAGuE
1 Family $192,800 10.9% $196,000 -2.0% 9 12.5% 126 8.5% $1,735,000 24.7%
Condo - - - - - - - - - -
StoNINGtoN
1 Family $414,300 9.6% $362,500 16.9% 54 -16.9% 221 64.0% $22,373,000 -9.0%
Condo $220,800 -55.3% $227,500 -49.4% 8 14.3% 195 -22.8% $1,766,000 -48.9%
VoLuNtoWN
1 Family $174,500 -9.2% $187,500 -0.3% 7 -36.4% 120 -34.6% $1,222,000 -42.2%
Condo - - - - - - - - - -
WAtERFoRD
1 Family $245,100 -1.8% $205,500 -8.7% 84 1.2% 133 -5.3% $20,589,000 -0.6%
Condo $156,600 -1.4% $168,000 7.3% 8 -33.3% 84 -30.4% $1,253,000 -34.3%
www.bhhsNEproperties.com 34
Tolland County
FAIRFIELD
NEW HAVEN
MIDDLESEX NEW LONDON
WINDHAM
TOLLANDHARTFORDLITCHFIELD
Q3-2016
www.bhhsNEproperties.com 35
0
50000
100000
150000
200000
250000
300000
Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016
AVERAGE AND MEDIAN SALES PRICE
Average Single Family Average Condominium Median Single Family Median Condominium
Tolland County
There were 461 single family homes sold in Third Quarter 2016, down 5.3% YOY. Sales volume went down 2.4% ($111,940,000 vs $114 803,000), and average sales price was $242,800, a 3.0% increase YOY. Condominium sales decreased 11.27% with 63 units sold in Third Quarter 2016. Sales volume decreased $10,414,000 compared to $10,529,000, down 1.0% YOY. Average price for condominiums was $165,300 in Third Quarter 2016, an increase of 11.4%. Average days on market was 126 for single family homes and 151 for condominiums. Average rental prices were $1,414 per month.
Number of Sales
Days on Market
Q4 2014 577 107
Q3 2014 662 95
Q2 2014 607 97
Q1 2014 417 104
Q4 2013 560 98
Q1 2015 481 99
Q4 2014 761 105
Q3 2014 832 95
Q2 2014 740 97
Q1 2014 507 103
Q1 2015 229 95
Q4 2014 339 90
Q3 2014 476 75
Q2 2014 390 85
Q1 2014 246 104
Number of Sales
Days on Market
Q3 2016 524 129
Q2 2016 459 135
Q1 2016 275 151
Q4 2015 389 144
Q3 2015 558 125
SINGLE FAMILY AND CONDO RATIO
AVERAGE AND MEDIAN SALES PRICE
Q3 2015
Single Family Condominium
Q3 2016
Single Family Condominium
Q3 2015
Single Family Condominium
Q3 2016
Single Family Condominium
CondominiumsSingle Family
Q3-2016
www.bhhsNEproperties.com 36
Tolland CountyAVERAGE SALES PRICE MEDIAN SALES PRICE SALES DAyS oN MARkEt DoLLAR VoLuME
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
AMStoN
1 Family $248,300 12.1% $258,000 12.7% 17 -10.5% 149 9.2% $4,220,000 0.3%
Condo - - - - - - - - - -
ANDoVER
1 Family $241,100 12.2% $255,000 8.5% 8 -38.5% 100 5.0% $1,929,000 -31.0%
Condo - - - - - - - - - -
BoLtoN
1 Family $288,400 2.9% $252,000 5.7% 16 0.0% 134 20.2% $4,614,000 2.9%
Condo - - - - - - - - - -
CoLuMBIA
1 Family $226,200 8.6% $232,800 17.8% 24 -7.7% 154 -20.2% $5,428,000 0.3%
Condo - - - - - - - - - -
CoVENtRy
1 Family $238,300 8.1% $230,000 0.0% 41 -30.5% 98 -17.3% $9,769,000 -24.9%
Condo $164,000 18.1% $164,000 26.2% 2 -60.0% 628 276.0% $328,000 -52.7%
ELLINGtoN
1 Family $270,400 -10.9% $257,000 1.9% 59 13.5% 137 21.0% $15,953,000 1.1%
Condo $134,700 -38.6% $98,000 -62.7% 7 -36.4% 173 -2.0% $943,000 -60.9%
HEBRoN
1 Family $289,400 11.4% $270,300 -2.6% 24 84.6% 155 24.4% $6,947,000 105.7%
Condo $252,000 31.0% $252,000 50.9% 2 -33.3% 84 -20.9% $504,000 -12.7%
MANSFIELD
1 Family $237,600 2.3% $231,000 6.2% 43 34.4% 134 4.9% $10,215,000 37.4%
Condo $160,200 -1.6% $171,300 28.8% 16 33.3% 131 6.2% $2,563,000 31.1%
SoMERS
1 Family $345,300 23.5% $265,000 4.3% 35 -10.3% 98 -26.5% $12,085,000 10.8%
Condo $319,500 - $373,200 - 4 - 96 - $1,278,000 -
StAFFoRD
1 Family $197,300 5.6% $205,000 16.8% 48 9.1% 135 -7.3% $9,471,000 15.2%
Condo $48,000 -47.7% $48,000 -31.4% 1 -80.0% 133 2.0% $48,000 -89.5%
toLLAND
1 Family $265,600 -7.6% $253,500 -11.7% 50 -19.4% 111 16.8% $13,281,000 -25.5%
Condo $202,000 20.4% $176,000 40.8% 6 50.0% 171 -43.6% $1,212,000 80.6%
uNIoN
1 Family $193,500 110.0% $193,500 110.0% 1 -50.0% 258 8.2% $194,000 5.0%
Condo - - - - - - - - - -
VERNoN
1 Family $179,200 -5.4% $176,400 -4.2% 80 -11.1% 124 2.5% $14,336,000 -15.9%
Condo $147,400 18.7% $130,500 20.3% 24 -20.0% 123 17.9% $3,539,000 -5.1%
WILLINGtoN
1 Family $233,300 13.1% $220,000 11.7% 15 -25.0% 124 30.9% $3,500,000 -15.1%
Condo $900 -97.4% $900 -97.4% 1 0.0% - - $1,000 -97.4%
www.bhhsNEproperties.com 37
Windham County
FAIRFIELD
NEW HAVEN
MIDDLESEX NEW LONDON
WINDHAM
TOLLANDHARTFORDLITCHFIELD
Q3-2016
www.bhhsNEproperties.com 38
0
50000
100000
150000
200000
250000
Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016
AVERAGE AND MEDIAN SALES PRICE
Average Single Family Average Condominium Median Single Family Median Condominium
Windham County
There were 399 single family homes sold in Third Quarter 2016, up 0.5% YOY. Sales volume increased 3.5% ($73,339,000 vs $70,339,000), and average sales price was $183,800, up 6.0%. 23 condominiums were sold in Third Quarter 2016, down 4.1%. Sales volume jumped 12.6% ($3,466,000 vs $3,077,000), and average sales price jumped 17.5% YOY with an average price of $127,500 in Third Quarter. Average days on market was 127 for single family homes and 125 for condominiums. Average rental prices were $1,230 per month.
Number of Sales
Days on Market
Q3 2014 112 87
Q2 2014 110 98
Q1 2014 70 97
Q4 2013 92 107
Q3 2013 98 88
Number of Sales
Days on Market
Q4 2014 212 95
Q3 2014 262 87
Q2 2014 220 101
Q1 2014 149 108
Q4 2013 207 108
Q1 2015 193 100
Q4 2014 287 100
Q3 2014 341 86
Q2 2014 301 98
Q1 2014 190 101
Number of Sales
Days on Market
Q3 2016 422 127
Q2 2016 389 149
Q1 2016 292 143
Q4 2015 365 143
Q3 2015 421 137
SINGLE FAMILY AND CONDO RATIO
AVERAGE AND MEDIAN SALES PRICE
Q3 2015
Single Family Condominium
Q3 2016
Single Family Condominium
Q3 2015
Single Family Condominium
Q3 2016
Single Family Condominium
CondominiumsSingle Family
Q3-2016
www.bhhsNEproperties.com 39
Windham CountyAVERAGE SALES PRICE MEDIAN SALES PRICE SALES DAyS oN MARkEt DoLLAR VoLuME
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
ASHFoRD
1 Family $157,300 2.5% $155,000 -6.1% 20 122.2% 141 11.9% $3,146,000 127.7%
Condo - - - - - - - - - -
BRookLyN
1 Family $220,700 16.9% $215,000 3.9% 31 6.9% 101 -1.8% $6,840,000 25.0%
Condo $197,000 -3.9% $197,000 -3.9% 2 0.0% 218 -12.1% $394,000 -3.9%
CANtERBuRy
1 Family $230,500 31.9% $239,900 23.0% 21 5.0% 133 -20.6% $4,840,000 38.5%
Condo - - - - - - - - - -
CHAPLIN
1 Family $187,200 24.6% $180,000 18.4% 11 37.5% 173 39.1% $2,059,000 71.4%
Condo $57,800 - $57,800 - 1 - 88 - $58,000 -
EAStFoRD
1 Family $237,000 4.8% $227,000 7.7% 4 -33.3% 62 -63.4% $948,000 -30.2%
Condo - - - - - - - - - -
HAMPtoN
1 Family $311,900 101.5% $260,000 66.7% 7 0.0% 175 69.0% $2,183,000 101.5%
Condo - - - - - - - - - -
kILLINGLy
1 Family $170,300 5.8% $165,300 6.6% 73 17.7% 126 4.3% $12,432,000 24.5%
Condo $144,200 57.4% $139,900 89.1% 7 16.7% 143 19.4% $1,010,000 83.6%
PLAINFIELD
1 Family $148,800 -12.5% $145,000 -8.2% 49 -18.3% 125 6.1% $7,293,000 -28.5%
Condo $152,000 53.6% $152,000 103.5% 1 -66.7% 88 -7.0% $152,000 -48.8%
PoMFREt
1 Family $275,100 5.8% $258,800 -1.6% 14 7.7% 151 8.9% $3,852,000 13.9%
Condo - - - - - - - - - -
PutNAM
1 Family $151,000 -9.7% $152,500 -0.8% 24 0.0% 128 -14.7% $3,624,000 -9.7%
Condo $179,700 11.3% $185,000 5.7% 7 0.0% 127 -45.3% $1,258,000 11.3%
QuINEBAuG
1 Family $54,900 5.7% $54,900 5.7% 1 -50.0% 84 -47.2% $55,000 -47.2%
Condo - - - - - - - - - -
SCotLAND
1 Family $165,000 -30.1% $165,000 -30.1% 2 100.0% 403 31.7% $330,000 39.8%
Condo - - - - - - - - - -
StERLING
1 Family $190,600 6.7% $186,800 8.7% 14 -22.2% 112 -17.6% $2,669,000 -17.0%
Condo - - - - - - - - - -
tHoMPSoN
1 Family $192,600 -1.9% $198,700 -0.1% 35 0.0% 130 -10.7% $6,742,000 -1.9%
Condo - - - - - - - - - -
Q3-2016
www.bhhsNEproperties.com 40
Windham CountyAVERAGE SALES PRICE MEDIAN SALES PRICE SALES DAyS oN MARkEt DoLLAR VoLuME
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
QTR 32016
%CHG15-16
WINDHAM
1 Family $114,300 -7.2% $120,000 1.7% 54 -6.9% 116 -21.8% $6,174,000 -13.6%
Condo $129,000 7.9% $129,000 7.9% 1 -50.0% 49 -16.2% $129,000 -46.0%
WooDStoCk
1 Family $260,300 0.5% $264,900 10.4% 39 -13.3% 128 -13.0% $10,151,000 -12.9%
Condo $116,400 -13.6% $127,000 -5.8% 4 100.0% 82 -50.2% $465,000 72.8%