Trumbull Market Update – 3rd Quarter, 2016

Thanks for stopping by.  Here’s what’s happening in our local Trumbull Real Estate Market.  Part I is a summary and  Part II follows with all the detailed graphs for those interested…

PART I- SUMMARY- Trumbull Market:

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Part II – All the Details:

I. About our Trumbull Real Estate Market:

  1. Trending… Active VS. Pending:
  • Shows the desirability of our houses in our Trumbull market
  • The closer the lines are to converging, the higher the interest in our homes in town
  • The closer the lines are to converging, the more desirable the homes are and higher the probability our house will appreciate.
  • The closer the lines are to converging, the fewer homes are available with many under contract.
  • Because our real estate market is seasonal, it is best to compare our market trends same season last year.
  • Q3 2016 saw active homes peak at 185 and then began to drop after school started and ended the quarter at 160.  The pending story continues to remain strong.  We entered July at 34 and ended the quarter at 43.  Active homes falling off while pending sales at significant levels. This is a healthy trend as fewer homes on the market ultimately translates to higher prices… a place we’d all like to get to.

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Trumbull Homes Sold per year

Trumbull Homes Sold per quarter

Looking at our Trumbull market, homes priced from $350k to $450k had significantly more sales in 2016 vs. 2015 while the higher priced home sales suffered a bit.  In addition, the $350k to $450k price range outperformed sales in Q3 2016 vs. Q3 2015. Finally, Q3 2016 was not very kind for homes $850k and above….zero sales!

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A quick note about us:

  • Local high performance real estate team headquartered in Trumbull
  • Raised my family in Trumbull and owned a successful real estate business for the past 12 years here in Trumbull
  • We’ve been around the soaring markets of 2003 and the deflated markets starting in 2005
  • We’ve made money and lost money in these markets and learned a TON
  • I’m a retired Network Engineer and understand the value of good information and how to interpret it
  • Our intention is to present information about your real estate market and your home to help you make great decisions when it’s your time to buy or sell real estate.
  • It is also our desire to become your local real estate team of choice and it would be our privilege to represent you in a transaction when you’re ready to buy, sell or invest in real estate.

 

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