Real Estate Lessons from Lisa Orme, Realtor®

MARKET REPORT - BLOOMFIELD, CT - Activity for September 2010

Welcome to the Bloomfield Real Estate Market Update

presented by The Master's Key Realty for the

Month of September 2010. 

 

RESIDENTIAL SINGLE FAMILY HOMES

Currently there are 162 actively listed Residential Homes in Bloomfield, CT. Of these, 40 were listed during the month of September. 

These homes range from a 4 BR Cape (1284 sq.ft., 1 bath, no garage) for $69,900 on 92 Glenwood Drive, up to a 5 BR Contemporary  (3582 sq.ft., 11 rooms-3 full, 1half baths, 2 car garage) listed for $698,876 at 21 Gale Road.  The average price of the actively listed properties in the town of Bloomfield is $254,020.

92 Glenwood Drive,Bloomfield CT   30 Rundelane, Bloomfield, CT - $249,900  21 Glae Road, Bloomfield CT

SALES ACTIVITY:

There are 20 homes currently under deposit in Bloomfield CT - eight of these went under contract during the month of September. The asking prices on these homes ranged from $119,000 to $409,000, averaging $217,063.

In addition, 13 properties were sold (closed sales) in Bloomfield during the month of September, ranging from $115,000 to $320,000, with an average closed price of $229,223. Closed sales were on the market from 7 days to 480 days before going under deposit; the average days on market was 169.

    

71 Duncaster Road, Bloomfield, CT  8 Lynn Circle, Bloomfield, CT  49 Englewood, Bloomfield, CT

With 13 homes selling in one month, and 162 homes on the market, the absorption rate is 13-15. This means that it would take 13 to 15 months to absorb the current inventory of homes now on the market. If you are thinking about selling your home in Bloomfield, CT, this should help you determine the most suitable pricing on your house for sale to meet your desired selling time.

 

CONDOMINIUMS

Currently there are 37 actively listed Condominiums in Bloomfield, CT. Of these, five were listed during the month of September. 

These homes range from a Wintonbury Place condo for $75,900 up to a Gillette Ridge new construction condominium listed for $594,40000.  The average price of the actively listed condos in the town of Bloomfield is $278,400.

There were no new deposits on condominiums taken in Bloomfield CT in September, with three condominiums under deposit awaiting close of escrow which went under contract in previous months.

There were six condos sold in Bloomfield, CT in the month of September ranging from $68000 to $450,000. Five of the six sales were under $180,500. The average price of sold condos in Bloomfield CT was $201,067., with an average days on market of 83 (ranging from 5 -262 days on market). 

With an average of six condominiums selling in one month, and 37 condos on the market, the absorption rate is 6-7. This means that it would take 6-7 months to absorb the current inventory of homes now on the market. If you are thinking about selling your condominium home in Bloomfield, CT, this should help you determine the most suitable pricing on your condo for sale to meet your desired selling time.

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If you are thinking about buying or selling a home in the Bloomfield CT area or any of its surrounding towns, please call me for a personal consultation. I would be more than happy to discuss marketing and pricing strategies, and how absorption rates affect your pricing, or to answer any other questions you may have about real estate.

If you know somebody who is having difficulty in the current economy and struggling with their mortgage payment and doesn't know what to do, I may be able to help them, especially if they are facing foreclosure! Please suggest they give me a call.  All referrals will be handled professionally and confidentially, just as you would expect!

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Serving the North Central Connecticut region, Hartford County, and the communities of Windsor, Bloomfield, Hartford, East Hartford, South Windsor, Manchester, Windsor Locks, Suffield, Enfield, East Windsor, Somers and the Granbys...

Opening Doors to Home Ownership . . . The Master's Key . . .

Residential Sales, Short Sales and Foreclosure Prevention, Multi-Family and Investment Properties, Condominium and Property Management

Lisa Orme on LINKED INRealtor logoThe Master's Key Realty fan page           LISA ORME        Lisa Orme on TWITTEREqual HousingRSS

 

Licensed in the State of Connecticut, ABR, CRS, GRI, PSCS, SFR, Notary Public, Lic. #REB.755648

 Broker/Owner of The Master's Key Realty LLC, 340 Broad Street, #320, Windsor, Connecticut 06095

To contact Lisa, call 860-688-1400 or send an e-mail to lisa@masterskeyrealty.com

Copyright, Lisa Orme, 2010.  All rights reserved.

Comment balloon 4 commentsLisa Orme • October 06 2010 12:48PM
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