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Some Newtown Real Estate Statistics for 2012

Understanding the state of the current local market

It is easy to wonder about the state of our local real estate market when we are gathering much of our information each week from national headlines, stories we hear from our neighbors at the grocery store and seeing the multitude of signs go up each month around town. I took some time over the last week to gather some statistics about what we refer to in the business as the "absorption rate" for our market. The absorption rate is the rate at which it would take for our house inventory to sell out. Here are some real numbers that we can talk about.

  • There are currently 315 houses listed in Newtown.
  • 66 of those homes are currently Under Deposit or Pending.
  • 315 minus the 66 equals 249 still available.
  • Between January 1 and May 1, 69 homes sold in Newtown
  • That is an average of 14 per month.

This is referred to as the "Absorption Rate" or how fast the inventory is drawing down.

  • At this current rate of absorption we have approximately 17 months of inventory.

This news good. We have run over 24 months of inventory at times over the last several years so 17 month is not so bad. If the absorption rate continues to get better then moving towards 12 months inventory will be cause for celebration.

These are good statistics to help us understand our market.The good news for me is that closings in January, February and March were 12, 16 and 16.

April jumped up to 23 sold and with 66 homes currently under deposit it appears that the trend is going to continue up. We typically have a spring market surge, so we will have to wait and see if the 66 homes are a spring market surge or a general increase in buyers.

Seller Tip: Make sure you calculate the actual monthly cost of staying in your home including, taxes, insurance, maintenance etc. Sometimes the amount a seller is losing by staying in their home far outweighs a price reduction to get it sold.

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

Alex Tytler May 15, 2012 at 11:21 PM
http://www.zerohedge.com/news/will-america-ever-recover-housing-crisis-real-estate-infographic
Helmet March 31, 2013 at 01:21 AM
If the politicians keep spending money like they got it things will continue to decline. Giving money away to every social program, rewarding bad behavior, etc. the housing market in Newtown will also get worse if they enact some more rediculous firearms legislation. Companies will be moving out of ct, thousands of jobs lost, lost tax revenue, and we are over a billion in debt! Extend unemployment benefits, pay unwed mothers to have kids, give everyone free health cars, give them free phones.... And you expect taxes to go down? What are you smoking'? Ct. Is becoming fantasy island, rediculous. Take a hand gun course and get a pistol permit.
Helmet March 31, 2013 at 02:12 AM
Now they are raising the mill rate because home prices have plumeted, get some industry in Newtown, get some corporate tax base, do something with the insane asylum, how about an open air shopping center. The tax payers can't take it any more. It's time you vote Helmet into office and lower the mill rate and taxes. We are not living in Beverly Hills here, there are things we can do to enhance our lives without putting a Kentucky fried chicken on every corner, but we need to act, now. They can't keep raising taxes and the mill rate without offering more to us. What are we waiting for?
JJHL March 31, 2013 at 12:07 PM
I wonder why this story is showing up under "Stories of the week" when the article is almost a year old? Anyway, I'm with you, Helmet! I'm an optimist but also a realist...c'mon people, get your head out of the sand! The "economic development" in this town is useless. It's plain common sense that the town needs to attract corporations and other businesses. Several ideas including an open air shopping and recreation area have been discussed for YEARS at Fairfield Hills. What will it take to entice businesses to get that ball rolling and make it happen? We need to be a destination for people to come and spend their money in town. Frustrating. If my house hadn't plummeted in value since I bought it 7 years ago, I'd be putting it on the market too, but for now I'm stuck here, and I'm not confident the market will ever be that great. I'd vote for you in a second, Helmet, but I'm afraid there are too many Liberals that want to keep throwing money around and make bad decisions, like somehow that's going to help. Sensible spending and keeping within a budget is what's really needed, but will likely never happen.
Helmet March 31, 2013 at 01:05 PM
I got my first vote! Economic development is paramount to reduce taxes. We only need a few more fish to creat some meaningful income. Getting Fairfield Hill going could reall make substantial income. Vote for Helmet, my slogan should be... " Put Helmet In" With some income we could still fund every liberal cause and spend money like drunken Sailors, but at least we would have some income from other sources than home owners. We could start with Newtown , than fix the State of Ct. than fix the Country leading by example....that could probobly never happen, we give money away at an alarming rate. Come to think of it, maybe I should start collecting. Why work? I can get free health care,food stamps,free phone, unemployment, more money for every kid I have. I will probobly not run for office, too much work. I would rather do nothing and collect from the city and state. Who cares about taxes anyway? 50 percent don't pay taxes anyway, but they are the ones collecting. I you want free vote for me. That should be campaign slogan.

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