Real Estate Information Archive


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Today Show Statistics

by Michael Marsden

Today's broadcast interviews Erin Bernette from CNBC. Although she reported that homesales dropped 8% this month nationwide there was a bit of a silver lining to New England's cloud. Existing home sales dropped 27.8% in the west, 18.7% in the south from Texas to the the east coast, 16.2 in the northern midwest, and 13.5% in New England. As I reported in my earlier blog post, locally we're actually ahead 20% in the number of closings.


Existing home prices were another thing all together. Western states showed the largest decline in values at 8.8%, in the south down 5.5%, midwest up 1.4%, and in New England a rise in value at a modest .5%.


3rd Quarter Statistics for the CT Shoreline and Lower CT River Valley

by Michael Marsden

The Shoreline and Lower CT River Valley First I apologize for taking so long in reporting our local statistics. You might say I am a victim of my own success. I've been really busy with closings, new contracts, many active buyers, and new listings which had to come first! That said there's great news about our market! Each time I compile our local numbers I am afraid of what I'll see. Each morning on the Today show and CNN the pundits talk about the Real Estate market, the lending crisis, and how this will affect us all. However, 3rd quarter 2007 when compared to 3rd quarter 2006 showed us screaming ahead in the number of closings by 28% with an increase of sales volume of 33%. These numbers are for single family homes in my 23 town service area on the Connecticut shoreline and the lower Connecticut River Valley. This is why we continually say that real estate is truly a local market. So how about what sellers are really getting? My stats show that sellers are getting between 90 % and 97% of asking price. The only exception I see is Lyme/Hadlyme at 86%. I mentioned last month that it might be that the average asking pricing is well into the 7 figures and there's more movement in price in the upper end than in the lower end. There were 510 new listings added to the inventory last month bringing out total single family home inventory to 1,587. I reported 2,227 in my podcast interview with Joe this month, but that was in error. 2,227 included condos, land, and multi-family listings too. Sorry about that. In closing, the absorption rate jumped from 7.5 to 10.5 months which is on par when looking back at 2006. The absorption rate is the number of months it would take to sell the entire inventory on hand if nothing was added during that time. Another way to look at it is this is the number of months it might take you to sell your home. However, good marketing, preparation, and proper pricing will sell a home way sooner. For example, I was able to bring over 12 prospects to an August listing in E Haddam in the $350K price range, a price point with tons of competitive listings, have put it under contract and will close October 30th. That's just 2 months!

My Easy Green Home!

by Michael Marsden

Announcing a company that makes building a zero energy or high performance, green, ecologically sensitive home simple and affordable. To the world your home will look the same. To you, it will make a world of difference. You don't have to be an environmentalist to love not paying energy bills! We will build a home for you that will be 75% to 80% more efficient than a home you might build conventionally. Most think that it will take 15 years to break even before it pays you back, however, our team of financial analysts, green mortgagees, energy designers and engineers, and our builder with 35 building experience will deliver a home where the extra you invest to create eco-friendly, high performance home can be paid up in about 5 years. With the ever rising cost of energy the pay back will just get better and better. I believe that years from now the resale value of our home will be worth more given its energy efficiency. I hope to have our website up and running in the next couple of weeks, but don't let that stop you for calling 860.334.1379 now. If you're in the market to build a new home you owe it to yourself to at least talk to us. WE'RE SO SURE THAT THE HOME WE BUILD FOR YOU WILL BE SO EFFICIENT THAT WE'LL PAY YOUR FIRST TWO YEARS OF ENERGY BILLS!

Interesting Statistics from NAR

by Michael Marsden

Monthly Internet Traffic Report Highlights - July 2007 Unique Visitors: 5.72 M - July ‘07 (6.79 M - July ‘06) 5.29 M - June ‘07 Avg. Minutes per Visit: 14.7 min - July ‘07 (13.8 min - July ‘06) 14.6 min - June ‘07 Avg. Page Views per Visit: 17.3 - July ‘07 (24.9 - July ‘06) 16.9 - June ‘07 Total Visits: 12.6 M - July ‘07 (15.6 M - July ‘06) 11.6 M - June ‘07 Total Page Views: 218 M - July ‘07 (395 M - July ‘06) 197 M - June ‘07 Unique Visitors: 725,223 - July ‘07 (671,461 - July ‘06) 757,015 - June ‘07 Avg. Minutes per Visit: 7.9 min - July ‘07 (7.9 min - July ‘06) 7.9 min - June ‘07 Avg. Page Views per Visit: 3.9 - July ‘07 (4.1 - July ‘06) 3.9 - June ‘07 Total Visits: 1,050,184 - July ‘07 (999,912 - July ‘06) 1,105,647 - June ‘07 Total Page Views: 4.1 M - July ‘07 (4.1 M - July ‘06) 4.3 M - June ‘07 Stats Source: comScore Media Metrix (MM). Stats Source: WebTrends logs, WebTrends Enterprise Edition. Reports 2/07 onward exclude NAR staff traffic.

Displaying blog entries 1-4 of 4