I look forward to what 2009 has in store, I am cautiously optimistic that the spring season will usher in the calm.  (that would be my crystal ball report!)

But allow me to deal in some real numbers for the 3rd quarter of 2008 as compiled in very factual form by Prudential Connecticut Realty’s own Barry Rosa, I read the whole report and you can too at www.prudentialct.com it is to the right of the main page (eleven pages long, per county separated by residential and condominiums).  For the purpose of my blog, I deal in residential sales in New London and Windham Counties:

New London County  (Groton, Bozrah and East Lyme all had modest price gains)

For nine months so far in 2008, here are the facts:

Days on Mkt                                     Median Sales Price                          Total # of unit sold

140                                                   $255,000                                        1316

For the same nine months in 2007, here are the facts:

Days on Mkt                                     Median Sales Price                           Total # of units sold

138                                                   $280,000                                        1903

Notes:  Median means just a many above as below, there is an 8.9% drop in house prices in year to year comparison, units sold are 30.8% less in 2008

Windham County (Wauregan and Woodstock both had modest price gains)

So far for 2008:

Days on Mkt                                    Median Sales Prices                           Total # Units Sold

138                                                  $205,000                                           613

Same months in 2007

Days on Mkt                                     Median Sales Price                             Total # of Units sold

143                                                  $230,000                                            717

Notes:  That is a 10.1% drop in house price and a 14.5% drop in total units sold

So, I suspect that now that it is being called a recession, maybe that means we are on our way out?  Cross your fingers and read the NAR economic report linked below.

http://www.realtor.org/research/reinsights/economistcommentary

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