Marabeth Gildersleeve

Market Report for Middletown for September and 1^st 3 Quarters

Residential

September
Active - 152
New Listings - 52
Deposits - 20
Closed - 24
Average Sale Price - $211,372
SP/Sq.Ft - $145.12
DOM - 55

1/1/2008 - 9/30/2008
Closed - 199
Average Sale Price - $253,137 Median Sale Price - $228,000
SP/Sq.Ft. - $155.08
DOM - 65

1/1/2007 - 9/30/2007
Closed - 309
Average Sale Price - $268,082 Median Sale Price - $250,500
SP/Sq.Ft. - $156.91
DOM -60

Number of sales are down 36% compared to last year. Average sale prices are down 5.6% and median sale prices are down 9%. September saw a drop of 16.5%compared to the first 9 months of the year. Hopefully this is not a trend.

Condominiums

September
Active - 76
New Listings - 27
Deposits - 10
Closed - 15
Average Sale Price - $161,533
SP/Sq.Ft - $142.54
DOM - 72

1/1/2008 - 9/30/2008
Closed - 136
Average Sale Price - $169,319 Median Sale Price - $154,000
SP/Sq.Ft. - $149.94
DOM - 82

1/1/2007 - 9/30/2007
Closed 182
Average Sale Price - $161,523 Median Sale Price - $156,100
SP/SqFt - $146.08
DOM - 48

Sales are down 25.3% compared to last year. Average sale price is up 4.8% and median is down by 1.4%. Overall condo sales are faring better than residential.

Portland Market Report for September and 1^st 3 Quarters

Residential

September

Active Listings - 60
New Listings - 10
Deposits - 5
Closed - 4
Average Sale Price - $285,500
SP/SqFt - $131.17
DOM -60

1/1/2008 - 9/30/2008

Closed - 63
Average Sale Price - $274,058 Median Sale Price - $255,000
SP/SqFt - $157.91
DOM - 62

1/1/2007 - 9/30/2007

Closed - 72
Average Sale Price - $270-652 Median Sale Price - $258,000
SP/Sq.Ft - $150.84
DOM - 61

Overall sales are down by 12.5%. Average sale prices are up by 1.3%, but median sale prices are down by 1.2 %. Again Portland seems to be holding its own with no major changes in prices.

Glastonbury Market Report for Sept. and 1^st 3 Quarters

Residential

September
Active Listings - 180
New in Sept. - 58
Deposits - 24
Closed - 24
Avg.Sale Price - $421,737
SP/Sq.Ft. - $173.13
Avg.DOM - 43

Closed 1/1/2008 - 9/30/2008
249
Avg. Sale Price - $451,985
SP/Sq.Ft - $176.55
DOM- 60

Closed 1/1/2007 - 9/30/2008
300
Avg.Sale Price - $448,856
SP/Sq.Ft - $181.53
DOM -53

Comparing last year to this year sales are down by 17%, but the average sale price is up very minimally. Looking at September compared to the 1^st 3 quarters the average sale price is down 6.7%. Hopefully this is not a trend.

Condominiums

September
Active Listings - 35
New in September - 11
Deposits - 6
Closed - 7
Avg. Sale Price - $230,771
SP/Sq.Ft. - $158.98
DOM - 66

Closed 1/1/2008 - 9/30/2008
Closed - 75
Avg. Sale Price - $205,743
SP/Sq.Ft. - $161.44
DOM - 62

Closed 1/1/2007 - 9/30/2007
Closed - 129
Avg.Sale Price - $205,415
SP/Sq.Ft - $165.01
DOM - 46

Comparing last year to this year sales are down 42%, but prices remain realtively unchanged.

Portland Market Report - Comparison First Quarter 2007 to First Quarter 2008

Residential

1/1/2007 - 3/31/2007

Closed Sales - 19
Average Sale Price - $287,489
Average Price/Sq.Ft. - $149.46
Average Days on Market - 79

1/1/2008 - 3/31/2008

Closed Sales - 16
Average Sale Price - $ 278,038
Average Price/Sq.Ft. - $158.39
Average Days on Market - 53

Overall number of sales are down 15.8% and prices are down by 3.3%. This isn't too bad. There are only 55 homes on the market so the inventory has not gone up.

Middletown Market Report - First Quarter of 2007 and First Quarter of 2008

Residential

1/1/2007 - 3/31/2007

Closed Sales - 89
Average Sale Price - $264,732
Average Price/Sq.Ft - $155.03
Average Days on Market - 66

1/1/2008 - 3/31/2008

Closed Sales 51
Average Sale Price - $255,733
Average Price/Sq.Ft. - $163.02
Average Days on Market - 64

Overall the number of sales are down 42.7%, a major drop. Prices are down 3.4% which isn't too bad and days on the market are about the same. There are 164 homes on the market.

Condominiums

1/1/2007 - 3/31/2007

Closed Sales - 48
Average Sale Price - $165,977
Average Price/Sq.Ft - $142.16
Average Days on Market - 51

1/1/2008 - 3/31/2008

Closed Sales - 44
Average Sale Price - $181,718
Average Price/Sq.Ft - $153.04
Average Days on Market - 58

The number of sales are down 8.4%, but the prices are up by 9.5%. The condo market in Middletown seems to be faring better than the housing market. There are 89 condos on the market.