Tuesday, November 23, 2010

Milford Forclosures Near 20% According To Trulia

The following snapshot is from Trulia, and is their assessment of the real estate market in Milford. Recently Chris Dodd met with the big mortgage lenders on the national foreclosure fiasco and it is important to note that 86% of all mortgages are "performing" or in other words listed as current. Trulias statistics as compare to that of the Senate Banking Committee hearing would indicate that 14% of all Real Estate loans are in Default. If Trulias figures are accurate that would put Milford at a 5% disadvantage compared to the national statistic. Trulia had this to say about Milford this month:

"Average price per square foot for Milford CT was $211, a decrease of 52% compared to the same period last year. The median sales price for homes in Milford CT for Aug 10 to Oct 10 was $273,000 based on 77 home sales. Compared to the same period one year ago, the median home sales price increased 5%, or $13,000, and the number of home sales decreased 39.8%. There are currently 468 resale and new homes in Milford on Trulia, including 1 open house, as well as 92 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Milford CT was $382,692 for the week ending Nov 17, which represents a decrease of 1.1%, or $4,075, compared to the prior week. Popular neighborhoods in Milford include Post Road North with average listing prices of $292,675 and $382,692."

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