What’s Happening in Stamford Real Estate this Week – October 28 – November 3, 2011

Overall it wasn't such a terrible week in real estate as one would expect given the recent snow, power outages and down trees we encountered.  The number of new listings and closed listings remained stable when compared to previous weeks.

The median price YTD thru October 25, 2011 was down -9% in both single family and condominiums.  There is quite a bit of inventory to select from and couple that with low interest rates makes it a buyers market if you can get the financing.

The key to selling a home in this market is PRICE.  I recently listed a home and in 5 days we had 3 offers.  I also listed a condo at the price it should theoretically sell for and we received a full price offer almost immediately.

If your home is priced aggressively and stands out amongst other homes in your price point you are competing against you will/should receive an offer and if you are lucky a multiple offer situation.  TIP:  If you overprice in this market you will have one of two things happen:

-Your property will get stale on the market and the number of showings will decrease
-If you DO receive an offer and the home is overpriced an appraiser will value it at a lower price and the buyers mortgage will fall apart and so will your transaction unfortunately

Please remember it is in your best interest to get 2 or 3 market opinions from Realtors and don't always go with the highest price, be aware some agents will try and "buy" your listing.  Always ask to receive comparable homes to show you how they arrived at their figure.

Enjoy this weeks update and don't forget to change your clocks and enjoy that extra hour of sleep, until next week . . .

Just Listed - Single Family Homes

25 Albin Road, Stamford
$429,9000
3 Bedrooms, 2 Full Baths, 1,588 SF, .13 Acres, 1 Car Garage

56 Webb Avenue, Stamford
$475,000
3 Bedrooms, 3 Full Baths, 2,100SF, .13 Acres, No Garage

113 Willard Terrace, Stamford
$529,000
3 Bedrooms, 3 Full Baths, 2,100 SF, .60 Acres, 1 Car Garage

5 Halliwell Drive, Stamford
$675,000
4 Bedrooms, 2 Full Baths/1 Half Bath, 2,250 SF, .41 Acres, 1 Car Garage

169 Davenport Ridge Road, Stamford
$725,000
4 Bedrooms, 3 Full Baths/1 Half Bath, 3,368 SF, 1.1 Acres, 2 Car Garage

53 West Hill Circle, Stamford
$850,000
4 Bedrooms, 3 Full Baths, 3,857 SF, .78 Acre, 3 Car Garage

8 Lakewood Drive, Stamford
$929,000
5 Bedrooms, 3 Full Baths/1 Half Bath, 3,066 SF, 2.5 Acre, 2 Car Garage

150 Long Hill Drive, Stamford
$999,000
5 Bedrooms, 4 Full Baths/1 Half Bath, 4,200 SF, .25 Acres, 2 Car Garage

188 Cedarwood Road, Stamford
$1,369,000
4 Bedrooms, 4 Full Baths/1 Half Bath, 3,593 SF, 1.16 Acres, 4 Car Garage

119 Wire Mill Road, Stamford
$3,195,000
5 Bedrooms, 6 Full Baths/1 Half Bath, 4,573 SF, 3.56 Acres, 2 Car Garage

Just Listed - Condominiums

1072 Main Street, Unit 3, Stamford – Co-op – Short Sale
$80,000
1 Bedroom, 1 Full Bath, 633 SF

91 Strawberry Hill Avenue, Unit 233, Stamford – Short Sale
$280,000
2 Bedrooms, 1 Bath, 875 SF

2437 Bedford Street, Unit F7, Stamford
$319,900
1 Bedroom, 1 Full Bath/1 Half Bath, 1,069 SF

11 Finney Lane, Unit 13, Stamford
$340,000
2 Bedrooms, 1 Full Bath/1 Half Bath, 1,220 SF

1111 Hope Street, Unit 8, Stamford
$362,000
2 Bedrooms, 2 Full Baths, 1,100 SF

2437 Bedford Street, Unit B12, Stamford
$389,900
1 Bedroom, 1 Full Bath/1 Half Bath, 1,178 SF

77 Havemeyer Lane, Unit 44, Stamford
$1,055,192
3 Bedrooms, 3 Full Baths/1 Half Bath, 2,610 SF

Just Sold - Single Family Homes

29 Pressprich Street, Stamford
Listed $229,900  Sold $225,000
110 Days on Market

102 4th Street, Stamford
Listed $370,000  Sold $346,500
231 Days on Market

32 Ivy Street, Stamford
Listed $424,900  Sold $410,000
91 Days on Market

64 Bon Air Avenue, Stamford
Listed $490,000  Sold $441,000
315 Days on Market

5 Hunting Ridge Road, Stamford
Listed $460,000  Sold $447,250
169 Days on Market

5 Mercedes Lane, Stamford
Listed $510,000  Sold $500,000
62 Days on Market

11 Denicola Road, Stamford
Listed $650,000  Sold $630,000
3 Days on Market

30 Brightside Drive, Stamford
Listed $698,000  Sold $642,500
37 Days on Market

131 Dolphin Cove Quay, Stamford
Listed $2,300,000  Sold $2,050,000
174 Days on Market

Just Sold – Condominiums

59 Courtland Avenue, Unit 2B, Stamford
Listed $98,000  Sold $85,000
423 Days on Market

7 Standish Road, Unit 2, Stamford
Listed $130,530  Sold $115,000
85 Days on Market

178 Seaton Road, Unit 2, Stamford
Listed $137,500  Sold $117,750
36 Days on Market

91 Strawberry Hill Avenue, Unit 229, Stamford
Listed $160,000  Sold $155,000
71 Days on Market

7 4th Street, Unit 5J, Stamford
Listed $185,000  Sold $168,000
115 Days on Market

91 Strawberry Hill Avenue, Unit 525, Stamford
Listed $182,500  Sold $172,000
82 Days on Market

26 Weed Hill Avenue, Unit H, Stamford
Listed $309,000  Sold $309,200
28 Days on Market

Source:  CMLS

For more information, contact Realtor Melodye Colucci of William Raveis Real Estate at realestatemelodye@yahoo.com, or visit http://www.stamfordarearealestate.com