OFFPLAN NEWS

(31.05.2007 )
England real estate Market Conditions Summary: England

November 30th numbers for three months beginning September 1, 2006 show a significant drop in average days on the real estate market. This may be due to the end of year seasonal changes in the Northeast.

Listed properties that have not sold during the previous selling season are routinely removed from the market during this time and re-introduced in the spring as a new listing with a new listed price, or new listing broker to begin the selling process once again as a fresh listing with 0 days on the market. Average list price increased nearly $50,000 with the average sale price increasing nearly $43,000. Median sale price also increased by an average of $10,000.

Monthly Market Analysis for Litchfield County and Ten Towns.
Synopsis

In the month of November 2006, according to MLS reported transactions reviewed in mid December, Litchfield County had a total of 134 residential closings with a total sale value of $48,800,167 with the average sale price of $364,180. Lot closings in the county equaled 7 lots at a combined price tag of $1,042,500 with the average sale price of $148,929. Compared to the sales numbers from the previous month, the total quantity of residential sales and the associated sale dollars increased, and lot transactions and the associated sale dollars decreased.

The highest producing towns for residential and lot sales for November warrant mention. Of the 134 residential closings county-wide, 34 occurred in Torrington with a combined sale price of $6,330,965 - down from October. Of the 7 lots sold county-wide, Torrington reported three closings with the combined sale price of $300,000, and Sharon reported the highest selling lot at $300,000.

Closing Stats for Ten-Town Report - October 2006

Cornwall: Residential closings, one with a total sale value of $1,975,000. No lot closings were reported.

Goshen: Residential closings, six with a combined sale value of $3,837,500 and an average sale price of $639,583. No lot closings were reported.

Kent: Residential closings, two with a combined sale value of $775,000 and an average sale price of $387,500. No lot closings were reported.

Litchfield: Residential closings, seven with a combined sale value of $2,443,250 and an average sale price of $349,036. No lot closings were reported.

Morris: Residential closings, two with a combined sale value of $708,500 and an average sale price of $354,250. No lot closings were reported.

New Hartford: Residential closings, six with a combined sale value of $3,496,000 and an average sale price of $582,667. No lot closings were reported.

Salisbury/Lakeville: Residential closings, two with a combined sale value of $2,529,500 and an average sale price of $1,264,750. No lot closings were reported.

Sharon: Residential closings, one with a total sale value of $1,252,500. Lot closings, one with a total sale price of $300,000.

Roxbury: No residential or lot closings were reported.

Washington: Residential closings, one with a total sale value of $630,000. No lot closings were reported.

Residential Closing Stats for Ten-Town Report -9/1/06 - 11/30/06
(Comparative period 6/1/06 - 8/31/06)

A total of 106 residential closings were reported during this period, up slightly from 103 during the comparative period. The average list price increased from $536,480 to $583,201, and the average sale price increased from $497,482 to $540,350, with the current average sale price to list price ratio decreasing slightly from 92.73% in the comparative period to 92.65% in the report period. The average days on the market decreased from 119 to 99.

A true market indicator is measured quarter by quarter. For a market analysis breakdown, review the current market and go back three months to look at market trends.

Reporting is based on MLS participating listings, is subject to error, and is intended to give a general idea of the real estate climate for this area. Contact our offices for more market information and availability of properties in this area.

Location Characteristics: The Township of Cornwall consists of 3 villages: Cornwall, West Cornwall and Cornwall Bridge. Named for a county in England, it was auctioned off at Fairfield in 1738, with settlers moving in almost immediately mostly from Eastern Connecticut. The town was incorporated in 1740, but continued to have trouble from non-resident proprietorship.

Cornwall settlers were mostly farmers, choosing the higher hill country rather than the low lying lands due to the heavy growth of huge pine trees in the valleys. Some of the prominent early settlers were the Benjamin Sedgewick and Jonathan Hurlburt families. Theodore Sedgewick graduated form Yale in 1765, and became a member of Congress from Massachusetts. In later years, Major General John Sedgewick played important roles in several Civil War battles.

In 1817, Yale president Timothy Dwight was instrumental in the opening of the Foreign Mission School in Cornwall Village, in an effort to educate & "Christianize" the heathens living in the US, including Hawaiian-born Henry Opukahaia. Although Henry died before he could complete his education, a memoir of his life & conversion aided in evangelizing the Hawaiian Islands.

Cornwall was, early on, known for its schools, and iron that was smelted at Cornwall Bridge and West Cornwall. As early as the 19th century, Cornwall had considerable "summer colonies" and that has not changed as of today. With Mohawk Mt. State Park, Housatonic Meadows State Park, and Mohawk Mt. Ski Area, there is plenty to entertain residents and visitors alike. With access to the Housatonic River, there is also canoeing & kayaking, as well as fly fishing for trout. The Appalachian Trail climbs Mohawk Mtn to take in views from the Pinnacle.

There is also a trail that leads off the Appalachian Trail to Dark Entry Brook, and Dark Entry Road takes you to "Dudleytown", an old and deserted settlement that is purported to be haunted or cursed. Entrance to the area is at present off limits, but plans are being made for the possible re-opening of the settlement. There is more than one version of the Legend of Dudleytown, but the stories of how it came to be haunted are all eerie, as any ghost story should be.

There are several private schools in nearby towns, including Kent, Washington Depot and Lakeville.

The history of "the Cornwalls" is vivid and colorful, and the landscape of rugged mountains and deep valleys is still as beautiful today as it was in the 1700s when it was first settled

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