Connecticut Real Estate Market Watch - William Pitt Sotheby's International Realty

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Zmags

2011 YEAR-END REPORT williampitt.com INTRODUCTION Connecticut housing in 2011 is most aptly described as a bifurcated market with significant variation in individual market performance. Communities, particularly those closer to New York City that are Wall Street-dependent, experienced meaningful gains in both unit and dollar volume this year. We believe this is driven primarily by the Manhattan buyer, who tends to have a young family, and finds compelling benefits to living in Connecticut. On the contrary, communities further removed, with a lower median selling price, saw their sales levels drop off considerably in 2011 without the benefit of any employment stimulus or the support of the 2010 government housing incentive program. Connecticut housing also expe<a title="WP2011MarketReport page 1" href="http://viewer.zmags.com/publication/ddb5fafd?page=1">2011 YEAR-END REPORTwilliampitt.com</a> 2011 YEAR-END REPORTwilliampitt.com<a title="WP2011MarketReport page 2" href="http://viewer.zmags.com/publication/ddb5fafd?page=2">INTRODUCTIONConnecticut housing in 2011 is most</a> INTRODUCTIONConnecticut housing in 2011 is most<a title="WP2011MarketReport page 3" href="http://viewer.zmags.com/publication/ddb5fafd?page=3">HOME SALES FLUCTUATE WIDELY BY MARKETComing off</a> HOME SALES FLUCTUATE WIDELY BY MARKETComing off<a title="WP2011MarketReport page 4" href="http://viewer.zmags.com/publication/ddb5fafd?page=4">in 2009 due to its broader economic base, has imp</a> in 2009 due to its broader economic base, has imp<a title="WP2011MarketReport page 5" href="http://viewer.zmags.com/publication/ddb5fafd?page=5">SINGLE-FAMILY HOME CLOSED & PENDING SALES - THE S</a> SINGLE-FAMILY HOME CLOSED & PENDING SALES - THE S<a title="WP2011MarketReport page 6" href="http://viewer.zmags.com/publication/ddb5fafd?page=6">PRICES REMAIN STEADY IN LOWER RANGESMedian sell</a> PRICES REMAIN STEADY IN LOWER RANGESMedian sell<a title="WP2011MarketReport page 7" href="http://viewer.zmags.com/publication/ddb5fafd?page=7">and enhanced the consumer’s ability to gauge valu</a> and enhanced the consumer’s ability to gauge valu<a title="WP2011MarketReport page 8" href="http://viewer.zmags.com/publication/ddb5fafd?page=8">SINGLE-FAMILY HOME PRICE CHANGE - THE SHORELINE 2</a> SINGLE-FAMILY HOME PRICE CHANGE - THE SHORELINE 2<a title="WP2011MarketReport page 9" href="http://viewer.zmags.com/publication/ddb5fafd?page=9">SALES UNLOCK IN THE HIGHER PRICE RANGESSignific</a> SALES UNLOCK IN THE HIGHER PRICE RANGESSignific<a title="WP2011MarketReport page 10" href="http://viewer.zmags.com/publication/ddb5fafd?page=10">CONDOMINIUM SALES WERE UNEVEN IN 2011600</a> CONDOMINIUM SALES WERE UNEVEN IN 2011600<a title="WP2011MarketReport page 11" href="http://viewer.zmags.com/publication/ddb5fafd?page=11">RARE WATERFRONT FRAZIER PETERS HOME - WESTPORT, C</a> RARE WATERFRONT FRAZIER PETERS HOME - WESTPORT, C