Darien Real Estate Market Statistics – 4th Quarter Comparison
Posted by 
Deirdre McGovern on Sunday, January 24, 2010
As you can see from the 4th quarter Darien Market statistics, when houses are priced right, buyers will perceive value and houses will sell. The Darien real estate market had a sizable uptick in houses sold in December and projections are that Spring will be very active on both the buy and sell side.
The Darien market saw improvement in the 4Q of 2009, although prices continued their downward trend, buyers became motivated by affordability, low interest rates and improved economic conditions. We saw a good pace of sales in November and December telling us that we will see strong first quarter results in 2010.
Highlights:
• Avg. List Price was down just over 3% and just under 30% from 2007.
• Avg. Sale Price decline is slowing, coming in under 3% from 2008, indicating that we may be at the bottom and that the market offers great opportunities for buyers.
• Days on Market increased minimally by 4 days from the average in 2008. The market has seen a 53 day increase in avg. days on market since 2007, as homeowners struggled with pricing and buyers with confidence.
• Listings Taken in the 4Q of 2009 were down over 23% vs. 2008, and slightly down from 2007. This is good news for sellers. Inventory is not high and there is good opportunity to beat the competition, by putting their homes on the market early in 2010.
• # of Listings Sold was up a substantial 85.2% vs. 2008, indicating a strong 4Q pace of sales and momentum building for continued positive results in 1Q 2010.
• LP/SP ratio is up 4% vs. 2008, as home sellers are more in concert with current market prices.
Darien Real Estate Sales - 4th Quarter Comparison
| 2009 4th Q | 2008 4th Q | 2007 4th Q | % Change from '08 | % Change from '07 | |
|---|---|---|---|---|---|
| Avg. List $ | $1,471,645 | $1,519,555 | $2,064,479 | -3.2% | -28.7% |
| Avg. Sale $ | $1,356,642 | $1,394,229 | $1,958,808 | -2.7% | -30.7% |
| Avg. Mkt Tm | 154 | 150 | 101 | +4 days | +53 days |
| # Listings Taken | 89 | 116 | 93 | -23.3% | +4.3% |
| # Listings Sold | 50 | 27 | 48 | +85.2% | + 4.2% |
| SP:LP Ratio | 92.2% | 91.8% | 94.9% | +4% | -2.7% |
