Hey, What’s the Big Deal! 2009’s Biggest Home Sales and What This Means for 2010
January 5th, 2010 categories: Buying Your House, Market Data & Statistics, Redding, Ridgefield, Selling Your House, Talking Real Estate, Wilton
How big were the biggest deals of 2009? Big? Really big? Well, actually, not so big. Last year we witnessed a major pullback in luxury home sales at the highest end of the market. In the 7 towns surveyed, the average “biggest deal” was down 20% from 2008.
The transaction price erosion we saw at the highest level is driven mainly by 2 factors: overall decline in market values and the shifting focus of buyers toward more modest dwellings.
Anyone care to make a prediction? Will the high-end buyers be back in 2010? Personally, I think we’ll see more attention on luxury homes in the coming year as pent up demand will bring more buyers to this market segement while at the same time, many are tiring of the selling process and will do “whatever it takes” to get their homes sold.
Northern Fairfield County’s Biggest Deals of 2009 list won’t make the Forbes World’s Most Expensive Homes list, but they are beautiful and luxurious. Check out all the 2009 biggest deals below:
Biggest Residential Real Estate Deals of 2009
| Town | Address | BR | Acres | 2009 Sold Price | 2008 Biggest Deal | Percent Change |
|---|---|---|---|---|---|---|
| BETHEL | 6 JENNIFERS WAY | 4 | 1.9 | $720,000 | $1,100,000 | -35% |
| BROOKFIELD | 38 SUNSET COVE RD | 3 | 1.0 | $1,350,000 | $1,850,000 | -27% |
| DANBURY | 19 PETERSONS LN | 5 | 2.0 | $1,595,000 | $1,817,000 | -12% |
| NEWTOWN | 26 BUTTERFIELD RD | 5 | 5.1 | $1,150,000 | $1,600,000 | -28% |
| REDDING | 118 MOUNTAIN RD | 4 | 5.9 | $2,300,000 | $2,950,000 | -22% |
| RIDGEFIELD | 3 PARLEY LN | 4 | 1.3 | $2,500,000 | $5,500,000 | -55% |
| WILTON | 16 MIDDLEBROOK LN | 5 | 4.2 | $4,000,000 | $2,940,000 | 36% |
| Discussion: 2 Comments »
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I agree. There are LOTS of buyers just sitting in rentals in Darien and if the pricing is right,I think they will pounce. Not so sure about the high end though, even though getting bonuses are either receiving it in deferred comp or turning over a new leaf and consuming less.January came out of the gate well and buyers at least are no longer panicky. Fingers crossed…..SELLERS….PRICING IS KEY
I agree Karen, in this market pricing is everything. Thanks for your comments!