Demand for well-priced, quality properties is up, way up! Total sales dollar volume has tripled Countywide for the 1st half of 2010 and prices are down 20-30%.

The total # of $1.0 million+ property sales increased +122% during the 1st half of 2010 vs. 2009 (49 in '10 vs. 22 in '09). 15 homes sold above $2.0 million during the 1st half of 2010 vs. merely 4 during the 1st half of 2009 and the highest closed transaction y-t-d is a record-setting $8.5 million. The volume of more expensive transactions is increasing, which is driving the average price higher. The average sales price for a $1.0 million+ property in Northwestern Connecticut increased +28% during the 1st half of '10 vs. '09 to $2,134,921. The median price for a $1.0 milllion+ property decreased -7% vs. '09 to $1,500,000. The average # of days on the market decreased during the 1st half of '10 by 16% to 267 days.

On the supply-side, there are still too many unrealistic sellers resulting in approximately 11% more active listings above $1.0 million today vs. last year. More sellars who think the market's coming back are actively listing their properties. The reality is that well-priced properties in prime locations are seeing most of the sales activity while properties in secondary locations are languishing.

KLEMM continues to lead the market with the #1 market share by bringing Buyers to Litchfield County! We sold the 2 highest sales countywide during the 1st half of 2010, which are also the 2 highest sales in 2 years. The first, which sold for $8.5 million, is located in Kent and is the highest sale y-t-d countywide. The second, which sold for $7.5 million, is located in Roxbury and is the highest sale Ever in Roxbury. There is significant momentum throughout northwestern Connecticut real estate for 2010 and we're having the busiest Summer in our company's history. We're very optimistic that demand here is still in its infancy and that deals will continue to happen for prime properties that represent good values.

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