In this challenging year for luxury real estate sales in Litchfield County, KLEMM Real Estate participated in 9 of the 10 top sales countywide and set the all-time record in Roxbury of $7.75 million (this trumped Roxbury's all-time record sale of Dogwood Farm, which KLEMM exclusively listed and sold in 2010 for $7.5 million) while achieving the highest sale in the County during 2011. This speaks enormously to the firm's ability to maintain a steady flow of customers and sales - while other firms are unable to produce high-dollar results.
In 2011, there were only 56 ($1.0+ million) sales throughout the County vs. 84 during 2010. In total, $97,081,487 traded during 2011 vs. $172,699,338 in 2010 (-44%). Overall, the average price for a $1.0+ million property decreased -21% in 2011 to $1,733,598 while the median price decreased -10% to $1,350,000.
For 2011, KLEMM has once again achieved the #1 market share in luxury sales, which is more than double the nearest competitor, throughout Litchfield County. KLEMM continues to dominate the market countywide with 76% market share for sales in excess of $2.0 million.
KLEMM is proud to claim record-breaking sales in 2011 in the towns of Amenia, NY, Ancram, NY, Bridgewater, Cornwall, Litchfield, Middlebury, New Fairfield, New Milford, Roxbury, Torrington, Warren & Washington.
Looking ahead, we believe a gradual recovery is on the horizon. We're seeing an uptick in activity early into 2012 with several record-breaking sales now in contract and scheduled to close in the coming months. Historically real estate moves in cycles - and prices have fallen as much as 30% since the market peak in '06-'07, while transaction volume has reached the lowest level since 2002. Pent-up demand coupled with good values, diminished quality inventory and record-low interest rates will likely spurn new deals for realistically priced properties.
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