Another year has flown quickly by, and it’s time to share with you the Summary of New London Sales for 2011. Note, that in order to include non-MLS transactions, we draw statistics from The Registry Review, as well as MLS. There is some good news in the market’s performance of 2011:  condominium sales began a nice recovery, including 4 sales at The Seasons; the number of waterfront/access property sales increased; and total transaction numbers actually eked up about 4.5%.  MLS stats for condo and residential sales show an increase from 60 to 73, and an increase in the listing to selling ratio from 90% to 92%. The average days on the market increased from 178 to 206, however, I believe this is a function of older inventory selling.  Conversely, more homes sold for <$300,000 in 2011 (26), than in 2010 (16), creating a drop in average price; and total dollar volume inched further downward, despite the increase in number of sales. While this marks the 5^th straight year of the decline of total dollar volume since the highs of 2006, it is telling to note that, after the first big drops of 2007-2008, the subsequent decreases have not been dramatic.  A couple more sales in the over $300,000+ range, and these decreases could have been washed out.  It is also the case that one or two large sales can skew the market.  Therefore, I have not included the sale of a single family home for $2,450,000 or the $15,000,000+ commercial sale of the New London Shopping Center. My optimism that 2011 would be the year of change didn’t prove true. There were signs, but just not enough momentum.  I do believe 2011 will be the last year of the downward trend.  Many forecasting services are predicting constant or rising home prices in 2012.  Nationally, buyer and seller traffic was up in late November and December (we were really busy!), which is also a very good sign.  The commitment to keeping interest rates low seems to be there.  I do believe that, if the news continues to be good, and buyers have reason to feel more confident, many of them, who have been sitting on the sidelines waiting for the “right” moment, will chose to buy a home in 2012. Coldwell Banker Milestone had a very successful and productive year in 2011, proving that our consistent performance continues to yield good results for our buyers and sellers.  As always, your referrals are gratefully received, and you can be assured that “The Best Team in Town” will deliver extraordinary service and results.  2011 New London Stats Summary. Marilyn Kidder is Broker/Owner of Coldwell Banker Milestone Real Estate.  Feel free to give her a call for professional advice on any of your real estate needs - 603-526-4116.