Archive for Market Report
William Pitt Sotheby’s International Realty Release 3Q Market Watch
William Pitt Sotheby’s International Realty recently released its third quarter Real Estate Market Watch, announced Paul Breunich, President and CEO.
“After a protracted period of minimal sales, we are happy to report the positive market results of the second quarter of 2009 continued through the third quarter of 2009,” said Mr. Breunich. “Almost every market in Connecticut can now confirm that pending sales have improved for at least five straight months with pipeline sales ahead of both 2008 and 2007.”
Mr. Breunich’s report states that while sales volume is improving, prices in many categories statewide continue to have some downward pressure. Economists warn that the recovery will be slow and unsteady but the early signs are very positive. The improved pending sales figures, reductions in inventory and slower pace of price declines all point to a strengthening market.
“Buyers remain in the driver’s seat,” said Mr. Breunich. “They are seeking turnkey properties in great locations at a bargain price. In other words, buyers ‘want it all!’”
As a concrete demonstration of confidence in the housing market, William Pitt Sotheby’s International Realty recently acquired the Sotheby’s International Realty (NRT) offices of Larchmont, Rye and Scarsdale, New York and the offices of Washington Depot, Kent and Lakeville, Connecticut. The brokerages in Westchester County, New York now operate as Julia B. Fee Sotheby’s International Realty.
“These are very successful offices with the most respected sales associates in their markets,” said Mr. Breunich. “We are excited to continue our firm’s growth in Connecticut and to extend our brokerage operations into the Empire State.”
For the complete quarterly market report and to view local housing statistics in Fairfield County and along the Connecticut Shoreline, visit www.wpsir.com and click on “3Q Market Report.”
William Pitt Sotheby’s International Realty is one of the top-producing real estate firms in the nation with more than $2 billion in closed sales volume in 2008. The firm has approximately 700 sales associates in 24 offices throughout Connecticut. For more details, visit the website at www.wpsir.com.
