Overview of Current Market Conditions

The following charts show the changes that have taken place in the Stonington real estate market between 2002 and 2007. The first chart shows the median sale price for a single family home, both in 2002 and 2007. (The median sale price is the middle of the range of actual selling prices from the lowest to the highest. The median is used instead of an average because the average gives higher weight to the higher priced properties, the median gives equal weight to all sales.) The second chart shows the change in the median selling price of a single-family home over the last 12 months leading up to 10/1/2007. Additional charts are shown to illustrate the changes in the Stonington marketplace. All charts reflect the changes for single family homes.

2002 vs 2007 Median Sale Price Comparison (Single Family Homes)

Changes in selling prices for Single Family Homes by Quarter

Change in assessment levels showing new sales against old assessments: (As sales increase in value the ratios decrease)