The Waterbury Democrat., 1946-09-04

Continued from Page D

Continued from Page D
 Lone family houses: Total sales, 539; total sales price, $4,290,- 583; average sales price; $7, 7,960; as- sessment, 8, 3,352, 2,670; average assess ment, $6,620; ratio of assessment to sales, 78 percent.
 2Two-family houses; total sales, 181; total sales price, $1 1855 ,066; average sales, $7,486; assessment, $1, LA, ,585; average assessment, $6,- 232; ratio, 84 percent
 3-Three family houses: Total sales, 293; total sales price, $26e3,- 22S; average sales, $9,157; assess n1ent, $2,173,510; average assess ment, $7,418; ratio, 81 percent.
 Multi family houses: Total sales, 100; total sales price, $1 AL 814; average sales, $14, Al; assess ment, $1,18S,28O; average assess nent, $11 ,S83; ratio, 82 percent.
 5-Commercial property: Total sales, 186; total sales price, $4,128,- 11S; average sales, $22, ,194; assess mts,, $2,849, ,980; average assess ment, $20,698; ratio, 93 percent.
 6-Bare land: Total sales, 469; total sales price, S605, ,625; average sales price, $1,291: assessment, $S69,- 955; assessment, $788; ratio 61 per cent.
 Ratio 83 Percent
 Total estimates for the 1,768 dif- ferent type properties sold during the 12-month period shows a total sales price of $14,5O4, ,434 at an aver age sales price of $8,203 as con- pared to a total assessment of $l2,- O78, ,8o0 and an average assessment of S6.832 The ratio of assessed value to sales on all properties was 83 percent
 These Sales-and I stress the one-family saleS-all represent &C., tual cash transactions and do not include transfers or brokerage or banking deals" MT. Jenks said
 T can only foresee a continued rise in this market for some time to come until more dwellings are constructed and/or the purchasing power of individuals dwindles," he said. There are SO many people bid- ding for the same pieces of proper- ty that the competitiveness is bound to keep the market on the increase. It should be noted that the assessed value, meanwhile stays fixed and becomes all out of pro- portion to the current value of the properties.
 There will be no increase in local assessments to meet this mar ket," the Chief Assessor assured The Democrat
 Houses Value Up POO Percent
 By way of emphasizing the will hngness of individuals to pay for one-family houses, the assessor re- vealed results of spot checks of recent sales which show homes be- ing sold two and three times in less than six months with a total increase sales of $500 to $500. In one extreme case a home in the Meriden Road section first sold in October, 1945, for approximately $6,500 was re-sold in February, 1946, for $15.o00. During the past two years over one-third of all proper ties in Waterbury changed hands.
 People are desperate for dwell ings and willing to pay a bonus to live properly" the assessor said. There is the purchasing power of the CT. and his available loans plus the reserve wartime savings of the war workers. Added to this is the fact that 1t is yet a luxury in America to own your own home. for the majority of people still pay rent. All these factors plus the shortage of new homes make for the cock-eyed crazy market we now have"
 Commercial property in Water bury is much less inflationary than the one-family market the survey shows. The ratio of assessed values on commercial property to the lat ter's sales value is at 93 percent. (An original values.) This is ex- plained by MT. Jenks as result of commercial property being con- sidered as long-term investment rather than an immediate or crit ical need as is the case with one family homes.
 The single family home sales in- creased in number during the Jan- uary-June. 1946, period when 337 such homes were sold as compared to POP during the six months peryi. ous In fact all type property sales increased during the same period when l.122 sales were effected as compared to 646 for the six-months previous period
 Same Throughout Country
 No figures were available to con- pare average sales prices of single family homes prior to the war, but general estimates placed them at | A,2O0 as compared to the current average of $7,960
 This condition prevails generally throughout the country" the asses ;or pointed out. However, it is par ;icularly significant because of the nature of the city which is gen. erally industrial.
 '"Thars sna three factor- --- co