The Latest From the Connecticut Real Estate Marke

What’s going on in the Connecticut real estate market? We see some interesting trends when it comes to inventory and rising prices.
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 Through April of this year, inventory has dropped anywhere from 10% to 20% based on your specific town here in Connecticut. Supply and demand would usually dictate that if we don’t have enough supply, prices must be driving upward.

However, right now we’re seeing just a 1% increase in home values. Depending on who you ask, though, there’s some fuzzy math out there right now. Depending on the price point you’re looking at, there are certainly increases in value.

If you’re interested, feel free to reach out to us about a specific area and we’ll happily tell you where prices are going.

For example, we’re seeing an increase in northern Fairfield County in the $250,000 to $400,000 range that’s actually closer to 5% to 10% in valuation. When you get above that $400,000, things slow down drastically as you go higher.

Similar towns like Fairfield County, Westport, Greenwich, and others are experiencing similar movement at higher price points.

If you have any questions about a specific area or you’re ready to buy or sell a home, just give me a call or send me an email. I look forward to hearing from you.

What’s Next for Our Real Estate Market?

We’ve seen a huge number of buyers start looking at homes across all price ranges. Here’s what that means for the health of our market.

Selling your home? Get a home value report here
Looking to buy a home? Search all local homes for sale here

I’m going to tell you something that I don’t think you’ve ever heard from me before. I’m actually feeling good about the real estate market. I’m still cautious, but feeling good about the market nevertheless.

Since the beginning of 2017, we’ve seen a massive influx of potential buyers looking at all our properties across all price ranges. I don’t know how this will translate as the year goes on. I don’t believe it will drive prices up, but it’s incredibly encouraging to see so many buyers in the market across price ranges.

How will that affect you in the long term if the trend continues? Well, it all comes down to supply and demand. If more buyers are buying, supply will drop and prices will rise as demand remains stable or increases.

I think that’s something to think about and consider. I know it’s crazy to hear me be positive about the real estate market, but I am. In the meantime, if you have any questions for me, don’t hesitate to give me a call or send me an email. I look forward to hearing from you.