Today, I want to briefly share the latest market statistics, so you can make informed decisions in the Connecticut marketplace. In particular, I want to share a few trends I’ve noticed from February 2015 to February 2016.
On a macroeconomic level, our market is up 2%, but on a more localized level, we’ve seen a 4% decline in median sale price. This essentially means the market is pretty flat. February is not a great month for home sales, so I’m not worried about the dip we’ve noticed on the local level. On the flipside, I’m not getting too excited about the 2% rise on the macroeconomic level, because that too is an indication that the market as a whole hasn’t seen much movement.
The numbers aren’t in quite yet, but March was a very good month for inventory movement. I’ll keep you updated as that data rolls in. A flat market isn’t necessarily a bad thing, but hopefully I’ll have some better news in the next market update.
If you have any questions about Connecticut real estate, or if you need real estate assistance of any kind, please don’t hesitate to reach out to us. We would love to hear from you!