Today I’m here with your Connecticut real estate market update.
Year over year in the general market area, we are up by 1% and sales are up 7%.
Keep an eye on our inventory levels, as inventory is up 10% year over year. That abundance of inventory is keeping our market relatively flat. Why?
We are still working through all of those people who wanted to sell during the recession but had to wait 10 years. They are coming onto the market now, along with new properties. We have to work through all of that before we see lower inventory and steady demand, which will increase home values.
I know I sound like a broken record, but home values have remained flat and will continue to stay flat for the foreseeable future.
If you have any questions, give me a call or send me an email. I would be happy to help you!