Homes sales in Hartford County are down 9.8% over this time last year. Closed Sales 509 in 2021 vs 459 in 2022 – 9.8% Average Sales Price* $307,364 in 2021 vs $325,999 in 2022 + 6.1% Percent of List Price Received* 100.3% in 2021, vs 102.6% in 2022 + 2.3% Inventory of Homes for Sale […]
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February 2022 Home Sales Down 18.9% In Litchfield County From Last Year New Listings 174 in 2021 156 in 2022 – 10.3% Closed Sales 159 in 2021 129 in 2022 – 18.9% Median Sales Price* $315,500 in 2021 $330,000 in 2022+ 4.6% Average Sales Price* $382,770 in 2021 $453,536 in 2022 + 18.5% Inventory of Homes
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Why We’re Not Headed for a Housing Crash. Today’s housing market is nothing like it was in 2008. Let’s connect to discuss the reasons why it’s different. As of my last knowledge update in September 2021, there were several reasons why many experts believed that the United States was not headed for a housing crash
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In today’s housing market, there are far more buyers looking for homes than sellers listing their houses. Based on the concept of supply and demand, this means home prices will naturally rise. Why is that? When there are more people trying to buy an item than there are making that item available for sale, that drives
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In an annual Gallup poll, Americans chose real estate as the best long-term investment. And it’s not the first time it’s topped the list, either. Real estate has been on a winning streak for the past eight years, consistently gaining traction as the best long-term investment (see graph below): If you’re thinking about purchasing a home this year, this
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Connecticut has largest inventory drop in the country. Year to year drop in inventory in Connecticut exceeded 57% from December 2020 – December 2021. As a comparison New York had a 16.7% decrease, the national average was a 26.8% decrease. Idaho lead the country with new inventory being up 55% over last year. The North
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Waiting To Buy a Home Could Cost You Some Highlights If you’re thinking of buying a home but wondering if waiting a few years will save you in the long run, think again. The longer the wait, the more you’ll pay, especially when mortgage rates and home prices rise. Even the slightest change in the mortgage rate can have a
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3 Hot Topics in the Connecticut Housing Market Right Now. If you’re a prospective buyer or seller, it’s important to understand the current real estate market conditions and how they affect you. The Counselors of Real Estate (CRE) just released its Top Ten Issues Affecting Real Estate report. Here are three hot topics from the list and how they
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July 2021 Monthly Market Report The real estate market in July 2021 continued to show strong momentum, fueled by a combination of low inventory, competitive mortgage rates, and sustained buyer demand. Home prices rose steadily, with many markets experiencing double-digit year-over-year appreciation. While this created excellent opportunities for sellers to maximize their returns, it also
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Why This Is Not Like Connecticut in 2008 Again. During the Great Recession, just over a decade ago, the financial systems the world depended on started to collapse. It created a panic that drove some large companies out of business (ex. Lehman Brothers) and many more into bankruptcy. The financial crisis that accompanied the current
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