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 […]
Litchfield County Home Sales Down 18.9% Read More »
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 at that time. Please note that economic and
Why We’re Not Headed for a Housing Crash Read More »
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
How Supply and Demand Can Impact Your Buying and Selling Goals Read More »
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
Real Estate Voted the Best Investment Eight Years in a Row Read More »
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 East round goes as follows: Massachusetts -33.4%, Rhode
Connecticut has largest inventory drop in the country Read More »
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
Experts Are Optimistic About the Summer Housing Market In Connecticut Read More »
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 impact today’s housing market. Technology Acceleration and Innovation The past
3 Hot Topics in the Connecticut Housing Market Right Now Read More »
Our Monthly Market Report is a comprehensive walkthrough of the most up-to-date information regarding the real estate market. Future editions will be released by the 10th of the month.
July 2021 Monthly Market Report Read More »
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 pandemic caused hardship to certain industries and hurt many small
Why This Is Not Like Connecticut in 2008 Again Read More »
Homebuyers are flooding the housing market right now to take advantage of record-low mortgage rates. Many have a sense of urgency to find a home soon since experts forecast a steady rise in both rates and home prices this year and next. As a result, buyer demand greatly outweighs the current housing supply. Here’s how
Your Connecticut House Could Be the Oasis in an Inventory Desert Read More »
