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 Island -24.2%, New Jersey -29.2%, Delaware -23%, Maryland -12.2%, and DC was up 3.4. Get the full report here
Is Connecticut about to burst like a bubble? Keep in mind most of the US has recovered from the dramatic drop around 6 years ago. Many areas of Connecticut have not recovered, and values remain below where they were in 2007. For example a 3900 sf home in Thomaston CT was sold in 2004 for $348,000. In 2018 after endless renovations it was appraised for $248,000. A zoning change from a two family back to the original single family status increased the value to $300,000 and it was sold on 11/08/2018 for $300,000. As of 1/30/2022 the appraised value according to town hall is $327,000 . Market value may bring it close to its value back in 2004. Is the market in Connecticut over heated…
This is the toughest market in the country for home buyers and it definitely pays to work with an expert.
Here Are 6 Great Reasons To Call Steve Schappert
- Negotiated with international bank fraud criminals for the Secret Service and convinced them to come to the US where they could be prosecuted.
- Built 12 EnergyStar homes, designed, built and shipped a zero energy home to Germany.
- Inspected $26,000,000 worth of multifamily homes.
- Featured Green Builder at The National real estate convention in Las Vegas 2007
- Assisted as many as 500 home buyers monthly across the country.
- Has been interviewed by Woman’s Day, ABC, NBC, The BBC, The New York Times and many more.