What’s Happening in the Local CT Real Estate Market?

Let’s take a look at what we’re seeing in the local CT market.

• We are still seeing price increases, low inventory, and homes selling in under two weeks. There is still very limited supply and buyer demand remains high. Although you may be hearing different things on a National level about the market shifting, our local market looks quite different. We still have high buyer demand and low inventory to match it.

• Median days on market remains under 2 weeks across the board, which means that homes are still selling quickly and often times we’re still seeing bidding wars and multiple offers on one home.

• Houses are continuing to appreciate and are projected to continue appreciating for the near future. What affects the market is supply vs. demand. So, despite what you may be hearing on the news, we will continue to have high prices and appreciation so long as buyer demand. So, despite what you may be hearing on the news, we will continue to have high prices and appreciation so long as buyer demand remains high and inventory remains low.

What does this mean for you?

If you’re thinking about selling and wondering if it’s a good time, the answer is yes! You likely have gained a lot of equity in the last few years and will have a lot of activity on your home when you hit the market.

If you’re looking to buy, don’t be discouraged! There are ways to get your offer accepted and negotiate terms that work for you, even in this market. It’s as important as ever to have a team behind you that can support you through the process and help you find your home! Having a strong agent and lender to help you with the process will be a dealbreaker for getting your offers accepted and for navigating this journey.

Ready to take advantage of this market and make a move? Reach out to me today!