What's going on in the Connecticut real estate market? We see some interesting trends when it comes to inventory and rising prices.
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Through April of this year, inventory has dropped anywhere from 10% to 20% based on your specific town here in Connecticut. Supply and demand would usually dictate that if we don't have enough supply, prices must be driving upward.
However, right now we're seeing just a 1% increase in home values. Depending on who you ask, though, there's some fuzzy math out there right now. Depending on the price point you're looking at, there are certainly increases in value.
If you're interested, feel free to reach out to us about a specific area and we'll happily tell you where prices are going.
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Despite low supply, prices have increased by just 1% in some areas.
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For example, we're seeing an increase in northern Fairfield County in the $250,000 to $400,000 range that's actually closer to 5% to 10% in valuation. When you get above that $400,000, things slow down drastically.
Similar towns like Fairfield County, Westport, Greenwich, and others are experiencing similar movement at higher price points.
If you have any questions about a specific area or you're ready to buy or sell a home, just give me a call or send me an email. I look forward to hearing from you.
