After strong first quarter, future of Connecticut real estate uncertain… - Reid Real Estate Group

After strong first quarter, future of Connecticut real estate uncertain…

After several years of strong gains, early 2020 started off with a bang with endless buyer demand and rising real estate sales prices! And then came COVID-19! 

Sales were stronger than ever through March with the number of home sales continuing to rise year after year:

ct sales 2020

Sales prices were also headed way up, even well above the rising prices of the recent years:

ct sales prices

Unfortunately, due to the quickly spreading coronavirus, the state shut down at the end of March. While real estate has been deemed an essential activity, few are prepared to list their homes, shop for homes or assist the remaining buyers and sellers. Buyers employment situations, as well as their access to funding is also uncertain. How this will all affect to market in the coming months is still to be seen, but it's certainly not looking great right now.

Last Updated on April 8, 2020 by Minna Reid

Minna Reid

Minna Reid is The Broker - Owner of Reid Real Estate Group. Reid Real Estate Group is a full-service Connecticut residential real estate brokerage, specializing in helping homeowners with legal and financial challenges including short sales, probate sales and tax lien complications.

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