The Connecticut real estate market has been very slow to recover since crashing about a decade ago. The last few years seem promising as continued buyer demand, coupled with decreasing home inventory have led to CT single family homes selling faster and prices finally moving upward.
2017 saw home marketing times fall to a decade low of just 53 days, while prices rose to a 3 year median high of $251,000:
While this is certainly good news and very promising for CT homeowners who bought or refinanced their homes during the peak of the market, median home sale values are still down over 10% from a decade ago.
Upward movement in CT values has been slow and uncertain, leaving many homeowners still struggling with negative equity. There are options for those who need to sell, but lack the equity to get out of the loan. And for those who have the time to wait it out - looks like things are headed your way!
Last Updated on January 22, 2018 by Minna Reid