Despite record number of New Haven home sales, prices drop in 2017 - Reid Real Estate Group

Despite record number of New Haven home sales, prices drop in 2017

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New Haven Connecticut Single Family Home Sales through 2017:

2017 ended with a total of 373 sales of single family residences, a decade high, and an increase of almost 50% since sales bottomed out in 2011 at a low of 250.  Despite the strong buyer demand leading to the increase in numbers of sales – the median sales price in 2017 dropped 4% to $169,000:

As inventory continued to decrease and homes sold faster, surprisingly median sales prices in New Haven have not increased significantly in the past few years. This could be explained by a slow recovery, and/or by greater demand for smaller, less expensive homes.

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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