Despite rising prices in West Haven, CT, distress sales jump sharply in 2019! - Reid Real Estate Group

Despite rising prices in West Haven, CT, distress sales jump sharply in 2019!

West Haven, CT Real Estate Market Report: Like much of the state, West Haven has enjoyed rising home values for the last few years in a row. 2019 is starting off strong, but surprisingly sales of foreclosed homes rose sharply with the start of the new year!

West Haven median home sales prices are off to a good start, at a 5 year high of $195,000:

graph of riding home ale prices in west haven

Surprisingly, the rate of distress sales also sharply climbed so far  in 2019, with short sales remaining at 2% of all sold homes, but foreclosures jumping to 24%:

graph of west haven short sales and foreclosures

Even in today's improving market, one in every four home sales in West Haven is still a foreclosure or short sale.

Recovery in West Haven has been very slow, still leaving many with negative equity. There are options for those who need to sell, but still owe more than their homes are worth.

Minna Reid

Minna Reid is 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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