The Connecticut real estate market has slowly been recovering for the last several years, but not all areas at the same rate. Some counties have been slower to move up than others. So which county hails as the slowest to recover?
Litchfield County reigns as the most depressed county in Connecticut with the rate of distressed sales (short sales and foreclosures) still at 15% in 2018.
Litchfield County includes Barkhamsted, Bethlehem, Bridgewater, Canaan, Colebrook, Cornwall, Goshen, Harwinton, Kent, Litchfield, Morris, New Hartford, New Milford, Norfolk, North Canaan, Plymouth, Roxbury, Salisbury, Sharon, Thomaston, Torrington, Warren, Washington, Watertown, Winchester, and Woodbury.
Following closely behind are New Haven and Windham Counties, which have also lagged behind the rest of the state in rising values.
And the county with the least distress inventory in Connecticut in 2018? Fairfield County! And while that is certainly great news for Fairfield County homeowners, even the fastest recovering county in Connecticut still has values 15% below the prices we saw at the peak of the market, with all other CT counties faring even worse.
Connecticut overall has lagged behind the rest of the nation in real estate recovery, but thankfully there are still options for those who owe more than their homes are worth but need to sell anyway!
Last Updated on October 19, 2018 by Minna Reid