With the year half over – it’s time to get a gauge on the overall state of the real estate market in New Haven County, Connecticut!
There's good news and bad news about the New Haven County housing market:
Sales prices:
While sales prices are at a ten year high, the rate of growth we’ve seen over the last few years seems to have stalled in 2019, with sales prices this year on par with 2018. Also, while the median New Haven County sale price is currently $211,000, that is still 13% below the sales prices we saw at the peak of the market in 2006:
Days to Sell:
While homes sold at record speeds in 2018, 2019 failed to deliver the same. The marketing time of homes rising to almost double those of last year:
Distress Sales:
With homeowners regaining some of the equity they saw slip away after the real estate crash, short sales and sales of bank owned homes are also down in 2019, currently at 14% of all New Haven County home sales:
While sales of distressed homes have eased as sellers have gotten into better equity positions, many are still left underwater on their mortgages – specifically those who bought or refinanced just before the real estate bust.
If you are still struggling with an upside down home IN CONNECTICUT, or are having trouble making the mortgage payments – we can help!
New Haven County incudes Ansonia, Beacon Falls, Bethany, Branford, Cheshire, Derby, East Haven, Guilford, Hamden, Madison, Meriden, Middlebury, Milford, Naugatuck, New Haven, North Branford, North Haven, Orange, Oxford, Prospect, Seymour, Southbury, Wallingford, Waterbury, West Haven, Wolcott, and Woodbridge.
Last Updated on July 15, 2019 by Minna Reid