New Haven County, CT Real Estate Market Report: Midway through 2019! - Reid Real Estate Group

New Haven County, CT Real Estate Market Report: Midway through 2019!

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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:

graph of NH County Home Sale Price 2005-2019

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:

graph of New Haven County Days to sell

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:

graph of new haven County distress sales 2019

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!

short sale graphic

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.

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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