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New Haven County, Connecticut Real Estate Market Report October 2019: It's all good news for sellers as buyer demand has yet to slow down, and home sale prices just keep rising!
New Haven County Home Sale Prices:
Prices continue to rise year after year reaching a decade high in 2019 at and average of $215,000.
New Haven County Home Inventory:
While the number of home sales continues to increase, the number of new listings has continued to decrease.
New Haven County Home Marketing Time:
As demand grows and supply diminishes, homes sell faster. Homes are currently selling at an average of 73 days on market in 2019. While this is certainly a very fast marketing time and still in sellers favor, it is an 11 day increase in marketing time since the same period in 2018.
New Haven County Market Trend Long Term:
Here is where the good news ends. Although sale prices have been growing quickly since the market bottomed out in 2012, New Haven County has not yet recovered form the housing bust of the late 2000's. The current median sales price of $215,000 is still 13% below the prices we saw at the peak of the market in 2007.
New Haven County home sale prices still have a way to go before we can call the market fully recovered, however there are options for those who need to sell now, but unfortunately purchased or refinanced at the peak of the market and are still upside down. And for those who can wait it out, the market is certainly headed in the right direction!
New Haven County includes 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.