New Haven CT short sales rise in 2017 as prices fall again - Reid Real Estate Group

New Haven CT short sales rise in 2017 as prices fall again

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After falling for from their peak in 2013, the rate of short sales in New Haven, CT has been rising again since and currently sits at over 5% of all real estate sales 2017 year to date:

 

This is likely because home values in New Haven have been slow to recover since the bust, leaving many still owing more than their homes are worth. Many towns in CT are seeing mild increases in prices after several years of heavy buyer demand, but after mild gains since 2012, median sales prices in New Haven are down again in 2017:

 The year is still in full swing so there is time for things to head upwards, but it may be many more years until we arrive at the values we saw in the mid-2000’s.

UPSIDE DOWN AND NEEDING TO SELL? A SHORT SALE MAY AN OPTION – FIND OUT MORE!

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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