Rate of foreclosures and short sales in New Haven County hit 9 year low! - Reid Real Estate Group

Rate of foreclosures and short sales in New Haven County hit 9 year low!

Ever increasing buyer demand coupled with falling levels of inventory have led New Haven County, Connecticut home sales prices to rise for the last few years. With values on the rise in 2018, more homeowners now have the equity to sell and avoid a short sale or foreclosure.

Back 2010, one in every four home sales was either a short sale or REO (bank owned) sale, as the market continued to fall after the real estate bust. The market continued to struggle for several years and finally started to turn significantly for the better in 2016. Year to date 2018 sees distress sales at just 15% of all sales:

This is certainly good news for hopeful New Haven County home sellers! And for those who need to sell and still lack the equity to do so, short sales remain an option

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.

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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