Wallingford, CT – Berkshire Hathaway HomeServices New England Properties has released its Fourth Quarter 2016 Connecticut Market Report, a valuable resource for anyone looking to buy or sell a home. The report examines the single family and condominium markets throughout Connecticut and is an in-depth analysis of sales and emerging trends in the market.
Connecticut single family home sales statistics for the Fourth Quarter of 2016 remained mostly flat. When compared to the Fourth Quarter of 2015, there were only 93 more single family homes sold and the average price was down 1.64%. Sales volume decreased by only 0.39%. The average price in New Haven and Windham Counties increased by 6.32% and 4.47% respectively, in line with buyer trends. New Haven County offers the opportunity to live in single family homes close to universities and urban areas while Windham County offers the best prices in the state for entry level buyers. Condominium sales saw an uptick of 4% this quarter when compared to 2015, however prices remained similar year over year. Homes for sale under $1.5M in Fairfield County spent fewer days on the market compared to last year and total sales in this range increased by 2.67%.
While the market did slow down at the end of October and early November, the end of the election spurred activity across the state. From November 8th – 30th, days on market dropped by nearly 10% and there were 20.61% more sales year over year. The volatility of the election affected our local market and that it was over, regardless of President-elect, gave buyers the push forward. For the full market report, please visit: https://www.bhhsneproperties.com/documents/market-report/2016q4.pdf
At Berkshire Hathaway HomeServices New England Properties, our mission is to provide an unparalleled customer service experience throughout all aspects of the home transaction process. If you have any questions regarding this report, our Realtors® are here to help you navigate the current market with expert knowledge and exceptional service.
Berkshire Hathaway HomeServices New England, New York and Westchester Properties is a leading real estate brokerage firm with over 1,800 REALTORS® in Connecticut, Massachusetts, New York and Rhode Island. Share in our heritage and esteemed reputation as one of the most admired and respected companies in the world. By working with Berkshire Hathaway HomeServices New England, New York and Westchester Properties, our clients are aligned with a century of unparalleled financial strength, operational excellence and business ethics. For more information, visit www.bhhsNEproperties.com.