As I always say, you have to be an expert in your market to make the right decision at the right time For another month the Carr HPI Value Shelf has been extended from the origination point in established in 2Q2012, adding more properties to the statewide foundation of comparable equity value. Since 1996 I have been attentive to values and trends in Greater New Haven Connecticut
My Connecticut Association of Realtors reports the single-family residential home median sales price for
October was $247,000, a 3.3 percent increase from $239,000 in that same
time period last year,
Median price is one that indicates half the homes sold for more and half for less, a more accurate data point than the average.
October 2016 single-family residential home sales in Connecticut
decreased 4.6 percent in October 2016 compared with a year ago. The
total units of homes sold were 2,881 in October 2016 vs. 3,021 in
October 2015.
Townhouse and condominium median sales prices also
rose to $159,900, representing a 1.7 percent increase from $157,250 in
that same time period. Sales in Connecticut increased 1.7 percent, with
total units sold numbering 728 in October 2016 vs. 716 in October 2015.
Nationwide,
the National Association of Realtors found combined total home
(single-family homes, town homes, condominiums and co-ops) sales nationwide
moved in a contrarian direction of Connecticut, posting a median a increase 5.9 percent in October 2016 compared with the same month a
year ago. The median national home sales price was $232,200.
Regionally, Northeast home sales increased 1.4 percent in that same time period placing Connecticut ahead of the regional value recovery.
What does this mean to you? That Connecticut remains undervalued in a regional perspective compared to New York and New Jersey, while posting a better October than the rest of New England. We can discuss why now may be the right time to buy or rent, depending on your unique position and projected life and career course. Since 1996, I am proud to be the foundation of your success in real estate, providing objective, transparent consultation that will help you make the right investment or find the right house to call home.. contact me on my webpage david-carr.net
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