New London Connecticut Real Estate Market Had A Strong Showing In May

The New London Connecticut Real Estate Market Had A Strong Showing In May, which is very encouraging for an area that had been struggling.  I am the Branch Manager for our New London Office, and we have definitely been seeing more activity this year than we did last year.  In fact both Single Family House Sales and Median Price rose by more than 20% not just in the City of New London but for New London County as a whole for the month of May.

The Median Price for Single Family Houses rose from $204,250 in May of 2011 to $245,500 for May 2012, and Single Family House Sales from 142 to 174.  Condominiums did even better which is unusual these days.  Condominium Sales rose by 29% in May 2012 over May of 2011, and the Median Price by 20%.

The increase in Condominium Sales and Median Price is especially encouraging to me, because I feel that it is a good indication that First Time Homebuyers are recognizing that this is a great time to buy, and are actively looking.  The more First Time Homebuyers that Purchase, the more step up Homebuyers we should see as well.

Both May and June were very strong months for us at McCue Mortgage, and we are looking for a strong July as well.  From the number of Mortgages that we did in May, we knew that The New London Connecticut Real Estate Market Had A Strong Showing, and we are full expecting to see similar numbers for the June Real Estate Market Report.

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Who To Call For Your Mortgage Needs In Connecticut:

George Souto NMLS# 65149 is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308  gsouto@mccuemortgage.com, or visit my McCue Mortgage Homepage.