The National Association of Realtors’ most recent Existing Home Sales Report revealed that, compared to last year, Connecticut home sales are up dramatically in five of the six price ranges they measure.
CT homes priced between $100-250K showed a 20.7% increase year-over-year. This is an impressive increase, showing that November was an excellent month for home sales in this price range.
But surprisingly, the 20.7% increase in sales in this range was not the highest percent change achieved, as sales of CT homes over $250,000 increased by double-digit percentages with sales in the $750,000- $1 million range showing the largest increase, up 43.2%!
As prices in the CT market continue to accelerate, it is no surprise to see the percentage of homes in the higher price ranges increasing.
Here is the breakdown:
Homes under $100,000 were the only group to show negative appreciation of sales at -2.4%. This not only points to the lower inventory of homes available for sale in this price range but also speaks to the overall strength of the Connecticut housing market.
What does that mean to you if you are selling?
CT houses are definitely selling. If your house has been on the market for any length of time and has not yet sold, perhaps it is time to sit down with a Real Estate professional from Dave Jones Realty to see if it is priced appropriately to compete in today’s market.