West Haven, CT Market Report: Single family homes in West Haven are selling faster than they have in over a decade. The median timeframe in which homes in West Haven sell is down to just 37 days year to date. Despite this quick movement of homes on market, median sales prices remain flat at a median of $170,000:
The increased buyer demand in the past few years has helped to get the market moving in a positive direction again, however sales prices are nowhere near the peak of the market a decade ago .
The massive losses in home equity since the peak have left many homeowners still owing more than their homes are worth, even a decade later. 1 in every 4 home sales in West Haven CT is still a foreclosure or short sale. As distress sales sell for less than other inventory, these underwater homes continue to weigh on the market place, putting downward pressure on West Haven Sales Prices. It may be a while still before West Haven homeowners see the return of their lost values.
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