Everyone wants to know how the real estate market is doing. If you watch the nightly news you might think that homes sell for half of what they did two years ago, that half of all homes are on the market and no one is buying them. Well, that is not the case. We have been fairly fortunate in Connecticut since our real estate market has come down in price much less than other areas, and the inventory levels are not as high as other areas.
Here in Guilford there are currently 197 single family homes on the market. That is up slightly than in years past, but not a huge increase. Of those homes currently for sale, the median asking price is $575,000. Of course that is just part of the story.
Looking forward, we currently have 40 single family homes under contract in Guilford. You will never hear the nightly news point out something like this - 17% of the homes for sale in Guilford are under contract to be purchased! That's not too bad at all. Of those homes under contract 17 still have contingencies to be met. The median asking price of the homes under contract is $469,950.
Spring is off to a pretty good start.