2016 news in CT for Real Estate

By
Real Estate Agent with Berkshire Hathaway Home Services

Well, diving into 2017 I thought I'd cap some info for the previous year, derived from our Berkshire Hathways 4th qtr Market report......

  • Average days on the market was less than 92 days for the nearly 10% more homes that sold under 1 million
  • Mortgage rates rermained low, lowest since 2012 -which is great news
  • Unfortunately, Residents moving out of state were a disturbing high number/60% of state moves were outbound
  • Gen X and Baby Boomers created a demand for more Townhouse & Condos, including some new construction start ups
  • Unemployment rate decreased in Nov to 4.7% which was the 5th consecutive month-also good news

  The upcoming year looks to be more of the same positiveness, with the hopes that the move outs will subside. Personally, I've experienced an upsurge of activity in the past week with Buyers & Sellers. The Spring Market (typically begins mid-end of Feb) which is right around the corner, is usually the busiest part of the calender yr. for such activity, and I expect it will remain historical.

Have a great weekend!

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Rainmaker
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Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

Thank you for sharing this great information. May 2017 be a fantastic year for you!

Jan 18, 2017 10:33 AM #1
Rainer
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Kevin Green
Berkshire Hathaway Home Services - Wallingford, CT
Residential & Equine Properties

Thnx Jeremy! same to u

Jan 18, 2017 10:51 AM #2
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Rainer
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Kevin Green

Residential & Equine Properties
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