William Pitt Sotheby’s International Realty continues to put out a great quarterly report on the state of the real estate market here in CT.The hyperlink below takes you to the report which graphs activity in the CT market for the past six months. Thoue report is devoid of the mumbo jumbo and macroeconomic slant of other publications and offers a look backward as well as makes modest predictions for the future of the market. Every town is coastal CT and Litchfield C ounty is analyzed, year to date,year over year,by price point and broken down by homes,land and condos.
Bottom line is that prices most likely have bottomed out at between 15-30% below pre-recession levels.Buyers have come back into the marketplace owing to low interest rates and a sense that the bottom has been realized.Take a look at the numbers for your town or one where you are considering moving. For better or worse,buyer or seller these are the facts and they feel much better than last year.William Pitt
Adobe PDF version – http://www.wpsir.com/u/marketReports/wpsir/rp_8.pdf
Magazine version – http://viewer.zmags.com/publication/1ff19b6c#/1ff19b6c/1