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Many buyers are waiting for Santa to reduce the mortgage rates but unlikely he will be able to deliver this year!
The overall housing market is still experiencing multiple offers in starter and mid-priced homes even as price concessions are showing up in the upper end of the market.
We can expect sluggish inventory and high home prices to continue especially in the mid-price range homes.
For buyers being super prepared is key, and for sellers,
Christmas will continue.
Here are the key takeaways for November.
SINGLE FAMILY SNAP SHOT November 2022 vs 2023
885K Median sales price 12%
New Listings -5%
19 Units Closed 38%
Median List Price a whopping 15% (899K vs 1.035M)
CONDO SNAP SHOT
489K Median Sales price -28%
New Listings 0 (Hot Market for Condos)
3 Units Closed (no change)
Median List Price (no new inventory)
Buying?
We have access to a fabulous program called
"Time to Buy"
Designed especially for first-time home buyers who live in CT. Send me a note below to request information.
With a bit of help from Santa, you can become a homeowner in 2024!
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