[CrissCT]

I'm just going to put my 2 cents in about the housing market. We are moving from San Diego to CT this summer. Housing in our zip code STATISTICALLY prices are up - the average home price is higher than last year. However, in reality the same homes that sold in the $900's 2 years ago, then the $800's last year are now in the low $700's this year and just sitting there not selling. Things in CT look much better than San Diego which needed to make a major price correction, but they are still down.

I've been looking at real estate for sale in greater Hartford since September and in many areas, houses are still on the market that have been for sale since then.

[Cruikshl]

Originally Posted by CrissCT

I'm just going to put my 2 cents in about the housing market. We are moving from San Diego to CT this summer. Housing in our zip code STATISTICALLY prices are up - the average home price is higher than last year. However, in reality the same homes that sold in the $900's 2 years ago, then the $800's last year are now in the low $700's this year and just sitting there not selling. Things in CT look much better than San Diego which needed to make a major price correction, but they are still down.

I've been looking at real estate for sale in greater Hartford since September and in many areas, houses are still on the market that have been for sale since then.

Heck there are houses on the market from over a year ago yet when we started looking.

[AmyBergquist]

Here's some info on the Newington and Wethersfield markets, as of today... Greater Hartford Real Estate Blog » Blog Archive » Newington and Wethersfield Real Estate Report

[dileep]

Originally Posted by JayCT

This morning's Hartford Courant has an article on the housing market here in Connecticut and it was interesting to note that overall housing prices increased in the state in November. Though sales were down, prices were up in Fairfield, Hartford, Litchfield, Tolland and New London counties and down in Middlesex, New Haven and Windham counties. Jay

Can you please post the link to this article?
Thx

[JayCT]

Originally Posted by dileep

Can you please post the link to this article?
Thx

That article appeared in January and I could not get it off the Courant's websie. Jay

[xCalifornian]

Now is not a good time to buy. If someone is moving to CT from out of state and isn't familiar with CT they should just rent to begin with. If they are familiar with CT and know where they want to buy and know they will be in a house long term (10+ years) and they really want to own rather than rent, then that is the only situation where buying would make sense.

There's too much risk right now that housing will continue to go down. The recession has not been completely felt in the job market yet and interest rates are headed higher. House prices will only continue to go down as a result. Both California and CT suffered housing slumps starting in 1989/1990 and it was SEVERAL years before either area recovered. This slump just started recently. It takes years for these things to play out.

I know interest rates will be headed up because of inflation, but real (inflation adjusted) interest rates will likely hold steady or even decline based on a weak economy. So rising interest rates should not be too much of a concern. I am planning to move to CT or MA within the next year and I will not buy until I know the market has bottomed out. That could be a few years from now. I will rent a modest apartment and invest my money while I bide my time.

[kidyankee784]

Originally Posted by JayCT

That article appeared in January and I could not get it off the Courant's websie. Jay

There was a similar article printed in the Danbury News-Times. It listed individual towns in SW CT where prices have risen while they have fallen in the rest of the state, and the country.

[KH02]

our home has been on the market on and off for over 2 years now

[saharris]

I was just told by a realtor in Mansfield that is helping us look for a house that "Houses that are priced well and in good condition are selling quickly for close to the asking price."

[AmyBergquist]

Price, condition, and location. Those are the main drivers in any sale.