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Old 07-07-2018, 08:38 AM
 
Location: Near the Coast SWCT
83,500 posts, read 75,234,500 times
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My brothers girlfriend bought a condo in Stamford last month near asking. Definetly seems like more buyers than sellers out there. Keep this good weather coming and it should continue.
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Old 07-07-2018, 09:37 AM
 
Location: Coastal Connecticut
21,722 posts, read 28,048,669 times
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Quote:
Originally Posted by Cambium View Post
My brothers girlfriend bought a condo in Stamford last month near asking. Definetly seems like more buyers than sellers out there. Keep this good weather coming and it should continue.
The people I bought my house from are looking for a smaller house in Milford and said the good ones are still going in days.
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Old 07-07-2018, 10:26 AM
 
Location: Connecticut
34,915 posts, read 56,893,272 times
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Quote:
Originally Posted by kidyankee764 View Post
Looks like the seller’s market applies to some Hartford area towns, too. My brother in law and his wife just sold their house in Farmington in one day for 7k over asking price.
I am seeing a number of homes selling here in Glastonbury for more than asking too and selling pretty fast. Farmington and Glastonbury are desirable towns so it’s understandable. Not sure if same thing is happen in other towns though. Jay
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Old 07-07-2018, 11:22 AM
 
21,616 posts, read 31,180,666 times
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Quote:
Originally Posted by JayCT View Post
I am seeing a number of homes selling here in Glastonbury for more than asking too and selling pretty fast. Farmington and Glastonbury are desirable towns so it’s understandable. Not sure if same thing is happen in other towns though. Jay
I’m not sure about other towns, but I will say I thought their house was overpriced for the area. Apparently not.
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Old 07-07-2018, 11:57 AM
 
Location: Connecticut
34,915 posts, read 56,893,272 times
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Quote:
Originally Posted by kidyankee764 View Post
I’m not sure about other towns, but I will say I thought their house was overpriced for the area. Apparently not.
I thought the house behind me was too but it sold for asking in a couple days. Needed updating (30 year old finishes) and did not have central air. I was wrong. Jay
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Old 07-07-2018, 12:22 PM
 
570 posts, read 476,995 times
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Default Facts

The problem with this thread is that it assumes no facts are available. Raveis offers unfiltered, raw data. Simply put it is not a sellers market anymore than last year (besides bias realtors, not sure anyone thinks it was). It is perception but not reality. CT is still flat, perhaps even sucking more wind.

Take Milford's spring market (Mar to May) 2017 vs. 2018

2017 Units sold - 142
2018 Units sold - 147

2017 Average sale 327,799
2018 Average sale 318,901

2017 Median Sale 441,601
2018 Median Sale 442,662

Hardly the big seller's market that people here are claiming. Maybe in spots but these are facts.


Matrix
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Old 07-07-2018, 12:48 PM
 
21,616 posts, read 31,180,666 times
Reputation: 9775
Quote:
Originally Posted by CT_Yank View Post
The problem with this thread is that it assumes no facts are available. Raveis offers unfiltered, raw data. Simply put it is not a sellers market anymore than last year (besides bias realtors, not sure anyone thinks it was). It is perception but not reality. CT is still flat, perhaps even sucking more wind.

Take Milford's spring market (Mar to May) 2017 vs. 2018

2017 Units sold - 142
2018 Units sold - 147

2017 Average sale 327,799
2018 Average sale 318,901

2017 Median Sale 441,601
2018 Median Sale 442,662

Hardly the big seller's market that people here are claiming. Maybe in spots but these are facts.


Matrix
Sale price and number of units sold means absolutely nothing. Number of days on market is what tells the true story, and that data won’t be available for months (at least).
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Old 07-07-2018, 01:05 PM
 
Location: Near the Coast SWCT
83,500 posts, read 75,234,500 times
Reputation: 16619
Quote:
Originally Posted by CT_Yank View Post
Hardly the big seller's market that people here are claiming. Maybe in spots but these are facts.
What defines a Seller's Market is one where there are more buyers than homes for sale. Show me those stats, not prices. I'm sure you know prices have a lag time and not the best indicator
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Old 07-07-2018, 01:25 PM
 
24,557 posts, read 18,230,382 times
Reputation: 40260
Quote:
Originally Posted by CT_Yank View Post
The problem with this thread is that it assumes no facts are available. Raveis offers unfiltered, raw data. Simply put it is not a sellers market anymore than last year (besides bias realtors, not sure anyone thinks it was). It is perception but not reality. CT is still flat, perhaps even sucking more wind.

Take Milford's spring market (Mar to May) 2017 vs. 2018

2017 Units sold - 142
2018 Units sold - 147

2017 Average sale 327,799
2018 Average sale 318,901

2017 Median Sale 441,601
2018 Median Sale 442,662

Hardly the big seller's market that people here are claiming. Maybe in spots but these are facts.


Matrix

Thanks for the link!



I started plugging in towns. As you say, the median sale prices and price per square foot numbers in the places I looked in Connecticut didn't align with "We're in a boom". Glastonbury dropped a couple bucks per square foot from $160 to $158. West Hartford dropped from $168 to $158. Westport down 7% on a per square foot basis. Greenwich is up 4.6%.


It's imperfect since the sample size is so small and houses vary so much but it's data instead of anecdotal evidence and hearsay.
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Old 07-07-2018, 02:19 PM
 
570 posts, read 476,995 times
Reputation: 618
Quote:
Originally Posted by kidyankee764 View Post
Sale price and number of units sold means absolutely nothing. Number of days on market is what tells the true story, and that data won’t be available for months (at least).
Really? March through May are prime selling months. You can see the stats yourself. Inventory is down 33% in Milford but time on the market is up 20%. Paint what ever picture you want but stats are stats.
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