[SteveM85]

Originally Posted by kidyankee764

Not sure what you mean by not an apples to apples comparison.

Realtor only has median list price in Milford at +6% YOY, Zillow at +11%, +21% on BestPlaces and WilliamPitt at +21%. Interestingly, if you combine all those sources, it shows Milford to have an average of +14% YOY - exactly what Redfin had listed.

Anyway, the point was that CT appears to have, overall, one of the lowest YOY appreciation rates from 2021 to 2022. That’s not necessarily a bad thing when sh*t hits the fan, which it very well could.

Remember, no predatory Countrywide ninjas this time around. People are on more solid footing, especially in CT, especially the loaded ones in FCounty and Milford and Madison. Everyone knows FL and AZ growth make sense. AZ is off the charts unreal growth. Mobs of Venice and West Hollywood Instagrammers are driving AZ growth through the roof from CA. FL is growing every which way but loose. Homes, humans, pythons, iguanas, bugs, you name it, it's growing in FL. What's next? invasive cheetahs, FL's so rich.

[Stylo]

Originally Posted by kidyankee764

Not sure what you mean by not an apples to apples comparison.

Redfin had NATIONWIDE at 14.3%

Your article had NATIONWIDE at 18.8%

That ain't apples to apples.

PS: I'm seeing 16.8% on Zillow?
https://www.zillow.com/milford-ct/home-values/

[kidyankee764]

Originally Posted by Stylo

Redfin had NATIONWIDE at 14.3%

Your article had NATIONWIDE at 18.8%

That ain't apples to apples.

PS: I'm seeing 16.8% on Zillow?
https://www.zillow.com/milford-ct/home-values/

Yeah, there’s a million sources we can pull from but all have CT as being low real estate appreciation overall (relatively speaking, of course). Reading some of the posts in this thread, one would think CT real estate is up 100% YOY.

Again, not a bad thing. Just an observation.

[Stylo]

Originally Posted by kidyankee764

Yeah, there’s a million sources we can pull from but all have CT as being low real estate appreciation overall (relatively speaking, of course). Reading some of the posts in this thread, one would think CT real estate is up 100% YOY.

Again, not a bad thing. Just an observation.

Just saying, certain towns (in relative closeness to NYC) and certain price points have jumped a lot.

Based on recent nearby comps, I could get around 43% more for my home than what I bought it for in 2018.

[kidyankee764]

Originally Posted by Stylo

Just saying, certain towns (in relative closeness to NYC) and certain price points have jumped a lot.

Based on recent nearby comps, I could get around 43% more for my home than what I bought it for in 2018.

That’s absolutely the exception rather than the rule (statewide), according to the numbers. Even Greenwich is seeing ~20% increase YOY (which is a lot when you’re talking 7 figure averages, but still).

[Cambium]

Originally Posted by kidyankee764

Interesting that the rise in CT home values over the pandemic (13%) was on the lower end compared nationally. FL and AZ had nearly double the growth at ~26% (on the higher end nationwide).

And how was the drop in FL and AZ? Easy to come up 26% off a major bottom. Point is CT didn't drop as much nor does it fluctuate as much as those states but bottom line is we're moving substantially higher than we did with the previous boom.


I just wish articles would include Connecticut. It's like we're too small a state or something.



https://wolfstreet.com/2022/02/22/th...san-francisco/

[New Englander]

Inventory continues to be on the lower side across the towns that I have been looking in. I ended up selling 3 houses in my FFC for an average profit of $365k after all expenses. These were the least desirable houses (in my portfolio) in some excellent towns. The way they were snatched up (offers at open houses, dozens of offers, outlandish gimmicks) really makes me concerned that people are not considering the downside risk. However, from my perspective, I did very well unloading these properties.

I’ll be doing a 1031 exchange so it’ll be interesting to seek out others deals. Thankfully, I’m not limited to CT when searching for properties.

“Be fearful when others are greedy” describes the phase of the market for me.

[SteveM85]

Originally Posted by New Englander

Inventory continues to be on the lower side across the towns that I have been looking in. I ended up selling 3 houses in my FFC for an average profit of $365k after all expenses. These were the least desirable houses (in my portfolio) in some excellent towns. The way they were snatched up (offers at open houses, dozens of offers, outlandish gimmicks) really makes me concerned that people are not considering the downside risk. However, from my perspective, I did very well unloading these properties.

I’ll be doing a 1031 exchange so it’ll be interesting to seek out others deals. Thankfully, I’m not limited to CT when searching for properties.

“Be fearful when others are greedy” describes the phase of the market for me.

Tremendous job. You nailed it. That's how things are done.
Rich NY and CT savvy investors moved to cash positions last week in anticipation of TrumPutin's global stock manipulation tactic. Buy back in on the huge drop. Easy money. This spring many NYers use those easy proceeds to buy in to a beautiful CT home when one pops up. CT gets richer by the day. Maybe we move up to 20%+ growth for the year.

[kidyankee764]

Originally Posted by Cambium

And how was the drop in FL and AZ? Easy to come up 26% off a major bottom. Point is CT didn't drop as much nor does it fluctuate as much as those states but bottom line is we're moving substantially higher than we did with the previous boom.

I just wish articles would include Connecticut. It's like we're too small a state or something.

https://wolfstreet.com/2022/02/22/th...san-francisco/

This wasn’t 26% from a “drop”. It was 26% from 2021-2022 (13% for CT and NY); a YOY increase.

[brownedbits]

It isn't reasonable to compare CT to states like FL and AZ. Over the decades, the sunbelt region has seen some high highs and some low lows. CT has always been in more of a steady trajectory, never seeing major highs or major lows over the years.