[SteveM85]

Originally Posted by Cambium

Good reading here. "The New York migration"

https://www.ctinsider.com/realestate...t-16954189.php

Covid browbeaten NYC residents are fed up. They're weary and tired of the criminal protecting Tik Tokkers.
Friday the 13th XIV - Jason takes Manhattan, took on a whole new meaning there. No one wants a machete across the throat or a hatchet in the back on the way to the office. While some FB members seek freedom from oppressive Govts, NYCers seek refuge in CT's safer environments and a 4.18% interest rate won't stop them from achieving that goal this spring. Low inventory will.

[Stylo]

According to William Pitt, the average sales price in Milford in Feb was $570k, up 88% since the same month in Feb 2020. Price per square foot at $281, up 57.5%. Wild.

[JayCT]

Originally Posted by Stylo

According to William Pitt, the average sales price in Milford in Feb was $570k, up 88% since the same month in Feb 2020. Price per square foot at $281, up 57.5%. Wild.

That’s insane but not entirely surprising. Jay

[SteveM85]

Originally Posted by Stylo

According to William Pitt, the average sales price in Milford in Feb was $570k, up 88% since the same month in Feb 2020. Price per square foot at $281, up 57.5%. Wild.

Wild is putting it lightly. That's freakish otherworldly growth. Just insane. No one could have predicted this. We're in unchartered territory here in CT. Where do we go from here?

[17Christian76]

Originally Posted by SteveM85

Wild is putting it lightly. That's freakish otherworldly growth. Just insane. No one could have predicted this. We're in unchartered territory here in CT. Where do we go from here?

Down.

[SteveM85]

Originally Posted by 17Christian76

Down.

Eventually. Everyone knows that, but when?
Purportedly there are 7 Gates to Hell around the world. Make it 8, NYC just joined up. How did they let it get to this point?
NYers are coming in swarms, anything they can get their hands on. Only 7K FB members want to leave CT for Jesus's waiting room in the swamp, otherwise known as FL. That's not enough people leaving to make room. They can't afford the water there. The parts that count.
Milfords up 58% YOY. I just received a personal letter in the mail from a Raveis realtor with a cash buyer from NY who wants to buy my home, name your price. Desperation has set in in NY.

[kidyankee764]

Originally Posted by SteveM85

Eventually. Everyone knows that, but when?
Purportedly there are 7 Gates to Hell around the world. Make it 8, NYC just joined up. How did they let it get to this point?
NYers are coming in swarms, anything they can get their hands on. Only 7K FB members want to leave CT for Jesus's waiting room in the swamp, otherwise known as FL. That's not enough people leaving to make room. They can't afford the water there. The parts that count.
Milfords up 58% YOY. I just received a personal letter in the mail from a Raveis realtor with a cash buyer from NY who wants to buy my home, name your price. Desperation has set in in NY.

This is so dramatic that it’s nauseating. The NYC decline has slowed and, in fact, as of November of last year, population was rising again in the city. The days of the NYC exodus are over. That’s not why the market is tight in CT.

What’s happening now is far beyond that. It’s low inventory so supply and demand issues, which is happening nationwide, not just in CT. It’s no different than what’s happening with vehicles, cream cheese, etc.

In 2021, CT’s overall home prices grew 17%, below the national average, according to statistics, so those amazed at what’s happening in CT should see what’s happening in other states.

https://www.statista.com/statistics/...-by-state-usa/

It is now more desirable, in this supply and demand market, in “the swamp” than it is in Connecticut, going by statistical home appreciation using almost any source.

[SteveM85]

Originally Posted by kidyankee764

which is happening nationwide, not just in CT.

Yes but this is the CT Forum and how the market is doing in CT. CT should see a bump in the coming months as more NYers look to get out of Dodge, hastily. ASAP.
A slew of new homes recently hit the Darien market and I've heard a couple that are already multiple looks and offers day one/half. It's barely March. They're told come back with your best and final by xxxday. "Coming Soon" listings are the new thing. One guy I know looked at a new construction sub-division in Norwalk just recently, too late, all sold out for 1.2M, like a dozen of them, nowhere even near the water or Rowayton. That's what I hear and see, if the numbers and stats say CT is awful and the worst ever then I don't know what else to say.
It could reach a boiling point in CT, no one knows when it will end.

[kidyankee764]

Originally Posted by SteveM85

Yes but this is the CT Forum and how the market is doing in CT. CT should see a bump in the coming months as more NYers look to get out of Dodge, hastily. ASAP.
A slew of new homes recently hit the Darien market and I've heard a couple that are already multiple looks and offers day one/half. It's barely March. They're told come back with your best and final by xxxday. "Coming Soon" listings are the new thing. One guy I know looked at a new construction sub-division in Norwalk just recently, too late, all sold out for 1.2M, like a dozen of them, nowhere even near the water or Rowayton. That's what I hear and see, if the numbers and stats say CT is awful and the worst ever then I don't know what else to say.
It could reach a boiling point in CT, no one knows when it will end.

It won’t end anytime soon, I’m thinking. Real estate experts are suggesting home values will go up another 20% nationwide, which means about 16% in CT if the pattern continues.

Thank God I purchased when I did.

[CT_Yank]

Originally Posted by kidyankee764

It won’t end anytime soon, I’m thinking. Real estate experts are suggesting home values will go up another 20% nationwide, which means about 16% in CT if the pattern continues.

Thank God I purchased when I did.

How about we revisit this statement when Fed stops backstopping billions in MBS next week. You guys are funny. The real estate bubble just magically happened and will never end. It will be a sad experience for many buyers..mark it down.