[synchem]

We had a tough time finding a 4-bedroom in a good school district. Supply is really low and if the house is good it sells immediately. We had to act fast to get the one home we liked. The starter home we were selling was under contract in 2-days for full asking as it was all updated recently.

Good homes will definitely be under contract immediately. Supply is limited. Whenever this ends there will be a huge glut of homes on the market that usually go on in Spring time. I think it will immediately flip from a sellers market to a buyers market.

[Stylo]

Originally Posted by synchem

We had a tough time finding a 4-bedroom in a good school district. Supply is really low and if the house is good it sells immediately. We had to act fast to get the one home we liked. The starter home we were selling was under contract in 2-days for full asking as it was all updated recently.

Good homes will definitely be under contract immediately. Supply is limited. Whenever this ends there will be a huge glut of homes on the market that usually go on in Spring time. I think it will immediately flip from a sellers market to a buyers market.

Where did you wind up?

My friend was looking only in Milford at first but it's been so hard he's opened his search up to other towns.

[BPt111]

Originally Posted by synchem

We had a tough time finding a 4-bedroom in a good school district. Supply is really low and if the house is good it sells immediately. We had to act fast to get the one home we liked. The starter home we were selling was under contract in 2-days for full asking as it was all updated recently.

Good homes will definitely be under contract immediately. Supply is limited. Whenever this ends there will be a huge glut of homes on the market that usually go on in Spring time. I think it will immediately flip from a sellers market to a buyers market.

Hartford area: Avon, Berlin, Farmington, Glastonbury, Marlborough, Simsbury

Waterbury area: Cheshire, Middlebury, Southbury, Woodbury, Southington

Bridgeport area: Shelton, Monroe, Trumbull, Seymour, Oxford

New Haven area: Woodbridge, North Haven, Wallingford, Branford, Guilford, Madison

[Stylo]

Originally Posted by BPt111

Hartford area: Avon, Berlin, Farmington, Glastonbury, Marlborough, Simsbury

Waterbury area: Cheshire, Middlebury, Southbury, Woodbury, Southington

Bridgeport area: Shelton, Monroe, Trumbull, Seymour, Oxford

New Haven area: Woodbridge, North Haven, Wallingford, Branford, Guilford, Madison

Huh?

[BPt111]

Originally Posted by Stylo

Huh?

I was suggestion other areas to look at

[Stylo]

Originally Posted by BPt111

I was suggestion other areas to look at

Gotcha.

[ayoskillz]

Originally Posted by synchem

We had a tough time finding a 4-bedroom in a good school district. Supply is really low and if the house is good it sells immediately. We had to act fast to get the one home we liked. The starter home we were selling was under contract in 2-days for full asking as it was all updated recently.

Good homes will definitely be under contract immediately. Supply is limited. Whenever this ends there will be a huge glut of homes on the market that usually go on in Spring time. I think it will immediately flip from a sellers market to a buyers market.

my dad just recently sold his house in new haven area. Above asking price. Reason being the buyers have been renting and planning to buy a house now anyways, with their situation they could no longer stay where they were at because the owner was putting the house on the market himself. He had 6 families come to see the house first day in market and 4 put in a offer same day of asking so thats why they ended up going to war

[synchem]

Originally Posted by Stylo

Where did you wind up?

My friend was looking only in Milford at first but it's been so hard he's opened his search up to other towns.

We went with Cheshire. I really love Milford and we do love the beach, but we didn't want to sacrifice the size of the yard. Also the 4-bedrooms in the good areas we didn't like they were on a main road (Gulf Street ones). Also Cheshire is closer to both our families who are in the Hartford area. Cheshire was the best compromise between family distance and work distance compared where we are now.

Still waiting for our buyers to get their commitment from lender. When they are ready we will have our closing. Hopefully within a week.

Things were moving normal speed end of March and early April. But lately things have slowed way down in the mortgage process. My lawyer is telling me he's seeing many extension, and not having any type of extension is abnormal these days. He also said he saw one mortgage get pulled 2 hours before the closing as a buyers employment status had changed. So they are checking very frequently with employers about the applicants.

In terms of housing, Guilford and Madison were just too far for us from work and family. Also we weren't keen on everything being septic and well that was available to us. Same with Orange/Woodbridge(taxes too)/Bethany even those the Amity three were closer to our work. Branford 4-bdr housing supply seemed to be the worst of all the areas we looked at, Milford was the second lowest IMO.

[CTartist]

Originally Posted by JayCT

I’m seeing a lot of properties going under contract but not a lot of new listings in the towns I watch. Makes me think there will be a shortage of listings as the spring selling season proceeds. Will see. Jay

I see you talking about the inventory and house sales so I was curious. I looked at the Market Reports. Personally I would not want people walking through my house at this point with the pandemic so I am thinking people who WOULD HAVE listed their homes this spring are waiting. It appears there are no homes in my neighborhood for sale. Let's see. The info is from William Pitt.
https://www.williampitt.com/communit.../market-report

NEW LISTINGS COMPARED TO APRIL 2019
Fairfield DOWN 67%
Trumbull DOWN 75%
Westport DOWN 34%
Greenwich DOWN 59%
Darien DOWN 83%
Wilton DOWN 76%

Milford DOWN 75%
Branford DOWN 56%
Orange DOWN 63%
New Haven DOWN 46%

Etc......all the towns are down significantly. Westport is the only one that is not too bad that I can see.

As I suspected it seems like most people don't want strangers coming into their houses right now. If the New Yorkers want to come to CT there are no houses for them to buy.

[JayCT]

Originally Posted by CTartist

I see you talking about the inventory and house sales so I was curious. I looked at the Market Reports. Personally I would not want people walking through my house at this point with the pandemic so I am thinking people who WOULD HAVE listed their homes this spring are waiting. It appears there are no homes in my neighborhood for sale. Let's see. The info is from William Pitt.
https://www.williampitt.com/communit.../market-report

NEW LISTINGS COMPARED TO APRIL 2019
Fairfield DOWN 67%
Trumbull DOWN 75%
Westport DOWN 34%
Greenwich DOWN 59%
Darien DOWN 83%
Wilton DOWN 76%

Milford DOWN 75%
Branford DOWN 56%
Orange DOWN 63%
New Haven DOWN 46%

Etc......all the towns are down significantly. Westport is the only one that is not too bad that I can see.

As I suspected it seems like most people don't want strangers coming into their houses right now. If the New Yorkers want to come to CT there are no houses for them to buy.

Wow. I’m guessing it’s the same across the state. May is a big month for home sales so with those numbers it will certainly be a tough season. Jay