[BobNJ1960]

Originally Posted by Stylo

Yeah but it doesn’t seem like “cities” are done at county level in other places on these lists

That may be a factor of size, Stylo. As a small state, Ct data is often aggregated.

In the Southeast, places that were thought of as just a big cities burb 20 years ago, frequently have a bigger population now than our most populated city. That makes it more effective to further aggregate data in states without significant growth.

[Stylo]

Seeing a lot of homes sell for above asking in March. Spring market heating up plus historic low inventory.

[SteveM85]

Originally Posted by Stylo

Seeing a lot of homes sell for above asking in March. Spring market heating up plus historic low inventory.

A house in Stratford just last week had 20 showings the first day and countless in the next few days. It’s assumed it settled well over ask.
Not surprising since inventory is at record low levels.

I don’t have links. The neighbor told me

[Stylo]

Originally Posted by SteveM85

A house in Stratford just last week had 20 showings the first day and countless in the next few days. It’s assumed it settled well over ask.
Not surprising since inventory is at record low levels.

I don’t have links. The neighbor told me

That’s how my neighbor’s house was. A gut job (new owners currently gutting) and had easily 100 showings and went 80k over.

[Beeker2211]

Off hand, but kind of interesting.

Heard in the last few months of a few buyer friends/well-wishers getting off-market purchases, many at lower than appraised value.

[BPt111]

Originally Posted by SteveM85

A house in Stratford just last week had 20 showings the first day and countless in the next few days. It’s assumed it settled well over ask.
Not surprising since inventory is at record low levels.

I don’t have links. The neighbor told me

Stratford, Milford, Shelton, Orange real estate been hot recently

[SteveM85]

Originally Posted by Beeker2211

Off hand, but kind of interesting.

Heard in the last few months of a few buyer friends/well-wishers getting off-market purchases, many at lower than appraised value.

Yes
I just sold off market back in Jan and renting back. Not below Zestimate though. All cash no contingencies.
I’m down south as we speak closing on a deal at 11am. I’ll be riding the Avelo Express the next few years.

[SteveM85]

Originally Posted by BPt111

Stratford, Milford, Shelton, Orange real estate been hot recently

And another150 or more CT places

[Lincolnian]

In NH the inventory is super low and demand is even stronger than CT. Even towns previously considered undesirable are seeing homes sell at obscene prices. Some towns that I am very familiar with have had only 1 or 2 homes in the entire town for sale at any given time over the past two years. Recently, a home that sold for $280k back in 2016 was put on the market. It was listed for over $550 and they had over 100 visitors at the open house. It went under contract in 4 days and sold for nearly $50k over the listing price despite not having a single thing done to it since it was last purchased. This house is in need of significant upgrades throughout this very basic house.

Inventory shortage or not, this market has all the makings of a bubble. It is naive to think that buyers will not walk away from these homes should the bubble burst and/or the economy sink into a recession leading to job losses which makes supporting the high cost of carrying over-priced homes difficult.

I have been following many markets, including CT. Many of the recent listings coming to market are the least desirable ones. There are more foreclosures, small capes/ranches that are totally trashed and have been neglected for decades, and homes that are just plain old, lacking any charm or architectural interest but are priced very high. I wonder how many are inherited properties that are being listed just to see how high they can go with the list price and find a sucker to buy it? I have seen this movie before. Every time the price is justified due to some "it's different this time" claim. The movie always ends the same way with prices falling and nobody wanting to touch certain properties for a decade or more.

[mels]

Originally Posted by Lincolnian

In NH the inventory is super low and demand is even stronger than CT. Even towns previously considered undesirable are seeing homes sell at obscene prices.

I am not sure what area of NH you are talking about, but southern NH especially is feeling the crush of the absurd Boston housing market on top of everything else. The more the non-wealthy get squeezed out of the Boston metro, the worse it will keep getting for NH real estate prices and inventory. Even rentals now go through bidding wars in Boston and the prices get further jacked up. Something has got to give.