Finally, spring has sprung, and the real estate market has responded. I hear stories every day about listings that have sold in one day, listings that have not sold for two years and now have two offers in one week, listings that are having showings right and left, and buyers that are finally moving off the fence.
The market continues to be driven by first-time homebuyers, and there are still people moving here from other places that are choosing to rent before buying, but the activity is clearly on the upswing, and there is much more of a sense that things are beginning to recover. While we have more inventory than many other regions of the country, even we are seeing quick turnover in some neighborhoods and price ranges. For instance, Guilford still has 275 homes on the market, which is a 50% increase over last year, but houses are selling quickly there when they come onto MLS. East Rock in New Haven has 30 houses for sale, but one of our agents just sold one in a single day.
Have you been waiting for the market to turn so that you could buy or sell? Have you been waiting for prices to bottom out? Have you just been waiting? Wait no more. The time is now!