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How’s the market? – January, 2018

Joni Homes

How’s The Market

Dear friends,

Hope you like my new JoniHomes newsletter, How’s The Market? Each edition will recap the latest market info and share my inside scoop.

Glad to report 2017 saw an increase in volume across our area — Westport’s was most dramatic at 17.5% ! although not every town saw an increase in prices. (Westport’s average sale price was unchanged at year-end.)

I am very proud to report that although the local list to sale prices averaged between 92-94% (varies town to town) in 2017, my own listings sold within 98.5% of their asking prices on average in 2017. That’s up 1.5% from 2016.

There are many indications for strong market conditions ahead in 2018. Below you will find more on this, as well as a link to the latest market data, and some of my own listing highlights.

Wishing you and all your loved ones a happy and a healthy New Year.

Joni

How did we do in 2017?

Market Data Graphic

Click to get my detailed market reports for Southern Fairfield County

What’s ahead for 2018?

weather 2018 graphics

Will this year bring us a buyer’s or seller’s market?

The answer could be both, according to Inman News, the leading Realtor news website. Leading economists, according to Inman, say the increasing shortage of housing supply across the US, relative to increasing millennial demand, will likely intensify as more millennials decide to become homeowners.

This usually means a rise in prices and thus a seller’s market. However, many sellers (older than today’s buyers on average) have become “prisoners in their own homes,” fearful of rising mortgage rates and their next purchase to list their homes. T his coupled with changes to the tax code, experts say, will actually de-incentivize some new home purchases in 2018 to some extent, but will also provide buyers more room to negotiate in certain markets.

One thing is for sure — the 2018 market promises to be interesting.

2017 JoniHomes Highlights

Westport debuts ‘Ultimate Modern Farmhouse,’
View 3D tour!
& Launches newly-revamped Coldwell Banker Global Luxury program along with stylish new furniture collection

73 Old Hill Launch

Over 100 top brokers from Connecticut & Westchester, along with Coldwell Banker corporate executives, and several distinguished members of the Connecticut press, were in attendance at the debut of ” The Ultimate Modern Farmhouse located at 73 Old Hill Road, Westport. This home is the latest creation by legendary builders of ‘haute couture’ homes and iconic architecture, Schmiedeck Construction.

Attendees got a sneak peak at the latest Mitchell Gold furniture collection (MGBWHome.com) as well, which was used exclusively in staging this home. Agents were also briefed by Coldwell Banker president, Joe Valvano, on the company’s newly redesigned and rebranded ‘Global Luxury’ program, the unique and most widely-recognized marketing platform for premium-priced properties in the US and around the world.

While touring the state of the art 10,000+ s.f. farmhouse, located in the tony Old Hill estate section, participants networked with company executives, leading branch managers and fellow agents across the region. All enjoyed a vintage California ‘bubbly bar,’ gourmet small bites from noted Chef Rui of Greenwich, and coffee table books as gifts, courtesy of MGBW Home and Show To Sell, LLC.

*** Coming Soon ***

Looking forward to sharing more photos of these fabulous properties, coming soon to the MLS….

Coming Spring 2018

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