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How’s The Market ? December 2019

Dear Friends,

Do you see a lot of for sale signs around your neighborhood ?

Well, guess what ? We currently have FAR LESS housing inventory for sale in towns around Fairfield County with only a couple of exceptions, and this scarcity is good for our market. And though we have been experiencing longer market time on the whole (average days on market) the good news is that sales volume, while still down from 2018, is trending upwards — not nearly as saggy as the year began. In a couple of towns, the sales volume is actually up year over year — mostly because of more modestly priced homes and condos in these locations and recent price adjustments on higher priced inventory.

But remember we live in an area of the country where there is A LOT OF NUANCE to the market — some things are still selling at great prices in certain niches of the market. We at JoniHomes just had a robust multiple offer situation on the fabulous luxury priced Southport Village property below, which is due to close early 2020 at a record price!

In addition, CNBC reported that homebuilder confidence in newly built single family homes is the highest it’s been in 20 years. The report says this is based on a stronger economy and housing shortages in some areas of the US. See link below for more.

Do you have questions about the market and how your property stacks up ? Always good to check with a live expert — not a WebMD equivalent for real estate self-diagnoses. Always happy to oblige, no strings attached.

Best wishes for a festive holiday, and a wonderful new decade ahead.

My best regards,