The winter real estate season has begun!
While this typically equates to a slow-down in the Connecticut real estate market, we haven’t seen signs of that happening this year.
Whether you are a buyer or a seller, keep reading to learn what to expect as 2020 comes to an end.
It’s no secret that it’s currently a seller’s market in Connecticut. With over 4,000 pending sales per month from June through October, the past five months have been record-breaking. This year, buyers are still active now that we’ve entered Quarter 4.
Danielle Hale, realtor.com®’s chief economist, said:
“We currently see buyers sticking around in the housing market much later than we usually do this fall. If that trend continues, we will see more buyers in the market this winter, too. So this winter is likely to be a good time to sell.”
This means if you are ready to sell your home, there’s no need to wait for the spring market.
Even though homes are moving quickly, buyers still have the advantage of this year’s low mortgage rates. With many buyers locking in rates under 3%, this gives more buying power.
Every year, pending sales in Connecticut reach a low point in December. With holiday gatherings, people often put a pause on their home search, leading to a decrease in properties going under contract.
If you are a buyer that hasn’t had an offer accepted yet, keep searching through the holiday season. Other buyers may slow their search, giving you a better chance of securing a home.
One + Company remains grateful for all of our clients. Without you, we wouldn’t be able to do the work we love. We remain committed to providing the best value and service through the holiday season and beyond!Questions? Contact Us!