First-time CT homebuyers are flocking to the real estate market by the thousands to find their dream homes in order to make their dreams of homeownership a reality. Unfortunately for many, the inventory of starter and trade-up homes in CT has struggled to keep up with demand!
According to the National Association of Realtors (NAR), the inventory of CT homes for sale dropped 7.1% year-over-year to a 4.3-month supply and is down for the 25th consecutive month.
Some CT homeowners may be hesitant to list their homes for sale because they are worried that they will also have a problem finding a home to buy and move in to. This is a legitimate concern; no one wants to sell their home quickly and not have anywhere to live.
But there is good news! If you are thinking of moving up to a luxury or premium home in CT, there is more inventory available and you may even get a great deal on a home that has been on the market for a while.
If you are the owner of a starter home in CT and you are looking to move into a trade-up home, or if you are just looking to relocate to a new area in a home of the same size, there is still hope!
In the CT market, homeowners are building contingency plans into their contracts. This means that the homeowner builds in extra time before they close in order to find their dream home and they are upfront about the contingency with any buyers who come to see the house.
Your CThome is an oasis to buyers who are searching for homes in today’s market. The right buyers will sympathize and wait for you and your family to find your next home.
Bottom Line
Don’t let the fear of not finding a home to move in to stop you from moving on with your life. Let’s get together to discuss ways to set expectations with potential buyers from the start. Contact a Real Estate professional from Dave Jones Realty who can assist with any of your Real Estate needs!