That headline might be a little aggressive. However, as the data on the 2016 Connecticut housing market begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME!

The May numbers are not in yet, but the April numbers were sensational. Jonathon Smoke, Chief Economist at realtor.com, explained:

“We had a triple crown of April Connecticut home sales reports, so 2016 is in the pole position to earn best year of home sales in a decade.”

And Freddie Mac also expressed a tremendous optimism regarding Connecticut home sales for the rest of the summer:

“Connecticut home sales typically rise in the spring and summer months, and we anticipate acceleration in Connecticut home sales that will surpass 2007’s pace by late summer.”

The only challenge to the Connecticut market is a severe lack of inventory. A balanced market would have a full six-month supply of homes for sale. Currently, there is less than a five-month supply of inventory. This represents a decrease in supply of 3.6% from the same time last year.

Bottom Line

With demand increasing and supply dropping, this may be the perfect time to get the best price for your Connecticut home. Contact a real estate professional at Dave Jones Realty today to see whether that is the case in your neighborhood.