Q3 2024 Compared to Q3 2023

Q3 2024 Compared to Q3 2023: Real Estate Market Trends for both Fairfield and New Haven Counties. Stay informed by knowing the real estate market trends for your neighborhood. If considering selling, NOW is the time to sell-Inventory at an all-time low!

Buyer demand for Q3 2024 Compared to Q3 2023 for both Fairfield and New Haven Counties slightly declined. However, homes listed for sale are still receive multiple offers and selling above the asking price, keeping our real estate market strong. 

The Federal Reserve lowered the target range for the federal funds rate by 1/2 percentage point.  Next Federal Reserve meeting is November 6-7. Stay Informed!

On the Supply Side:  Once our inventory begins to increase the buyer’s demand will begin to decrease. Inventory is still low. Thinking of selling NOW is the time.  Q3 2024 we saw a decrease in the inventory of new homes for sale in both Fairfield and New Haven Counties in September.

Buyers’ Demand: Sell while the buyers’ demand is still strong, sell now!  Want more than your ask price? Sell now! Q3 2024 Fairfield County saw a slight decline of .08% over ask price on closed homes and New Haven County a slight decline of .05% over ask.

Movement for the Market in Fairfield County: Can’t afford Fairfield County prices? Want more bang for your buck? Consider moving to New Haven County. Single family homes in Q3 2024 in Fairfield County are selling for over 2.8% more than Q3 2023 and condos 5.6% more.

Market Activity in New Haven County: Consider buying your next home in New Haven County if the home prices are above your budget in Fairfield County.  Sales for single family homes in New Haven County were 10% more in Q3 2024 and condos were 18% more than Q3 2023.  Thinking of relocating? Let’s Talk!

Conditions: Overall conditions remain the unchanged! Real estate trends for both counties saw competitive real estate markets characterized by rising prices, fast sales, and low inventory, reflecting strong buyer demand and a limited housing supply.

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Selling or Buying: Do you know your neighborhood market trends? Recognize that the real estate market is constantly changing. It’s essential to stay informed through a reliable source like me. I am a homeowner, landlord, builder, investor and have worked in the mortgage lending industry. Combine your goals with my experience, and a good plan will ensure you a successful transaction.  I’ve assisted 100’s of sellers and buyers achieve their real estate goals. Specializing in sellers, buyers, seniors, relocation, landlords and up or down sizers. I can help you achieve yours.

Contact LeeAnn Today (203) 253-4567: Ask for a NO obligation, COMPLIMENTARY consultation regarding your market area and housing situation. Remember, it is always best to consult with a Professional Real Estate Agent.

Prepared By,
LeeAnn DeLeo, Real Estate Professional
(203) 253-4567
leeann.deleo@gmail.com

www.leeanndeleo.com

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Source: SmartMLS