Decembers Real Estate Market: Stay Informed!

December’s real estate market, Stay Informed!

Whether you’re buying or selling a home, staying informed is key. Partnering with an experienced and knowledgeable REALTOR® like myself whose background includes homeownership, investing, being a landlord, builder and mortgage loan officer will make the process smooth and successful. Selling or buying is an emotional journey with many steps. A solid understanding of the economy and local markets can significantly influence the success of your real estate goals.  Updates include both Fairfield and New Haven Counties.

Our Economy

• Minutes from the last Fed meeting showed members favored slowing rate cuts to balance inflation risks with those of economic overheating.
• The December jobs report revealed a modest drop in the unemployment rate to 4.1% from 4.2%.
• December jobs report supports the claim that the U.S. labor market is relatively solid, other recent data also reinforced this. Initial jobless claims are also very low. Continuing claims are around 1.1% of the labor force.
• Strong December job reports may kill the chance of a rate cut in January.
• Analysts expect the 30-year fixed rate to stay in the mid-6% range throughout 2025 and 2026, although the forecasting is far from guaranteed and very difficult.
• Next Fed meeting is January 28-29.

Inventory

• The supply in Fairfield County was down 11% and New Haven County was up 6% for both Single Family Homes and Condo’s compared to this time last year.
• If you’re considering selling, now would be the ideal time.
• If you are waiting for the rates to change, you may be waiting a long time.

Buyers’ Demand

• Buyer demand slightly declined again in both Fairfield and New Haven Counties. Both Counties combined reflected a .3% decline in closed over asking price.
• My projection is that the buyers demand will start to soften as the Fed’s hold back on rate cuts.

Average Sales Price

• Average sales price rose to 8% in Fairfield County for Single Family Homes, almost 15% for Condo’ compared to this time last year.
• You may want to consider moving to New Haven County if you’re looking for more bang for your buck.
• New Haven County has shown considerable increases in the Average sales price this past year with Single Family Homes up over 7% and Condo’s up over 8%.
• Thinking about relocating? Contact me today, home prices are climbing!

Market Conditions

• Overall, Decembers Real Estate Market market conditions are holding steady, very similar to 2023.
• Interest rates are barely declining.
• Trends in both counties exhibit competitive markets with fast sales and limited inventory.

Neighborhood Market Trends

• Stay informed about your neighborhood market trends.
• Register to receive your neighborhood market trends for news about your market area.

Don’t LOVE Where You Live?

• If you don’t love where you live? Let’s Talk!
• I specialize in helping sellers, buyers, seniors, relocation, landlords and up or down sizers.
• I’m not your average REALTOR®, I am a homeowner, investor, landlord, builder and have 7+ years’ experience as a mortgage loan officer, processor and jr. underwriter.

Selling or Buying 

• It’s essential to stay informed through reliable sources like me.
• Whether you’re buying or selling a home, staying informed is key
• I’ve assisted 100’s of sellers and buyers achieve their real estate goals.
• I can help you too!
• Servicing both Fairfield and New Haven Counties.

Contact LeeAnn Today (203) 253-4567

• Ask for a NO obligation, COMPLIMENTARY consultation regarding your housing goals.
• I am happy to help you, friends and family members achieve your real estate goals
• Remember, it is always best to consult with a Professional REALTOR® like me.
• I appreciate all referrals.

Compliments of LeeAnn DeLeo, A Trusted Name in Real Estate
Broker, Blogger, Stagent® & REALTOR®
(203) 253-4567
leeann.deleo@gmail.com
www.leeanndeleo.com

Follow, Like & Share with me on SM
Facebook  @RealtorLeeAnnD  @LeeAnnDeLeo  @GrowFoodNotLawnCT   @EmptyNestersLifestyleCT
Blog Sites LeeAnn’s Blog Spot  Empty Nesters Lifestyle CT  Expert Advice Real Estate

Source: SmartMLS, Federal Reserve, US Economy