The Connecticut Real Estate market made a notable shift in the fourth quarter of 2022, as inventory dwindled and demand remained high. Interest rates came down from highs seen earlier that year but were still higher than they had been at the beginning of 2022 – creating competitive bidding situations resulting in sales prices above asking price for many properties. Some houses didn't experience strong interest due to overpricing or needed renovation not factored into their asking price. As long as supply stays limited and demand remains robust, we should expect home values not to take too much of a hit moving forward. I am looking forward to guiding buyers & sellers through the 2023 Real Estate market!
