October 2023 Newsletter

Hello Fall! In this month’s newsletter, learn five potential advantages of selling your home in the fall, creative and fun ways to enhance your yard with a fire pit, and try a few sweet and savory pumpkin recipes (is it even fall if you’re not making a pumpkin spice something?). As for real estate news, increasing mortgage rates are affecting home buyers’ affordability and inventory has decreased significantly year over year in many areas. As of week ending Sept. 23, 2023, new listings in Fairfield County and New Haven County were down 30.6% and 16.3%, respectively. New-home construction recently fell to a 3-year low, and building permits increased over the same period, rising 6.9% from the previous month (source: SMARTMLS). This news isn’t all bad because homes are still trading; opportunities are out there for both Buyers and Sellers. Lenders are pivoting with the market to assist Buyers with structuring affordable, competitive offers. Sellers can take advantage of strong sale prices, however, price, presentation, and marketing remain important factors when listing a home. As always, you can trust an experienced, local REALTOR® to help navigate both scenarios.

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September Fairfield County Area Report

September New Haven County Area Report