Life Returning To High-End Housing Market
If the last two to three months are any indication, Connecticut’s high-end housing market could be in for some significant gains this year.
A total of 300 single-family homes with prices tags of $800,000 and higher traded from December through mid-February, according to The Warren Group. That’s more than double the 141 homes that sold in that price range during the same period a year earlier.
Just about half the homes priced $800,000 and more that have sold in the last two months have been concentrated in the upscale communities of Darien, Fairfield, Greenwich and Westport.
Confidence is returning in the housing market and the homebuyer tax credit has helped boost sales volume. Agents say there’s been some pent-up demand from homebuyers who’ve been too nervous to make a move but are now starting to feel more confident because their stock portfolios and retirement accounts have rebounded.
The Warren Group will release new numbers toward the end of this month and it will be interesting to see what they reveal.