Less must-do. More want-to. | March 2022
Record Strong Housing Market
Home prices soared in 2021 thanks to a huge surge in demand caused by the pandemic and rock-bottom mortgage rates. Together, these combined to fuel an unprecedented nationwide real estate buying frenzy. In 2022, home buyers should expect more of the same with sellers remaining strongly in the driver’s seat. Buyers should be prepared for fierce competition for any available homes.
The current real estate market is being moved by the same trends we saw last year, remote work and moves from big cities to more rural locations. The overall market saw an 18.2% increase in total sales from 2019 to 2021, according to a report from Berkshire Hathaway home Services. Nationally, Zillow expects home values to increase another 14.3% in 2022.
Here in Connecticut, the number of homes coming on to the market does not meet current demand. For this reason, realtors expect to see intense competition for available homes and a decrease in overall sales in 2022, even as prices for existing homes will continue to rise. Depending on where you live in Connecticut, your home has probably increased in value 20-40% since 2018. Now is a particularly good time to make a move to Duncaster because while Connecticut home values have risen dramatically, Duncaster has not increased entrance fees this year.
Meet New Residents
Susan Williams & Kanani Bell
Many new residents who have sold their homes to move to Duncaster have been thrilled by both the speed with which their homes sold and the prices they commanded when they did. For example, Kanani Bell and Susan Williams recently listed their West Hartford home for sale. The couple was astonished to receive 72 requests for showings in just four days. Less than a week after listing their home for sale and receiving multiple offers, the pair has a contract in hand and eagerly awaits their move to Duncaster later this Spring.
If now is the time for you to take advantage of the red-hot real estate market to plan your move to Duncaster, call Lisa Greene, Vice President of Sales & Marketing today at (860) 380-5006.