What’s In Store For 2011?

Will real estate sales pick up in 2011?  It’s tough to say.  I did some research on the number of single family home sales in a few towns in New Haven County via the Connecticut Multiple Listing Service (CTMLS) over the past few years and found some interesting numbers.  While the town of North Haven saw an increase in the number of single-family home sales last year for the first time since 2005, it wasn’t a big increase.  It definitely wasn’t big enough to say that the number of home sales will continue to rise thru 2011, but I’m a glass half-full kind of person so I’d like to think it will. 

In looking at Wallingford’s numbers, 2009 was better than 2008, but last year’s sales dipped below 2009’s levels.  Hamden, CT is still looking for a year over year increase in single family home sales; something the town hasn’t seen since 2005 when 702 units were sold.  That’s a long way off from the 397 homes that were bought in 2010. 

The numbers are interesting to look at, but Real Estate is a personal decision.   In general, with lower home prices and low interest rates now is a great time to buy a house.  Conversely as a seller, you might not get as much money for your home as you would have a few years ago, but you’ll be buying your next house at the lower market price; effectively making it a wash.  

Whether or not 2011 is a good year for you to buy or sell a home depends on your unique situation.  If you’re thinking about buying or selling real estate now or in the near future, the best thing to do is to talk to an experienced real estate agent.  He or she can give you specifics on what is going on in your area and advise you on your best options.

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