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Erica Byfield
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In this changing market, sellers and buyers are relying on agents ... show more
In this changing market, sellers and buyers are relying on agents ... show more
Erica Byfield answered:
Hi...
Like everywhere else in the state and the country within the last year the market in Storrs,CT is experiencing an increase in inventory and buyers are taking their time to purchase. Recent issues: forclosures, decline in new home sales have contributed to this current market condition. Let's face facts... homes that are over-priced will stay on the market longer. This isn't to say that home values are decreasing, just that buyers have more options and seller's have tomake the adjustments. Homes that are priced appropriately, are well-maintained and in good locations continue to sell within 30-45 days.
Storrs has much to offer prospective buyers and with interest rates still at historic lows, buyers are motivated to purchase. If you are in the market to sell and/or purchase a home in that area, you should consult with a Realtor to provide you with a CMA or (as a buyer) a report of recently "just listed", "sold" or "on deposit" homes in that area.
Best of Luck: :
Like everywhere else in the state and the country within the last year the market in Storrs,CT is experiencing an increase in inventory and buyers are taking their time to purchase. Recent issues: forclosures, decline in new home sales have contributed to this current market condition. Let's face facts... homes that are over-priced will stay on the market longer. This isn't to say that home values are decreasing, just that buyers have more options and seller's have tomake the adjustments. Homes that are priced appropriately, are well-maintained and in good locations continue to sell within 30-45 days.
Storrs has much to offer prospective buyers and with interest rates still at historic lows, buyers are motivated to purchase. If you are in the market to sell and/or purchase a home in that area, you should consult with a Realtor to provide you with a CMA or (as a buyer) a report of recently "just listed", "sold" or "on deposit" homes in that area.
Best of Luck: :
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