Without the benefit of a crystal ball, itis hard to say exactly where the real estate market will be in 12 months. However, the fact that southeastern Connecticut and southern Rhode Island areas do not expect a substantial influx of hiring within that time, its a fair bet the prices will either stabilize or continue to decline slightly in that time. Employment will be the primary driver in home prices locally (though we also have a second home market, reliant on disposible income in the greater NYC area as well).
That said, it probably makes sense to sell sooner rather than later, so that you are freed up (financially) to make a purchase/rent decision in your destination area without the pressure of a need to sell.
As to the value of your home in today's market, request a CMA from a qualified realtor, using sold comparable properties.
I am happy to offer my services, and to show you how to properly go about pricing your home for a succesful sale.... more