How's The Market?

As we head into 2023, the key to success lies in one word: perspective. Being educated on today’s market – not only relative to the last two years, but more importantly – the year prior to that.

 

2022 saw an increase in prices of ~40-50% over 2019. Fewer homes sold for more money – and at lighting speed. This was never sustainable. As the market settles into a “new normal,” homes are worth more than they were in 2019. This will remain the case, despite anticipated softening as the market rebalances. While inventory remains down from the sky-high pace of 2020-2021, it’s in fact, stable relative to the last 10 years.

 

What is different from 2019 is demand, post-COVID where remote and hybrid work are here to stay. We are still seeing strong buyer demand, despite an uptick in interest rates. With more buyers than homes to buy, it remains an opportune time to sell throughout Fairfield County. Many buyers will also have new opportunities at different price points with more rate-sensitive competition taking a back seat. Those with perspective, who are realistic and responsive to the market as it moves will continue to be successful in 2023.

Contact us for a complimentary consultation to discuss options tailored to your personal circumstances.