If you’re buying a house in Connecticut, the time of year can make a difference in the variety and pricing of listings. Finding the perfect time with both good supply and low prices can be difficult.
If you’re trying to time the Connecticut market, get in touch with an experienced local real estate agent. Local agents understand the seasonal variances and how to get the most for your money.
Here are some things you need to know about when to buy in Connecticut.
Best Time of Year to Buy in Connecticut
The Connecticut market is hot and appears poised to remain that way. Connecticut home values were hit hard by the recession but now are back on the rise.
The median home value in Connecticut is $243,700, nearly $20,000 above the national median. But your dream home could still be within reach.
Before you think about what time of year to buy, you need to consider your priorities: What’s most important to you and your family? Do you want the lowest prices? The largest selection of houses? Or something in between?
If you’re looking for the lowest possible prices, start looking in the fall and aim to buy the fall or winter. In fall and winter, there are fewer homes on the market but also far fewer people looking to buy.
Particularly in areas with harsh winters, homeowners selling from November through February are often selling because they have to, not because they want to, and that can lead to great deals — if you can find them.
Biggest Selection of Homes
If selection is more important than price, spring is for you. April has the most listings of any month, and April, May, and June are by far the three most popular months for new listings.
Unfortunately for buyers, spring is also the most expensive time to buy in Connecticut. In the spring selling season, with the most availability also comes the most competition. From March to May, one in every four houses sells above its list price. Even in the slower years since the recession, Connecticut homes have sold well in spring.
Middle Ground: Good Selection & Good Prices
If you want a middle ground between the craziness of spring and the lull of winter, looking towards the end of summer might be for you. There’s a larger selection of homes available than in the fall and winter, and unlike in spring, houses will be priced to move.
Homeowners who had hoped to sell in spring or summer, but didn’t, will start to lower their prices. Sellers will want to move before the weather gets cold. Parents want to move before the school year starts. And because the end of the season attracts fewer buyers, there should be good deals available. This is especially true of the Connecticut coast.
The Best Places to Buy a Home in Connecticut
The Simsbury area is one of the hottest spots in Connecticut. Between Simsbury Center, Weatogue, and West Simsbury, this part of Connecticut has a lot to offer. It’s no wonder it ranks towards the top of any list of places to live in Connecticut.
Bridgeport is full of historic charm, and with its location at the mouth of the Pequonnock River on Long Island Sound, it’s an easy commute to New York. And with a median home value of $164,100, it’s affordable for many buyers.
Avon is a small suburb of Hartford with a lot to offer. Known for its public schools, restaurants, cafes, and parks, Avon is a great place for young families and retirees alike.
If you’re really looking for a deal, Hartford is the place to go. With historic architecture, all the conveniences of a modern city, and a median home value of just $130,900, Hartford is a city where you can get a real bang for your buck!
4 Ways to Get a Great Deal On a Home in Connecticut
1. Find a Great Connecticut Real Estate Agent
An important step in the home buying process is finding the right real estate agent. You need an agent who knows the local market inside and out and can advise you on the best time to buy in your part of Connecticut.
A good agent will know local trends and understand when a buyer like you should look closely at the market. Realtors are experts and can help advise you on what time of the year to buy to fit your family’s needs.
Learn More: What Does a Real Estate Agent Do for a Buyer?
2. Assess Your Needs and Lay Out Your Goals
When you’re buying a home, every decision is personal, including when to time your purchase. Some buyers care most about price, while others are more interested in having the best selection to choose from. Some are tied to a specific location, while others don’t have a particular area in mind.
Figure out your needs and priorities before you start looking. From there, you can get a better idea of when the time is right for you to look.
Learn More: What to Look for When Buying a Home
3. Find a Lender and Secure Financing.
Home buyers have many different financing options, from government-sponsored and subsidised loans to traditional mortgages with private lenders. Your agent can help you evaluate your financing options and figure out what will work for your family, given your goals and current financial situation.
Remember, the closing process typically takes around 30 days, so if you’re on a fixed timeline, be sure to tell your agent.
Learn More: A Step-By-Step Guide to the Home Loan Process
4. Negotiate for the Best Possible Price
Once you’ve found your dream home, your agent will help you prepare and make your offer. When looking for an agent, make sure you find an expert negotiator who will save you money every step of the way.
Learn More: How to Find a Buyer’s Agent That’s a Good Negotiator
If you’re shopping for a home in Connecticut, get in touch with a Clever Partner Agent. Clever Partner Agents work for you by providing on-demand showings and $1,000 rebates to help cover closing costs (where permitted by law).
Fill out our online form and we’ll put you in touch with a Clever Partner Agent in Connecticut for a no-obligation consultation.