Thursday, June 02, 2005
Field Reports
It would be great to hear some local reports from the field. Share you observations and analysis of the local housing market. Here in DC and Baltimore, inventory is up from past 2 months ( this is probably a seasonal variation). In the gentrified and gentrifying neighborhoods in Baltimore properties are not selling as fast and there has been an increase in the number of price reductions. However, other markets are much more likely to stagnate and pop first then the DC / Baltimore market.
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Housing in most of Connecticut remains strong. Outside of Fairfield county (near New York) prices continue to rise. In the Hartford area condo prices have edged up around 10% this year for better properties. Single family home prices are up near 10% and sales are brisk. New Haven is also strong, with homes and condos selling quickly. Fairfield county is another world-with the median price of a home around 500K-compared to 245K in the Hartford area, 255K in New Haven, and 222K in New London Groton. I frankly hope prices rise no more then 15% this year- but with low inventory and low rates they may.
ReplyDeleteDC inside beltway strong-20+ miles out slowing
ReplyDeletewe only went down 10-20% in the 1990-1995 stinker