Selling or Buying in 2024? Insight into Brookfield's Real Estate Market Trends

Dated: January 22 2024

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Wooden houses with magnifying glass

     

     As we are at the beginning of a new year you might be wondering about the trends that are shaping the Brookfield, CT real estate market. Whether you’re just curious, a buyer starting the search for your dream home or a homeowner looking to make a move this year, these metrics can provide an insight to the local real estate market.  

     Brookfield’s Month’s Supply of Inventory currently stands at 1.3.  This represents the number of months it would typically take to sell all the available homes on the market if no new properties were listed.  A lower supply of inventory generally indicates a seller’s market, where demand exceeds supply.  This means that buyers are more likely to face competition.

     In the past 12 months there has been a significant decrease (-38.39%) in months of inventory.  This means that the supply of homes for sale has decreased over the past year. Buyers may need to move fast and be prepared. Sellers can face a stronger demand for their property which can lead to quicker sales and higher demand.

     The current Median Days on Market is an impressive 12 days, showcasing the brisk pace that homes are finding new owners. Properties that are priced right are not lingering on the market.

Buyers need to be proactive to secure their dream home and sellers can prepare for a quick and efficient process.

     Next, we have the List to Sold Price which stands at a robust 105.8%. This tells us that properties are generally selling at or slightly above list price, another indication of a strong sellers market.

     Lastly,  The median sold price for homes in Brookfield is currently at $462,500. This metric represents the middle value of the homes sold within a given area.  Meaning that some were sold for less and others for more.   Buyers can use this to get an understanding of the price range that they might encounter. For sellers this indicates a healthy market with potential for a good return on your investment.

     In conclusion, these metrics suggest a market that favors sellers.  The low inventory supply and decreasing months of inventory among the other data points toward a competitive market and showcases the enduring appeal of the Brookfield community. Buyers, buckle up as you travel on the road to home ownership. Sellers get ready for your next great adventure wherever the road might take you.

     Whether you're buying, selling, or exploring investment opportunities, it is crucial to stay informed and adapt accordingly. Connect with me, Sandra, your local real estate expert, to navigate the nuances of Brookfield's dynamic market in 2024.

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Sandra Visser

Selling or buying in upper Fairfield, lower Litchfield and western New Haven counties? Give Sandra a call, text or email for your personal analysis.....

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