It was a busy year for buying and selling homes but a new report is showing communities are moving properties even faster than others.
We are stretching your dollar with where homes are selling and how to target the people buying.
It was a busy year of buying and selling homes in Connecticut but according to realtor.com, some communities were more popular than others. They took a close look at zipcodes in Hartford County and found those Manchester, West Simsbury and South Windsor have some of the hottest markets in the state right now.
They looked at the affordability of homes, the employment rate and how much residents are making in those communities.
They also looked at who’s buying?
“Millennials are 37% of recent mortgage purchasers. They’re a substantial force in the market,” said Danielle Hale.
Danielle Hale, Chief Economist for realtor.com, found millennials are driving demand, something to keep in mind if you’re hoping to sell.
“In order to cater to millennials, you want to make sure that you price your property well, that you’ve got it in good condition, so it’s move-in ready. Millennials are interested in things that are easy, so getting into the property right away,” said Hale.
If you’re interested in a neighborhood where properties move fast, she suggests you set up a price alert on sites like realtor.com. You can be notified when a property in your price range hits the market.
It’s also important to act quick before interest rates rise. She’s expecting home sales will slow down as a result.