Housing trends in New Canaan CT. January thru October ’09

This year’s fall season has seen the traditional influx of new homes to the market in the month of September. With a short window of opportunity before the holiday season sellers scrambled to list their homes in hopes of capturing those buyers who are taking advantage of low interest rates and greater inventory. Prices have stabilized and with banks continuing to offer low rates now is the time to get on board. My prediction is there will be an active market after the first of the year..not the market we saw during  2004-2006, but a healthy exchange in the number of transactions. All indications point this direction from the number of people attending public open houses to the increase in the number of showings on listed homes.  Buyers are amassing information on specific homes and the market in general in preparation of moving forward after the first of the year.