January 22, 2019

CT Cities Last in the Country to Hit Price Bottom

Connecticut may be one of the last states in the country to join the housing rebound, according to a new report from ZILLOW.

The Real Estate listings portal projects that prices in the Nutmeg State, unlike the rest of the country, have not yet bottomed out. Also, ZILLOW projects a further fall of 1.4% in the median home value to $219,956 by February 2014, down from $223,100 today.

According to ZILLOW’s data, some cities are holding back the states recovery. While prices in Hartford seem to have bottomed, New Haven, New London and Stamford comprise three of the nine metropolitan areas out of the 250 tracked by ZILLOW where further price declines are expected in the coming months.

That’s in stark contrast to the national picture, with home values nationwide rising for the 16th straight month in February, and all 30 of the largest metro areas covered by ZILLOW registered in both monthly and annual appreciation.