New Haven Real Estate Market Outlook:
Appreciation Trends
By Steven Rivkin (203) 982-4985 srivkin@planetrealtyct.com
T
he 2020 housing market saw the nation record some of the highest volumes in home purchases ion recent history. It was the year that marked massive price increases in the real estate sector sending massive shockwaves that up to date we are still feeling the impacts. The people who were lucky to get into the market before it went haywire are reaping the biggest benefits. The increase in sales volume pre and during the covid-19 season were accompanied by two main factors that would later shape the 2021 housing market; •
Inventory shortages.
•
Home value increase.
These two factors have caused the home prices 120 | MAY 2022
to skyrocket beyond reasonable limits in most markets and New Haven Connecticut is no exception. NEW HAVEN OVERVIEW New haven is a larger medium-sized coastal city in the state of Connecticut. It has a population of about 134,023 people and 32 neighborhoods. It is the largest community in Connecticut. One feature you’ll love about this town is that it has a large stock of pre-world war II architecture which makes it one of the nation’s more historic cities. In terms of demographics, Blacks and Latinos are the most prevalent in the city accounting for 31.2 percent followed by whites who account for 29.5 percent of the population in the city. The Asian community make up 4.9 percent of the city while the American Indian and Alaska Natives
