2023 Market Report

The Goldspiel Team

TEAM IN UNITS & DOLLAR VOLUME, WILLIAM PITT SOTHEBY’S INTERNATIONAL REALTY KENT BROKERAGE

Our local real estate market stayed strong in 2022 with the median sales price of single family homes in Litchfield County up 7% over 2021. For the year in Litchfield County, total unit sales and total dollar volume fell 17% and 10%, respectively. We attribute these declines to historically low inventory levels, down 25% vs 2021 and down 65% vs the pre-pandemic levels of 2019.* Low inventory remains our biggest challenge as we head into the upcoming year.

The Goldspiel Team at William Pitt Sotheby’s International Realty had another successful year with over $37.8 million in sales. Highlights include the sale of 46 June Road in Washington for $5.6 million; Rebecca Ward’s sale on North Spectacle Lake (Kent’s highest sale for the year); and Steve Pener’s recent sale of 151 acres in Warren (that town’s largest land deal). We also are pleased to announce Brian Hastings as our newest agent to our group.

Looking forward to our market in 2023, everything will hinge on available inventory. Having weathered rising interest rates, buyer activity and the appeal of the Litchfield Hills remains very strong. If you have any interest in selling your property, there is no better time than now.

WILLIAM PITT SOTHEBY’S INTERNATIONAL REALTY IS THE CLEAR

MARKET LEADER IN KEY LITCHFIELD COUNTY TOWNS IN 2022 *

Bridgewater, Cornwall, Goshen, Kent, Litchfield, Morris, Roxbury, Salisbury, Sharon, Warren, Washington, Woodbury Market Share

IN SOLD UNITS IN 2022

25% of all single family home sales, William Pitt Sotheby’s International Realty

IN SOLD DOLLAR VOLUME IN 2022

25% of all single family home sales dollar volume, William Pitt Sotheby’s International Realty

IN MARKET SHARE IN SALES BETWEEN $750,000-$1,000,000

38% share in units & 37% share in dollar volume of this market segment, William Pitt Sotheby’s International Realty

IN MARKET SHARE IN SALES BETWEEN $1,000,000-$2,000,000

35% share in units & 35% share in dollar volume of this market segment, William Pitt Sotheby’s International Realty

IN LUXURY SALES

28% share of homes sold over $1,000,000, William Pitt Sotheby’s International Realty