First Quarter 2020 Market Watch
Coming off a strong back half of 2019, all of the areas where we do business witnessed significant gains over the same time the prior year, with closed unit sales and dollar volume experiencing notable increases across the board. And yet, considering the dramatic impact of COVID-19 throughout the world, the real estate market’s performance in the first quarter is not the story we are focused on right now.
As you read through the Connecticut sections of this report, you’ll note that for each week in March we’ve provided statistics on new properties hitting the market, closed transactions, withdrawn listings and more. By drilling down to this level of detail for the period in which the crisis took hold, we can better understand how supply and demand responded in real time. The numbers in fact leave us cautiously optimistic that demand remains strong, that people are still active in the market.