Southington 2022 Year in Review

The Southington real estate market definitely saw signs of a cooling market in 2022, and this adjustment will continue well into 2023. As Anthony explains further in his 2023 predictions, home sales are predicted to be down overall in 2023, and prices expected to continue to increase. Buyer demand has been heavily impacted by increased mortgage rates and this lessening in demand combined with a lessening of supply – mostly from hesitant sellers being unwilling to list and give up their low mortgage rate – will result in lower sales when compared to 2022. As far as prices go, they are projected to increase, but given the current nature of the market, they are not expected to increase at the dramatic pace as they have been over the past few years. Lamacchia has served clients in Connecticut for years, but recently opened a branch office in Southington, CT, so we look forward to documenting real estate housing market data for the area at greater length in 2023.

To learn more about Connecticut performance, click here to read the 2022 Connecticut Year in Review Report.