Milford Connecticut Still Experiencing a Healthy Market

While much of the nation has experienced large drops in prices and an over abundance of homes remaining on the market, Milford Connecticut has only experienced a mild decline in housing values.

The median price for a home in Milford this year has dropped by about $5,000 to $335,000 which is about a 1.5 percent drop. Connecticut statewide had an average drop of about 2.5 to 3 percent during the first quarter of this year. The worst of these drops coming from New Haven, Bridgeport, Norwich, and Stamford, declining between 5 percent and 15 percent, according to a report by John Clapp, a University of Connecticut School of Business professor.

With all of the declining values about 5 percent more houses were sold this year in Milford than last year. Houses are typically staying on the market from 90 to 120 days when priced according to the market.

To read more about Milford houses selling, but prices decline head on over to the New Haven Register.