While most residential real estate continues to stumble in Connecticut, signs of life are echoing from the luxury home market as prospective buyers flush with cash are finding discounted home prices to their liking, spurring more deal flow, industry experts say.
In Greater Hartford, for example, there have been 61 deals closed for high-end homes of at least $700,000 in Avon, Farmington, West Hartford, Hartford, and Simsbury through July 1 of this year, compared to 47 deals a year ago, said RE/MAX Premier broker Lou Mira.
And other 42 high-end homes in the region are under deposit, not including deals made among private parties. “We are definitely seeing a resurgence in luxury home sales,” Mira said.
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