Henri Gourd 914-954-3897 henrigourd@bhhsne.com IS THE TIDE TURNING? According to the Mortgage Bankers Association, would-be buyers are pulling back from the market. With 30-year fixed rate loans hovering in the 6.8% to 6.9% range, applications for mortgages to purchase a home (v. to refinance) are down almost 25% from the same time last year. On a local level, the number of single-family homes that sold in New London County is down by 35% compared to year-to-date 2023. Most of these sales were in the $200,000 - $350,000 range, which are typically reliant on obtaining a loan. With fewer approved buyers, sellers are not in the same position of strength. Instead of seeing offers at or above list price, this year the average selling price was 95% of the original offering price. Statistics do not tell the whole story; each home is different. Whether the market is moving up or down, you want know the trend and how your home stacks up in the market. Call your local Realtor to get the most current market read. BERKSHIRE HATHAWAY Home Services New England Properties Selling it all, from cottages to castles! Henri Gourd 914-954-3897 henrigourd@bhhsne.com IS THE TIDE TURNING ? According to the Mortgage Bankers Association , would - be buyers are pulling back from the market . With 30 - year fixed rate loans hovering in the 6.8 % to 6.9 % range , applications for mortgages to purchase a home ( v . to refinance ) are down almost 25 % from the same time last year . On a local level , the number of single - family homes that sold in New London County is down by 35 % compared to year - to - date 2023. Most of these sales were in the $ 200,000 - $ 350,000 range , which are typically reliant on obtaining a loan . With fewer approved buyers , sellers are not in the same position of strength . Instead of seeing offers at or above list price , this year the average selling price was 95 % of the original offering price . Statistics do not tell the whole story ; each home is different . Whether the market is moving up or down , you want know the trend and how your home stacks up in the market . Call your local Realtor to get the most current market read . BERKSHIRE HATHAWAY Home Services New England Properties Selling it all , from cottages to castles !