The Bethel Community Gazette
Friday
May. 24, 2019
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Real Estate News
By Jim DiLillo, Broker / Owner, DiLillo Real Estate

There are several positive signs emerging this spring that could sow the seeds for a positive uptick in Bethel's real estate market in the months ahead.

While some other parts of Connecticut have experienced a population decline, the Bethel area has continued to thrive. The downtown area alone has several new restaurants and other amenities that have opened in recent months contributing to the quality of life and the desirability of the community.

The average sales price of a single family home in town rose during the first quarter to $346,157, an increase of nearly four percent from the same previous quarter last year. The average price of a condo jumped more than 16 percent to $332,221.

While sales for both single family homes and condos declined during the quarter, inventory levels also began to drop, which could put additional price pressure on available properties in the months ahead.

Condos also remain desirable for empty nesters, particularly those from New York state, who are looking to downsize and are attracted to the area's affordability.

Another positive sign is increased activity in higher end homes and condos, which likely contributed to the average sales price. While homes above $400,000 had been sitting on the market longer in recent years, there has been a significant uptick in activity with several recent sales.

Favorable interest rates will also help contribute to this trend as buyers experience more purchasing power.

Rates have inched up slightly in recent weeks but are still at their lowest levels in more than a year. The average 30 year mortgage was at 4.17 percent as of April 22, according to Freddie Mac. That's down down significantly from nearly five percent reported in November. Rates haven't been this low since January 2018.

If these positive trends continue we are likely to see a continued increase in the average sale prices of properties in Bethel as we approach the summer buying season.

For more information about real estate activity in the area reach out to DiLillo Real Estate, 162 Greenwood Ave. Bethel CT 06801.
203-790-SOLD (7653), dilillorealestate.com


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Business Directory

Accountants & Bookkeepers
Bethel Tax Services, LLC -
Matthew T Close, EA
(203) 470-7866
www.betheltax.com
Bliss, Allred & Co. LLC
(203) 744-1041
www.blissallred.com
CironeFriedberg
(203) 798-2721
www.cironefriedberg.com
Melillo & Mitchell, LLC
(203) 744-3450
www.melillo-mitchell.com
Appliance Repair & Sales
Buzaid Mutual Appliance and Scratch-N-Dent Outlet
203-743-6321
203-775-7066
https://www.buzaidappliance.com
Attorney & Legal
Chipman, Mazzucco, Land & Pennarola LLC
203-744-1929 ext25
www.danburylaw.com
Gager, Emerson, Rickart, Bower & Scalzo,LLP
(203) 207-5400
www.gagerlaw.net
Automotive & Motorcyle Repair
Belardinelli Tire Company
(203) 748-0889
www.belardinellitire.com
Colonial Ford
(203) 748-3503
www.colonial-ford.com
Colonial Mazda
(203) 748-8700
www.colonialmazda.com/
Colonial Subaru
(203) 744-8383
Carpenters
KL&R Construction, LLC
(203) 938-4357
www.klrconstruction.com
Marr Carpentry
(203) 948-5726
Peter Schneider Builder Contractor
(203) 743-5548
www.peterSchneiderBuilder.com
Catering
Biksbees
203-730-9298
www.biksbees.com
Daily Fare, LLC
(203) 743-7300
www.dailyfare.net
Rocco's Cafe & Deli
(203) 297-6262
www.roccosct.com
Child Care
KinderCare Learning Center
(203) 792-6991
www.kindercare.com
Precious Moments Day Care
(203) 743-6368
preciousmomentsdaycare.info
Regional Y of Western CT
(203) 744-4890
www.regionalymca.org
Sandbox Daycare Center of Bethel
2037486708
Computer Service & Technology
Bethel IT Services, LLC
(203) 297-6290
www.bethelitservices.com
Microsoft
203-885-4593
www.microsoft.com
PC Advisors LLC
(203) 798-9647
www.pc-advisors.com
Tech Savvy
(203) 830-9673
techsavvydawn.com
Contractors
Codfish Hill Construction
203-994-1727
Greenway Industries, Inc
(203) 885-1037
greenwayindustries.net/
KL&R Construction, LLC
(203) 938-4357
www.klrconstruction.com
New England Propane
203-792-7654
www.newenglandpropane.com
Peter Schneider Builder Contractor
(203) 743-5548
www.peterSchneiderBuilder.com
Redwood Construction & Consulting, LLC
203-470-2375
Roots Landscaping LLC
203.702.4408
The Rizzo Companies, Inc.
(203) 731-3131
www.rizzocompanies.com