Housing inventory in Mansfield is low. Is it the gloomy skies? The constant rain during one of the wettest Aprils on record? Is it trepidation about crumbling basements? Is it the volatility of interest rates? If you read what is reported about Connecticut’s declining census, you have to wonder why inventory isn’t booming. Are these folks that are fleeing the state for better weather and more favorable taxes renting their homes out?
What is known today is that among the burgeoning signs of Spring housing inventory is very low.
Here is the inventory as of today for single family residential homes and condos:
There has been talk of UConn faculty and town hires being lured to West Hartford and Glastonbury and it makes sense if you look at the current inventory of housing. Glastonbury has 153 homes active for sale today and West Hartford has a healthy 268.
Lack of inventory can persuade a new arrival to rent for a year as well, hoping that more inventory is on the horizon. In that time a family becomes integrated into the community, the schools and make friendships and connections that they may be reluctant to leave after a year, especially if they have children.
This is one way we lose new families as residents once they accept jobs here but don't end up living here after renting in another town for a year or more. In Mansfield there are currently just 7 single family homes or condos for rent. The rest of the rentals available are mainly apartments and what is considered to be student housing.
Here’s wishing for bright sunshine, warmer temperatures and some choice real estate offerings that beckon spring & summer buyers and sellers.
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