Bridgeport home prices took a nosedive in February: Redfin report

March 21, 2019 01:45PM

Home prices in the U.S. had their slowest annual growth in seven years last month — and Bridgeport was one of 10 metropolitan areas that actually saw a decline in average sales price, Mansion Global reported, citing a recent Redfin report. The seaport city “saw the worst decline, with prices falling 15.2 percent,” to $335,000, according to the outlet. Average home sale prices also fell 0.8 percent in Hartford, to $195,500, but rose 7.6 percent in nearby New Haven, to $199,000. In New York City, meanwhile, the average home sales price slipped 1.3 percent, to $380,o000, while Newark saw the greatest home value appreciation, to $330,000, a 12.2 percent spike in year-over-year growth. The news is good for buyers, who now have “some breathing room,” according to Mansion Global. “When home prices are going up quickly, buyers feel like they are forced to move fast and purchase a home before prices rise even more,” said a statement from Redfin’s chief economist Daryl Fairweather. [Mansion Global]