Saturday, February 8, 2014

New Canaan Property Values on the Decline?

Nelson Oliveira of The New Canaan News did a story this week on the current revaluation taking place. While he got most of it right and property values are down an average of 2.8%, it is impossible to paint the whole market with one brush. 

http://m.newcanaannewsonline.com/default/article/New-Canaan-property-values-on-the-decline-5214576.php

Of note, they quoted me saying: 

The value of properties costing between $1 million and $4 million in New Canaan was mostly flat in 2013. As Realtor John Engel, who also serves on the Town Council, put it, "both ends of the seesaw are changing a lot, but the middle is flat."

This does not begin to capture the angst being expressed by those in the community whose property taxes have gone up more than 15% overnight. By my count 2575 homes have gone up an average of 12.4% and those people, typically on the left side of our seesaw, want to know why. 
Post a Comment