Homes are selling fast in Newtown these days. Newtown Realty wants to make sure our clients know about the unusually great values available right now due to a favorable confluence of circumstances, and the spike in sales as a result.
Newtown’s location has always been appealing for employees of major businesses like GE, IBM, and Boehringer Ingelheim. But corporate changes in recent years caused a temporary reduction in jobs at these companies, leading to a large scale sell-off as employees transferred and moved out of the area. This, in turn, brought down pricing for the newly expanded inventory of high-value, desirable homes.
Happily, the state’s economy has recently bounced back. As this report from the CT Department of Labor states, nonfarm jobs grew by 1,100 in December while the unemployment rate fell to 4.0%. Smart home buyers and investors are taking advantage of the excellent real estate values, flocking to Newtown to scoop up properties while they’re available at bargain prices. Remarkably, many of these fine homes are priced far less than they cost to build. One great example? It’s the home featured in the image above. Priced at just $695,000, this 5-bedroom house is set in a quiet subdivision and boasts a long list of special features like a chef’s grade kitchen, sunroom, and fieldstone fireplace.
The volume of home sales in Newtown has spiked as a result of these factors, with 435 homes selling over the past 12 months. The value that Newtown offers is evidenced by the substantial investment in retail and restaurant space throughout Newtown and Sandy Hook. Infrastructure investments in the Hawleyville business district are also attracting development, including the rapidly growing “medical mile” along route 6.
What’s more, Newtown has never had so much to offer in terms of restaurants, retail stores, culture, and local attractions. In the past few years, the town has become a restaurant destination for its exciting selection and variety, listed in detail in our recent blog post. Two new breweries are set to open soon. Thanks to a recent grant, pedestrian sidewalks are being constructed around town that will eventually connect the entire borough of Newtown and extend down Rt. 25 to Fairfield Hills, making retail stores, dining establishments and recreational spots accessible on foot. A new community center is under construction at the Fairfield Hills Campus, built with a generous donation from General Electric, and an ice rink will soon be added to the Newtown Youth Academy sports center.
Newtown has always held a magical New England town appeal with its rolling landscapes enhanced by antique barns and stone walls, historical architecture, and the old fashion charm of its picturesque Main Street. The town’s bucolic flavor is no illusion either, for it’s currently listed as the second safest town in Connecticut. WIth all these advantages and a favorable market, home buyers are getting more for their money in Newtown today. Contact Newtown Realty and let us help you find your new home or investment property.
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