The Connecticut commercial real estate market has moved faster since 2020 than at any point in our firm's history. Interest rates, construction costs, insurance and the way people use office and retail space have all shifted. But in the markets where we work most, from eastern Connecticut to the Hartford and New Haven areas, one condition has held steady: there are more buyers than sellers.
That imbalance has kept the market tight. Well-located properties that do come to market tend to draw strong interest, and buyers are often competing for a small number of opportunities rather than choosing among many.
For owners, that is useful context when deciding whether to sell, refinance or hold. For estates and partnerships, it means older assessments, rules of thumb or values from a few years ago may not reflect what a property is worth today. A current appraisal based on recent local sales is the most reliable way to know.
These notes are general market observations, not an appraisal of any specific property.