Interest rates have generally been higher over the last few years than they were before 2020. In a typical market, higher borrowing costs would cool demand and give buyers more leverage.
That has not been the case in Connecticut. Investor demand has remained steady, and so has demand from owner-users, the businesses buying buildings to occupy themselves. With so little inventory available, the pressure from higher rates has been largely offset by the shortage of properties to buy.
The two forces have roughly balanced each other, and the market has stayed constrained. For anyone relying on a value, whether a lender, an executor or an investor, it is a reminder that rates alone do not determine prices. Local supply and demand still matter most, and that is what we measure in every appraisal.
These notes are general market observations, not an appraisal of any specific property.