Why are houses so expensive in Connecticut opposed to the rest of the states?
I found a few houses/mini mansions in CT that I liked and it was 0,000+ for most of them but in some other states I found the same size houses if not bigger with more land for only 0,000
What gives? I dont understand the difference?
3 Responses
someone
24 Jul 2011
malica
24 Jul 2011
Supply and demand.
Since more people want to live in CT than say Arkansas, those selling their houses can ask for a higher price because someone out there is willing to pay that much.
Same sort of principle applies to anything that can be bought and sold – diamonds are more wanted than say rubies, which is part of the reason why diamonds sell for so much more than rubies do.
Happnie Homes
24 Jul 2011
CT as well as other coastal states are more desirable location and can therefor demand higher prices. It’s all about supply and demand. The more people there are the higher the prices go and the more people are willing to pay.
LOCATION, location and location.
Take a look at some towns in New Jersey within 20 minutes of Manhattan and a small house costs 600k