Real Estate

Location, location, location.  When talking about real estate, we all know just how important it is.  In the recent past, location has become even more important as we hear and read about how horrible the real estate market is.   And yes, there are many places throughout the country with a struggling real estate market, but Middlesex County is not one of those places.  Contrary to what one might think, the current state of the real estate market in Middlesex County is positive. The commercial real estate market in upper Middlesex County continues to set the pace in central Connecticut.  The availability of commercial space has lowered, as existing buildings are full and new buildings are being built.  With the loss of Mortgage Lenders Network, over 60,000 square feet of Class A office space became available.  Most of this space has been filled by the expansion of existing and new tenants, which doesn’t come as a surprise since it had been over four years since there was any Class A office space available in the downtown.  This is great news for Middletown. Real estate is local.  Recently there have been some concerns in our local housing real estate market over buyer reluctance, mostly because of the negative national press.  Consumers need to get a comprehensive report of their own town’s real estate market conditions and compare town data to that of the county and the state.  By accessing this information, both buyers and sellers will begin to understand that our market is still strong.  Prices are just slightly off from last year and some areas are holding.  The number of properties closing is slightly down, and contrary to what we’ve all been hearing and reading in the news media, our local markets are holding up.  The mortgage rates are great and there is inventory, and it’s a great time to buy in Middlesex County. The revitalization of downtown Middletown is attracting people and businesses from all over New England.  In fact, Middletown is one of the only cities in Connecticut with new commercial construction in its downtown.  We will soon welcome two new buildings, Liberty Square and Landmark Square, and a possible third to our downtown, both of which will bring new office and retail to Main Street. Although the economy isn’t at its best, there are some exciting real estate projects happening in Middlesex County that showcase just how positive the market is at this time.  The multi-use development in Portland is moving forward, there is a lot of activity happening up and down Route 66, as well as on Route 372 and Sebethe Drive in Cromwell.  Two hotels are interested in building in upper Middlesex County and there is a possible major project in the works in Middlefield as well. The reason for this is because of our strong business community led by the Chamber and local elected leaders that get it!  Businesses bring taxes, jobs and a better quality of life.  All of these developments will bring more jobs and a broader tax base to our towns, which is a real positive.  We should embrace this as we realize that our real estate market is not suffering like some other parts of the state and country.  We have businesses wanting to move into our region, and the fact that Middlesex County remains attractive through all of the recent negativity that surrounds the real estate market should be celebrated. Location will always be key, and I am proud of the fact that our location is one that shines in a time of so much negativity surrounding the real estate market.   For more information on the Real Estate Council, please contact Johanna Bond at the Chamber at (860) 347-6924 or by email at

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