Drug giant Pfizer Inc. will be cutting 1,100 research and development jobs from its Groton location, which will further depress the southern and central Connecticut real estate markets. 

New London County will take the biggest hit, as well-paid chemists leave for jobs elsewhere. Homes in Middlesex and even Hartford County will feel the pinch too, since many two-career couples live at halfway points between each person's job.

The Pfizer job cuts will affect homes priced in the $350,000 to $650,000 range. Arch Chemicals is moving its Cheshire operation to Georgia, so combined with the Pfizer layoffs, this creates a glut of homes in this price range as professionals leave the state for jobs elsewhere. 

Those who must sell should be sure their home is in move-in condition before listing it for sale; price it aggressively because excess supply means sellers will have more competition for the smaller pool of buyers.