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Apr 18, 2024 · Median Sales Price. Connecticut’s median selling price was $350,000 for the first six months of 2023 versus $335,000 for the same period in 2022, according to Berkshire Hathaway HomeServices ...
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What's the real estate market like in Connecticut?
What is the housing market like in Connecticut?
What's the Connecticut housing market like in 2024?
Why is the Connecticut real estate market slowing down?
- Connecticut Housing Market Trends in 2024
- Connecticut Housing Market Forecast 2024 and 2025
- Regional Housing Market Forecast For Connecticut
- Will The Housing Market Crash in Connecticut?
How is the Housing Market Doing Currently?
In January 2024, the Connecticut housing market showcased remarkable strength, with home prices experiencing a notable surge. According to the data from Redfin, compared to the previous year, home prices soared by 12.4%, reaching a median price of $378,200. This spike in prices reflects the enduring demand for housing in the region. However, amidst the surge in prices, there was a slight downturn in the number of homes sold. Year over year, the number of homes sold decreased by 6.2%, with 2,3...
How Competitive is the Connecticut Housing Market?
The Connecticut housing market paints a picture of fierce competition among buyers vying for their dream homes. With 50.5% of homes selling above the list price in January 2024, there is a clear indication of intense bidding wars and limited inventory. Moreover, the percentage of homes with price drops slightly increased from 14.0% in January 2023 to 15.9% in January 2024. While this uptick suggests a slightly more balanced market, it still signifies the seller's advantage prevailing in many...
Are There Enough Homes for Sale in Connecticut to Meet Buyer Demand?
Despite the robust demand for housing in Connecticut, the supply side of the equation presents a challenge. In January 2024, there were 7,249 homes for sale, marking a 15.9% decrease compared to the previous year. Similarly, the number of newly listed homes saw a decline of 11.7% year over year, further exacerbating the supply shortage. With an average months of supply standing at 2 months, down from the previous year, buyers face limited options and heightened competition for available prope...
Average Home Value:
According to Zillow, as of February 29, 2024, the average home value in Connecticut stands at $384,244, marking a substantial 11.1%increase compared to the previous year. This surge in home values reflects the ongoing demand for housing in the state, driven by factors such as population growth and economic prosperity.
Days to Pending:
One noteworthy metric is the time it takes for homes to go pending after being listed. In Connecticut, homes typically go pending in approximately 10 days, indicating a fast-paced market where properties are in high demand.
For Sale Inventory:
As of February 29, 2024, there were 4,801 homes listed for sale in Connecticut. This inventoryprovides prospective buyers with a range of options to choose from, contributing to the diversity of the housing market.
Hartford, CT:
1. Base Date (31-01-2024): As of the base date, Hartford's housing market showed promising growth with a forecasted increase of 0.8%by February 29, 2024. 2. 29-02-2024: The forecasted growth accelerated to 3.2%, indicating a significant uptick in housing demand and activity within the region. 3. 30-04-2024: By April 30, 2024, the housing market in Hartford is expected to experience a robust 7.1%increase, reflecting sustained momentum and market resilience. 4. 31-01-2025: Looking further ahead...
Bridgeport, CT:
1. Base Date (31-01-2024): Bridgeport's housing market started with a forecasted growth rate of 0.5%as of January 31, 2024. 2. 29-02-2024: By the end of February 2024, the growth rate is expected to rise to 2.4%, indicating increased demand and market activity in the region. 3. 30-04-2024: The forecasted growth continues to accelerate, reaching 5.7%by April 30, 2024, reflecting strong market dynamics and favorable conditions for buyers and sellers alike. 4. 31-01-2025: Looking ahead to Januar...
New Haven, CT:
1. Base Date (31-01-2024): As of January 31, 2024, New Haven's housing market began with a forecasted growth rate of 0.5%. 2. 29-02-2024: By February 29, 2024, the growth rate is expected to climb to 2.2%, signaling growing demand and activity within the region. 3. 30-04-2024: The forecast anticipates a further increase in growth, reaching 6.6%by April 30, 2024, indicating strong market performance and favorable conditions for buyers and sellers. 4. 31-01-2025: Looking ahead to January 31, 20...
Connecticut's housing market has been performing strongly in recent years, but with the current state of the economy and the ongoing pandemic, some are wondering if a crash is on the horizon. The market has shown resilience despite external challenges, and key indicators such as demand, inventory levels, and price trends suggest stability. However,...
The average home value in Connecticut is $399,242, up 11.6% over the past year. Learn more about the Connecticut housing market and real estate trends.
Apr 30, 2024 · Average Home Prices: The average median home price in Connecticut is $378,200, up by 12.4% YoY. In 2024, the median sale price will keep increasing marginally due to CT’s tight inventory. The sale-to-list price ratio is at 101.3%, with a decrease of 1.5 pt YoY compared to January 2023.
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- When will the housing market crash in Connecticut?Not for the next few years. Connecticut's housing market will not crash in 2024. Despite 2023's skyrocketing interest payments and soaring home pri...
- What are the real estate housing market 2024 predictions for New York?2024 will be a stellar market for Connecticuters. Here's our 2024 forecast for Connecticut housing market are: (1) Home sellers will return to the...
- Are home prices dropping in New York?Nah! The property prices in Connecticut were up by 5.8% YOY in September 2023. In the past five years, home prices have increased by 47.63%. That's...
- Is it a good time to buy a house in Connecticut?Yes! Currently, there are very few buyers in the market compared to the supply of homes in Connecticut. The soaring interest rates has kept buyers...
Berkshire Hathaway HomeServices New England Properties' Monthly and Quarterly Market Reports are available for all Connecticut, Rhode Island, Massachusetts, and Westchester County, New York towns. Subscribe to receive an email every month with up-to-the-minute data. CT Real Estate is dedicated to providing the highest level of quality real ...
According to our detailed survey of Connecticut real estate agents, listing agents (those representing the seller) charge an average commission in Connecticut of 2.97%, which is the 16th highest in the United States. Buyers' agents charge an average commission of 2.5%, which is the 11th lowest in the United States. Data Point.
