February 2020 was the last full month before the health pandemic changed the world, including real estate. In February 2021, we saw mortgage rates begin to rise while inventory remains low.
Keep reading as we break down February 2021 market statistics across Connecticut, and in New Haven, Middlesex, and New London Counties, and how they compare to market stats from one year ago.
Connecticut Market Statistics
Single-Family Homes
| 2020 | 2021 | +/- | |
| Active Listings | 11,862 | 6,338 | -46.57% |
| Number of Sales | 1,936 | 2,294 | 18.49% |
| Average Days to Sell | 93 | 62 | -33.33% |
| Median Sale Price | $249,959 | $318,000 | 27.22% |
Condominiums
| 2020 | 2021 | +/- | |
| Active Listings | 2,645 | 1,878 | -29% |
| Number of Sales | 531 | 624 | 17.51% |
| Average Days to Sell | 82 | 66 | -19.51% |
| Median Sale Price | $160,000 | $176,250 | 10.16% |
Across Connecticut, the number of single-family homes listed for sale dropped drastically, by 46.57%. This did not keep buyers from making a purchase, however, as there was an 18.49% increase in the number of closed sales in February 2021. The average days to sell decreased to 62 days, and the median sale price increased by 27.22%, up to $318,000.
Condominium sales saw similar trends, with a 29% decrease in units listed for sale in Connecticut. The number of sales increased by 17.51%, while the days on market decreased to 66 days. The median sale price increased by 10.16% in February 2021, up to $176,250.
New Haven County Market Statistics
Single-Family Homes
| 2020 | 2021 | +/- | |
| Active Listings | 2,104 | 1,285 | -38.93% |
| Number of Sales | 424 | 514 | 21.23% |
| Average Days to Sell | 79 | 60 | -24.05% |
| Median Sale Price | $213,000 | $270,000 | 26.76% |
Condominiums
| 2020 | 2021 | +/- | |
| Active Listings | 624 | 393 | -37.02% |
| Number of Sales | 148 | 156 | 5.41% |
| Average Days to Sell | 69 | 55 | -20.29% |
| Median Sale Price | $136,750 | $150,000 | 9.69% |
In New Haven County, the number of single-family homes for sale decreased by 38.93%, while the number of sales jumped up by 21.23%. The average days to sell dropped to 60 days in February 2021, and the median sale price increased by 26.76% to $270,000.
Condominiums listed for sale in New Haven County decreased by 37.02%. The number of units sold increased slightly, by 5.41%, and the average days to sell decreased to 55 days. The median sale price for condominiums was $150,000, an increase of 9.69%.
Middlesex County Market Statistics
Single-Family Homes
| 2020 | 2021 | +/- | |
| Active Listings | 734 | 466 | -36.51% |
| Number of Sales | 107 | 133 | 24.3% |
| Average Days to Sell | 112 | 68 | -39.29% |
| Median Sale Price | $280,000 | $340,000 | 21.43% |
Condominiums
| 2020 | 2021 | +/- | |
| Active Listings | 100 | 66 | -34% |
| Number of Sales | 16 | 37 | 131.25% |
| Average Days to Sell | 114 | 70 | -38.6% |
| Median Sale Price | $134,250 | $150,000 | 11.73% |
The number of single-family homes listed for sale in Middlesex County also decreased in February 2021, by 36.51%. The number of sales increased by 24.3%, while the days on marked dropped to 68 days. The median sale price increased to $340,000, a 21.43% increase compared to February 2020.
Middlesex County condo units had a 34% decrease in units listed for sale in February 2021. The number of sales increased by more than double, and the average days to sell decreased to 70 days. The median sale price of Middlesex County condo units increased by 11.73%, up to $150,000.
New London County Market Statistics
Single-Family Homes
| 2020 | 2021 | +/- | |
| Active Listings | 1,040 | 481 | -53.75% |
| Number of Sales | 171 | 190 | 11.11% |
| Average Days to Sell | 94 | 63 | -32.98% |
| Median Sale Price | $235,000 | $270,000 | 14.89% |
Condominiums
| 2020 | 2021 | +/- | |
| Active Listings | 164 | 83 | -49.39% |
| Number of Sales | 30 | 26 | -13.33% |
| Average Days to Sell | 75 | 41 | -45.33% |
| Median Sale Price | $139,550 | $188,450 | 35.04% |
In New London County, single-family homes listed for sale decreased by 53.75% in February 2021 compared to the previous year. The number of sales increased by 11.11%, and the days on market decreased to 63 days. The median sale price increased by 14.89% to $270,000 this February.
Condo units listed for sale decreased by 49.39%. The number of units sold also decreased – a break from the trend – with 4 fewer units sold in February 2021 compared to the previous year. The days to sell, however, decreased to just 41 days, and the median sale price increased by 35.04% to $188,450.
With low inventory and a competitive buyers market, now is an excellent time to sell. If you are interested in learning more, contact us!
**All statistics pulled from SmartMLS on 3/8/21, with no exclusions.