January 2020 Market Statistics

A few weeks ago, we shared with you that the Spring Market started early this year. Now, we have the statistics to show the activity in the first month of 2020. 

Keep reading for the January market statistics for single-family and condominiums throughout Connecticut, and a breakdown for New London, Middlesex, and New Haven Counties. 

Connecticut Market Statistics

Single-Family Homes

2019 2020 +/-
Active Listings 13,111 11,856 -9.57%
Number of Sales 2,009 2,122 5.62%
Average Days to Sell 85 89 4.71%
Average Sale Price $329,907 $370,509 12.31%
Highest Sale 340 Willow Street, Fairfield: $16,350,000

Condominiums

2019 2020 +/-
Active Listings 2,846 2,609 -8.33%
Number of Sales 514 532 3.5%
Average Days to Sell 84 84 0%
Average Sale Price $221,357 $208,887 -5.63%
Highest Sale 340 Valley Road, Unit 10, Greenwich: $2,050,000

Looking at single-family homes, January 2020 ended with 11,856 active listings in Connecticut, which is 1,255 fewer than January 2019. Along with a decrease in inventory was a 5.62% increase in sales, which shows that buyers are actively looking. This activity led to a 12.31% increase in the average sale price, which is positive news for sellers. 

There were also fewer active listings for condominiums in 2020, and the average sale price decreased by 5.63%. This led to a 3.5% increase in the number of condo sales across Connecticut. 

 

New London County Market Statistics

Single-Family Homes

2019 2020 +/-
Active Listings 1,230 1,053 -14.39%
Number of Sales 181 163 -9.94%
Average Days to Sell 74 84 13.51%
Average Sale Price $236,947 $267,728 12.99%
Highest Sale 228 Joshuatown Road, Lyme: $1,675,000

Condominiums

2019 2020 +/-
Active Listings 168 174 3.57%
Number of Sales 28 24 -14.29%
Average Days to Sell 67 97 44.78%
Average Sale Price $158,718 $192,150 21.06%
Highest Sale 17 Water Street, Unit A9, Groton: $875,000

In New London County, there was also a decrease in inventory for single-family homes. In January 2020, there were 163 homes sold and 255 put under contract, and the average sale price increased by almost 13%.

The average sale price of condominiums in New London County saw a significant increase in 2020 by over 21%. However, there were four fewer sales than in January 2019, and the average days to sell increased by 30 days. 

 

Middlesex County Market Statistics

Single-Family Homes

2019 2020 +/-
Active Listings 797 792 -0.63%
Number of Sales 126 123 -2.38%
Average Days to Sell 90 90 0%
Average Sale Price $356,314 $298,801 -16.14%
Highest Sale 369 River Road, Deep River: $1,350,000

Condominiums

2019 2020 +/-
Active Listings 147 117 -20.41%
Number of Sales 20 29 45%
Average Days to Sell 99 56 -43.43%
Average Sale Price $146,140 $176,676 20.9%
Highest Sale 25 Sheffield Street, Unit 9, Old Saybrook: $600,000

Middlesex County saw a different trend than the majority of Connecticut. The active number of listings and the number of sales remained comparable year-to-year, but the average sale price of single-family homes decreased from $356,314 in 2019 to $298,801 in 2020. 

Condominiums in Middlesex County did have an increase in both the number of sales in 2020, as well as the average sale price. 

 

New Haven County Market Statistics

Single-Family Homes

2019 2020 +/-
Active Listings 2,432 2,130 -12.42%
Number of Sales 447 456 2.01%
Average Days to Sell 79 85 7.59%
Average Sale Price $247,385 $262,495 6.11%
Highest Sale 41 Ironwood Road, Guilford: $1,175,000

Condominiums

2019 2020 +/-
Active Listings 719 655 -8.90%
Number of Sales 137 152 10.95%
Average Days to Sell 78 97 24.36%
Average Sale Price $153,963 $165,834 7.71%
Highest Sale 15 Salt Meadow Lane, Unit 15, Branford: $650,000

Following the state trend, the amount of inventory for single-family homes decreased in 2020 by 12.42%. With 456 sales and 614 houses under deposit, there was a lot of activity in New Haven County in January. This resulted in the average sale price increasing by over 6%. 

Condominium sales in New Haven County also increased in January, with 152 sales and 189 pending. The average sale price for condos increased by 7.71%. 

Are you interested in more market specifics for your county or town? 

Contact Us!

**All statistics pulled from SmartMLS on 2/5/20, with no exclusions. 

 

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