October 2019 Market Stats

In the last quarter of 2019, single-family homes are continuing to sell at a higher average sales price than in 2018 for three shoreline counties: Middlesex, New London, and New Haven. We often hear of people taking homes off the market during the holiday season. These stats show that buyers continue to actively search for properties. 

Take a look at the October market statistics for single-family homes in Middlesex, New London, and New Haven Counties. 

Middlesex County

October 2018 October 2019
Active Listings 1,022 1,113
Average Days to Sell 80 68
Average Sale Price $346,341 $353,416
Number of Sales 180 166
Volume of Sales $62,341,455 $58,667,071

In Middlesex County,  the average sales price of single-family homes in October increased by over $7,000 from 2018 to 2019. This bumped up the average sales price to over $350,000. Homes also sold more quickly this year, with an average of 68 days to sell in 2019. There were 166 single-family homes sold in October 2019, which is 14 fewer than in 2018.

New London County

October 2018 October 2019
Active Listings 1,542 1,475
Average Days to Sell 71 76
Average Sale Price $265,453 $275,016
Number of Sales 269 301
Volume of Sales $71,406,854 $82,779,684

Both the average sales price and the number of sales increased in New London County. The average sales price increased by nearly $10,000 to $275,016 in 2019. In addition, there were 32 more homes sold throughout the county this October, which averages to one additional sale every day of the month. Both increases led to over $11,000,000 in sales volume in October 2019. 

New Haven County

Of the three counties, New Haven had the most activity, with 599 closed transactions and $166,021,261 in sales volume in October 2019. The average sales price had a significant increase, from $262,374 in October 2018 to $277,164 in October 2019. The average days to sell remained the same – 74 – but there were 90 fewer homes sold than the previous year. 

October 2018 October 2019
Active Listings 3,175 3,056
Average Days to Sell 74 74
Average Sale Price $262,374 $277,164
Number of Sales 689 599
Volume of Sales $180,776,001 $166,021,261

Mortgage Rates

Mortgage rates have stayed low all year, with record lows throughout the summer. Rates are now beginning to increase slightly. FHA loans are seeing interest rates in the mid to high 3’s, while Conventional rates are high 3’s to low 4’s. These rates are still excellent, but they are beginning to increase. 

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