September 2020 Market Stats

Connecticut saw three record-breaking months in a row for pending sales in June, July, and August. In September, the number of pending sales leveled off, but market activity remains high. 

Keep reading as we break down single-family and condominium market statistics across Connecticut and in New Haven, Middlesex, and New London Counties.

Connecticut Market Stats: September 2020

Single-Family Homes

20192020+/-
Active Listings16,78911,817-29.61%
Number of Sales3,0114,48348.89%
Average Days to Sell7160-15.49%
Average Sale Price$362,579$498,90437.6%

Condominiums

20192020+/-
Active Listings3,3212,818-15.15%
Number of Sales7371,04742.06%
Average Days to Sell7463-14.86%
Average Sale Price$211,039$240,35213.89%

The number of active listings remains low across Connecticut, as it has since the start of 2020. There was a 29.6% decrease in the number of single-family homes listed for sale, compared to September 2019. The number of sales increased by 48.9%, with over 4,400 homes selling in September. The average days to sell dropped by over 15%, and the average sale price increased by more than 37%.

Like single-family homes, condominiums follow the trend we’ve seen for the past few months. There was a 15% decrease in the number of listings, but a 42% increase in the number of sales. The average days to sell also decreased, by 14.9%, while the average sale price increased by almost 14%. 

New Haven County Market Stats: September 2020

Single-Family Homes

20192020+/-
Active Listings3,0182,415-19.98%
Number of Sales64091142.34%
Average Days to Sell6552-20%
Average Sale Price$272,021$325,31719.59%

Condominiums

20192020+/-
Active Listings807628-22.18%
Number of Sales18727647.59%
Average Days to Sell7864-17.95%
Average Sale Price$172,592$199,49515.59%

In New Haven County, the number of single-family listings in September 2020 decreased by almost 20%. This did not stop buyers, however, as there was a 42.3% increase in single-family sales. Houses are selling more quickly than last year, with an average of 52 days on the market. The average sale price increased by 19.6%

As far as condos in New Haven County, there was a 22.2% decrease in the number of active listings, with the number of sales increasing by 47.6%. The average days to sell decreased to 64 days on the market, and the average sale price increase by 15.6% compared to September 2019. 

Middlesex County Market Stats: September 2020

Single-Family Homes

20192020+/-
Active Listings1,101816-25.89%
Number of Sales17526249.71%
Average Days to Sell6657-13.64%
Average Sale Price$300,991$378,23825.66%

Condominiums

20192020+/-
Active Listings133117-12.03%
Number of Sales343811.76%
Average Days to Sell8547-44.71%
Average Sale Price$175,704$206,54717.55%

In Middlesex County, the number of single-family homes listed for sale in September decreased by 25.9% compared to last year. The number of sales increase by 49.7% – the largest increase in the three counties we are focusing on. The average days to sell decreased to 57 days, while the average sale price increased by 25.7%

Condos in Middlesex County has a 12% decrease in the number of listings, and an 11.8% increase in the number of sales. The average days to sell saw a significant decrease compared to last year, down to 47 days in September 2020. The average sale price increased by 17.6%

New London County Market Stats: September 2020

Single-Family Homes

20192020+/-
Active Listings1,461863-40.93%
Number of Sales27935928.67%
Average Days to Sell7358-20.55%
Average Sale Price$275,814$377,85337%

Condominiums

20192020+/-
Active Listings187168-10.16%
Number of Sales475721.27%
Average Days to Sell517750.98%
Average Sale Price$187,287$192,8752.98%

In New London County, we saw the largest decrease in the number of single-family homes listed for sale in these three counties, with a drop in inventory of 40.9%. The number of sales still increased, however, by 28.7%. The average days to sell decreased to 58 days, and the average sale price increased by 37%.

The number of condo units listed for sale decreased by 10.2% in September 2020, with a 21.3% increase in the number of sales. The average days to sell increased to 77 days. The average sale price increased just slightly by 2.98%. 

**All statistics pulled from SmartMLS on 10/6/20, with no exclusions. 

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