We entered April not knowing what to expect in the housing market. Across the country, different markets are experiencing varying levels of activity.
Here, we review the April 2020 statistics for all of Connecticut, as well as New London, Middlesex, and New Haven Counties.
Connecticut April Market Statistics
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Single-Family Homes |
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| 2019 | 2020 | +/- | |
| Active Listings | 15,998 | 11,492 | -28.17% |
| Number of Sales | 2,709 | 2,561 | -5.46% |
| Average Days to Sell | 84 | 77 | -8.33% |
| Average Sale Price | $365,465 | $374,625 | 2.51% |
| Highest Sale | 19 Brookridge Drive, Greenwich: $6,497,200 | ||
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Condominiums |
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| 2019 | 2020 | +/- | |
| Active Listings | 3,293 | 2,574 | -21.83% |
| Number of Sales | 691 | 576 | -16.64% |
| Average Days to Sell | 78 | 73 | -6.41% |
| Average Sale Price | $202,029 | $217,695 | 7.75% |
| Highest Sale | 11 Kensett Lane, Darien: $1,329,000 | ||
Across Connecticut, the number of active listings dropped significantly – by over 28% for single-family homes. According to a NAR Flash Survey, 51% of sellers (nationwide) have decided to delay the process for a couple of months, which is evident in April’s listing numbers. The decrease in the number of sales, however, did not drop off as steeply. There was a 5.46% decrease in sales, with 2,561 homes sold in April 2020. This is 148 fewer than April 2019. The average days to sell also decreased, which means homes are being sold more quickly. The average sale price increased by over 2.5%.
Condominiums in Connecticut saw similar activity, with a decrease in listings (-21.83%) and sales (-16.64%). The average days to sell decreased by 5 days, and the average sale price of condos increased by 7.75%, compared to April 2019.
Comparing New London, Middlesex, and New Haven Counties
Now, let’s take a look at the New London, Middlesex, and New Haven Counties. The following graphs compare data for the three counties for single-family sales from January 2019 through April 2020.
Average Sales Price
Closed Sales
New London County April Market Statistics
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Single-Family Homes |
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| 2019 | 2020 | +/- | |
| Active Listings | 1,424 | 1,008 | -29.41% |
| Number of Sales | 244 | 237 | -2.87% |
| Average Days to Sell | 79 | 74 | -6.33% |
| Average Sale Price | $255,875 | $273,854 | 7.03% |
| Highest Sale | 3 Catbriar Lane, Old Lyme: $1,200,000 | ||
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Condominiums |
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| 2019 | 2020 | +/- | |
| Active Listings | 173 | 157 | -9.25% |
| Number of Sales | 40 | 31 | -22.5% |
| Average Days to Sell | 98 | 54 | -44.9% |
| Average Sale Price | $166,234 | $200,405 | 20.56% |
| Highest Sale | 38 Hope, Unit 120, East Lyme: $525,000 | ||
In New London County, there was a decrease of over 29% in active listings for single-family homes in April 2020. Compared to April 2019, there were 7 fewer sales across the county. On average, the sale price increased by over 7%.
Condos in New London County also saw a decrease in the number of active listings (-9.25%) and the number of sales (-22.5%). Units are selling more quickly, with average days to sell dropping to 54 days in April 2020, compared to 98 days last April. The average sale price also increased by over 20%.
Middlesex County April Market Statistics
|
Single-Family Homes |
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| 2019 | 2020 | +/- | |
| Active Listings | 1,004 | 731 | -27.19% |
| Number of Sales | 145 | 135 | -6.9% |
| Average Days to Sell | 107 | 97 | -9.35% |
| Average Sale Price | $374,426 | $316,586 | -15.45% |
| Highest Sale | 19 Shore Road, Clinton: $1,812,500 | ||
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Condominiums |
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| 2019 | 2020 | +/- | |
| Active Listings | 153 | 110 | -28.1% |
| Number of Sales | 29 | 25 | -13.79% |
| Average Days to Sell | 58 | 73 | 25.86% |
| Average Sale Price | $148,443 | $194,424 | 30.98% |
| Highest Sale | 2B West Street, East Hampton: $420,000 | ||
In Middlesex County, the number of single-family homes listed dropped by over 27%, and there were 10 fewer homes sold in April 2020. The average days to sell also dropped by 10 days. Of the data we compiled, single-family homes in Middlesex County is the only area where there was a decrease in the average sale price, which decreased by more than 15%.
Condos saw a decrease in listings by more than 28%, with 4 fewer units sold this year. The average days to sell increased by more than 25%, and the average sale price also increased by more than 30%.
New Haven County April Market Statistics
|
Single-Family Homes |
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| 2019 | 2020 | +/- | |
| Active Listings | 2,948 | 2,153 | -26.97% |
| Number of Sales | 602 | 501 | -16.78% |
| Average Days to Sell | 79 | 68 | -13.92% |
| Average Sale Price | $277,508 | $287,830 | 3.72% |
| Highest Sale | 9 Middle Beach Road, Madison: $1,400,000 | ||
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Condominiums |
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| 2019 | 2020 | +/- | |
| Active Listings | 847 | 640 | -24.44% |
| Number of Sales | 189 | 151 | -20.11% |
| Average Days to Sell | 91 | 73 | -19.78% |
| Average Sale Price | $170,437 | $175,583 | 3.02% |
| Highest Sale | 2 Seaside Ave, Unit 2, Milford: $975,000 | ||
In New Haven County, trends are similar to the rest of the state. There was a decrease in inventory by almost 27%, and a decrease of 16.78% in single-family homes sold. The average sale price increased by 3.72%
The number of condos listed for sale decreased by 24.44%, and the number of sales also decreased by more than 20% in April 2020. The average sale price increased by more than 3%.
To sum up, the Connecticut housing market in April saw fewer active listings and fewer sales. However, the properties that are selling spend fewer days on the market and are closing at a higher sale price, when compared to April 2019.
**All statistics pulled from SmartMLS on 5/6/20, with no exclusions.