We’ve all been waiting for new inventory. And the first half of 2021 saw an increase in new listings for single-family homes and condominiums across Connecticut.
So why does it seem like there are even fewer homes for sale than last year?
Read on to learn more about the market stats from the first six months of 2021 for all of Connecticut, as well as New Haven, Middlesex, and New Haven counties.
Connecticut Market Statistics
Single-Family Homes
| 2020 | 2021 | +/- | |
| New Listings | 25,005 | 25,984 | 3.92% |
| Number of Sales | 15,524 | 19,189 | 23.61% |
| Average Days to Sell | 80 | 49 | -38.75% |
| Median Sale Price | $275,000 | $339,900 | 23.6% |
Condominiums
| 2020 | 2021 | +/- | |
| New Listings | 5,698 | 6,820 | 19.69% |
| Number of Sales | 3,578 | 5,291 | 47.88% |
| Average Days to Sell | 77 | 52 | -32.47% |
| Median Sale Price | $172,000 | $200,000 | 16.28% |
We are finally starting to see more inventory come to Connecticut markets, with a 3.92% increase in single-family new listings in the first half of 2021, compared to the first half of 2020. However, the number of sales increased significantly more – by 23.61% this year. With more sales happening, this explains why inventory remains hard to come by. It also added to the decrease in the average days to sell, at just 49 days for single-family homes in 2021, and the median sale price, which increased by 23.6% to $339,900.
The trends for condominiums across the state are similar. There was a 19.69% in new units listed for sale in the first half of 2021, and a 47.88% increase in the number of sales. The average days to sell dropped to 52 days. The media sale price increased by 16.28%, up to $200,000.
New Haven County Market Statistics
Single-Family Homes
| 2020 | 2021 | +/- | |
| New Listings | 4,904 | 5,416 | 10.44% |
| Number of Sales | 3,207 | 4,186 | 30.53% |
| Average Days to Sell | 71 | 45 | -36.62 |
| Median Sale Price | $245,000 | $291,500 | 18.98% |
Condominiums
| 2020 | 2021 | +/- | |
| New Listings | 1,397 | 1,663 | 19.04% |
| Number of Sales | 953 | 1,234 | 29.49% |
| Average Days to Sell | 77 | 45 | -41.56% |
| Median Sale Price | $149,900 | $174,000 | 16.08% |
In New Haven County, the number of single-family new listings increased by 10.44% in the first half of 2021, compared to the same period last year. The number of sales increased almost three times that amount – by 30.53%, and the average days to sell decreased to just 45 days. The median sale price jumped to $291,500, an 18.98% increase compared to last year.
There was a 19.04% increase in new condo units listed for sale in the first half of 2021, with a 29.49% increase in the number of units sold. The ncrease in sales led to a decreased in the average number of days it took to sell (45 days), and a 16.08% increase in the median sale price ($174,000).
Middlesex County Market Statistics
Single-Family Homes
| 2020 | 2021 | +/- | |
| New Listings | 1,362 | 1,480 | 8.66% |
| Number of Sales | 898 | 1,145 | 27.51% |
| Average Days to Sell | 92 | 51 | -44.57% |
| Median Sale Price | $280,000 | $337,500 | 20.54% |
Condominiums
| 2020 | 2021 | +/- | |
| New Listings | 223 | 300 | 34.53% |
| Number of Sales | 145 | 234 | 61.38% |
| Average Days to Sell | 100 | 42 | -58% |
| Median Sale Price | $145,000 | $162,500 | 12.07% |
The number of new single-family homes listed for sale in Middlesex County increased by 8.66% in the first half of 2021, compared to the first half of 2020. The number of sales also increased, by 27.51%, while the average days to sell decreased to 51 days. The median sale price saw a 20.54% increase, up to $337,500.
Condo units in Middlesex County saw similar trends in the first half of 2021, with a 34.53% increase in the number of new listings, and a 61.38% increase in the number of sales. The average days to sell dropped to 42 days, and the median sale price increased by 12.07% to $162,500.
New London County Market Statistics
Single-Family Homes
| 2020 | 2021 | +/- | |
| New Listings | 2,069 | 2,227 | 7.64% |
| Number of Sales | 1,396 | 1,645 | 17.84% |
| Average Days to Sell | 78 | 41 | -47.44% |
| Median Sale Price | $242,000 | $290,000 | 19.83% |
Condominiums
| 2020 | 2021 | +/- | |
| New Listings | 315 | 350 | 11.11% |
| Number of Sales | 207 | 290 | 40.1% |
| Average Days to Sell | 64 | 52 | -18.75% |
| Median Sale Price | $144,000 | $158,450 | 10.03% |
In New London County, the number of single-family homes newly listed to the market in the first half of 2021 increased by 7.64%, compared to the same period last year. The number of sales also increased, by 17.84%, while the average days to sell decreased to 41 days. The median sale price jumped to $290,000, a 19.83% increase.
There was an 11.11% increase in the number of condos listed for sale, and a 40.1% increase in the number of units sold in first six months of 2021. On average, it took just 52 days for condos in New London County to sell, and the median sale price increased by 10.03% to $158,450 compared to last year.
**All statistics pulled from SmartMLS on 7/6/21, with no exclusions.
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