This week, we’ve compiled a list of market stats for this April compared to 2021. Here’s a breakdown of all of the statistics for single-family homes and condominiums in Connecticut, as well as Middlesex, New London, and New Haven Counties.
Connecticut Market Statistics
|Number of Sales||3,226||2,565||-20%|
|Average Days to Sell||53||37||-30%|
|Median Sale Price||$339,950||$369,900||+9%|
|Number of Sales||971||805||-17%|
|Average Days to Sell||56||38||-32%|
|Median Sale Price||$205,000||$220,000||+7%|
April 2022 has remained consistent with the previous months in a significantly lower inventory quantity from the past year. The amount of single-family homes on the market has dropped significantly since April 2021. April’s active listings did not match or increase for Connecticut residents. The average number of days to sell went down by 30%, bringing the median sale price up by 9%.
As for condominiums, we have seen a drop in the number of active listings and sales. It has taken an average of 38 days for condos to sell, a notable decrease from the 2021 average of 56 days on the market. The median sale price has gone up by 7% to $220,000.
New Haven County Market Statistics
|Number of Sales||717||568||-20%|
|Average Days to Sell||49||34||-30%|
|Median Sale Price||$285,000||$326,500||+15%|
|Number of Sales||218||193||-11%|
|Average Days to Sell||51||36||-29%|
|Median Sale Price||$169,000||$192,000||+13%|
In April 2021, there were 1,334 active listings for single-family homes. This year, there was a decrease of 7.5% to 1,234 homes listed. Home sales went down 20%, and the average number of days on the market decreased from 49 to 34. The median sale price rose by 15% in 2022, from $285,000 to $326,500.
This month, condominium units also had a shortage with just 307 active listings. The number of sales decreased slightly and the average number of days to sell went down by 29%. As for the median sale price, there’s been an increase of 13% to $192,000.
Middlesex County Market Statistics
|Number of Sales||201||137||-32%|
|Average Days to Sell||50||34||-32%|
|Median Sale Price||$335,000||$378,500||+13%|
|Number of Sales||46||53||+15%|
|Average Days to Sell||59||20||-66%|
|Median Sale Price||$171,000||$167,000||-2.3%|
Middlesex County has had difficulty trying to surpass last year’s numbers. Single-family homes were short of 2021’s active listings by 35%. The number of sales has shown a decrease of 32%. The average number of days to sell has decreased from 50 to 34, while the median sale price has increased by 13%.
The number of condominiums listed has seen a notable increase of 27%. Sales for the month of April have jumped 15% from 2021’s numbers. The average days to sell dropped from 59 to just 12, and the median sale price has decreased 2.3% to $167,000.
New London County Market Statistics
|Number of Sales||286||203||-29%|
|Average Days to Sell||43||30||-30%|
|Median Sale Price||$307,500||$315,000||+2%7|
|Number of Sales||47||47||0%|
|Average Days to Sell||81||24||-70%|
|Median Sale Price||$195,000||$180,000||-8%|
New London county saw a 12% decrease in active listings in April 2022 compared to last year. For single-family homes, sales went down by 29%, and it took an average of 30 days to sell a home this year, a decrease of 30%.
The number of condo units actively listed has gone down this year by 12%. Sales have remained the same from 2021 to 2022 with a 0% increase. The number of days to sell has gone down by a whopping 70%, and the median sale price has decreased by 8%.
We hope this helps you understand the trends across the state as you navigate through your real estate needs. Feel free to contact us to connect with an agent who can help you with all your real estate questions and needs.
**All statistics pulled from SmartMLS on 5/9/22, with no exclusions.