It’s time to read up on your monthly stats, Connecticut!
For August 2021, we’ve compiled a list comparing this year and last year’s August Market Stats. We’ve included numbers for all of Connecticut, and at your convenience, separate charts representing New Haven, Middlesex, and New London counties.
Connecticut Market Statistics
|Number of Sales||4,784||4,104||-14.21%|
|Average Days to Sell||63||34||-46.03%|
|Median Sale Price||$327,500||$360,000||9.92%|
|Number of Sales||1,032||1,119||8.43%|
|Average Days to Sell||67||35||-47.76%|
|Median Sale Price||$190,450||$208,000||9.22%|
As we get look into the month of August, you will notice over 10,000 single-family houses that catered to our real estate supply and demand needs. This year, we see a slight change, roughly a thousand less than that, and the average days on the market had gone down significantly with it. For average days to sell these houses, we see a decrease, roughly 46%, between August 2020 and 2021. However, positive changes have been made in the median sale prices. From August 2020 to August 2021, sale prices have gone up just shy of 10%.
As for condominiums, slow and steady wins the race. While we witness a decrease of active listings, around 13%, the number of sales has made slow changes as well. When comparing last year and this year’s number of sales, there has been a positive impact of 8%. Selling a lot quicker around this time of year, August 2021, has made an average of 35 days to sell listings. As for the median sale prices, there too has been a rise. Between August 2020 and 2021, the difference has gone up 9%.
New Haven County Market Statistics
|Number of Sales||940||848||-9.79%|
|Average Days to Sell||52||34||-34.62%|
|Median Sale Price||$277,250||$315,000||13.62%|
|Number of Sales||241||295||22.41%|
|Average Days to Sell||75||34||-54.67%|
|Median Sale Price||$160,000||$190,000||18.75%|
As we narrow down the list of counties, the first presented to you is New Haven. Single-family homes in this county have seen more active listings for August last year than this year. Along with a decrease in active listings, down by 4%, there’s been a steady decline in sales by 9%. With the help of the number of sales and the average days to sell single-family homes, a more positive impact has brought the median sale prices up. Up 13% of August 2021, New Haven county is noted for reaching $315,000 in sales.
As for condominiums, we see the same pattern for active listings. It has dropped by 8% this year for August. However, the number of sales has gone up by 22%. Last year we saw 241 for the number of sales, now we have 295 — a slight increase, but a move upward nonetheless. Still, smaller average days to sell condominiums seems to be the norm for New Haven country. As for median sale prices, there’s nothing else but upward. This year we have reached an increase of 18% in the median sale prices.
Middlesex County Market Statistics
|Number of Sales||260||227||-12.69%|
|Average Days to Sell||55||39||-29.09%|
|Median Sale Price||$310,000||$340,000||9.68%|
|Number of Sales||57||61||7.02%|
|Average Days to Sell||50||23||-54%|
|Median Sale Price||$167,900||$171,000||1.85%|
Excluding the median sale prices, Middlesex county has seen nothing but decreases all across the board. Single-family homes are at a low this year by 15%. The number of sales and the average of days to sell has decreased when comparing last year’s and this year’s numbers as well. However, regardless of declines in other fields, the median sale price for single-family homes continues to move up the ladder by 9%.
The same pattern follows for condominiums. With fewer active listings this year, the number of sales has gone up 7% and the average days to sell has dropped by 54%. When comparing the median sale prices between last year and this year for August, the difference continues to go up at a plodding, steady pace by 1%.
New London County Market Statistics
|Number of Sales||392||354||-9.69%|
|Average Days to Sell||64||27||-57.81%|
|Median Sale Price||$271,950||$310,000||13.99%|
|Number of Sales||58||66||13.79%|
|Average Days to Sell||64||28||-56.25%|
|Median Sale Price||$140,500||$177,388||26.25%|
Finally, let’s review New London county. Listings for single-family homes have gone down by 4%, just as the number of sales has gone down to 354 for August 2021, resulting in a 9% decrease. As for the median sale price, we are pleased to see an increase when comparing the numbers. Up by 13%, single-family homes have made $177,388 for median sale prices.
As for the condominiums, there has been a slow decline in active listings. Down by 16%, New London has made only 109 active listings this year. However, the number of sales has gone up by 13%, and the average number of days to sell has been 28. As always, we continue to see a positive increase in median sale prices, 26%.
While we hope this chart has made things easier for you to follow, reach out if you have any questions regarding selling, buying, or investing. We care about your real estate needs and are more than capable of helping you.
**All statistics pulled from SmartMLS on 9/7/21, with no exclusions.