This week, we’ve compiled a list of market stats for this August 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
Single-Family Homes
| 2021 | 2022 | +/- | |
| Active Listings | 8,196 | 6,926 | -15% |
| Number of Sales | 4,188 | 3,569 | -14.7% |
| Average Days to Sell | 34 | 29 | -14% |
| Median Sale Price | $360,000 | $399,000 | +11% |
Condominiums
| 2021 | 2022 | +/- | |
| Active Listings | 2,018 | 1,416 | -29% |
| Number of Sales | 1,153 | 919 | -20% |
| Average Days to Sell | 35 | 28 | -20% |
| Median Sale Price | $210,000 | $240,000 | +14% |
August 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 August 2021. August’s active listings did not match or increase for Connecticut residents. The average number of days to sell went down by 14%, bringing the median sale price up by 11%.
As for condominiums, we have seen a drop in the number of active listings and sales. It has taken an average of 28 days for condos to sell, a slight decrease from the 2021 average of 35 days on the market. The median sale price has gone up by 14% to $240,000.
New Haven County Market Statistics
Single-Family Homes
| 2021 | 2022 | +/- | |
| Active Listings | 1,722 | 1,549 | -10% |
| Number of Sales | 871 | 787 | -9.6% |
| Average Days to Sell | 34 | 29 | -14.7% |
| Median Sale Price | $315,000 | $350,000 | +11% |
Condominiums
| 2021 | 2022 | +/- | |
| Active Listings | 456 | 320 | -29% |
| Number of Sales | 300 | 237 | -21% |
| Average Days to Sell | 34 | 29 | -14% |
| Median Sale Price | $189,950 | $211,000 | +11.6% |
In August 2021, there were 1,722 active listings for single-family homes. This year, there has been a decrease of 10% to 1,549 homes listed. Home sales were down almost 10%, and the average number of days on the market decreased from 34 to 29. The median sale price rose by 11% in 2022, from $315,000 to $350,000.
This month, condominium units also had a shortage, with just 320 active listings. The number of sales decreased by 20%, and the average number of days to sell went down by 14%. As for the median sale price, there’s been an increase of 11.6% to $211,000.
Middlesex County Market Statistics
Single-Family Homes
| 2021 | 2022 | +/- | |
| Active Listings | 498 | 386 | -22% |
| Number of Sales | 230 | 208 | -9.5% |
| Average Days to Sell | 39 | 24 | -38% |
| Median Sale Price | $340,000 | $375,000 | +10% |
Condominiums
| 2021 | 2022 | +/- | |
| Active Listings | 63 | 48 | -24% |
| Number of Sales | 63 | 40 | -36% |
| Average Days to Sell | 22 | 22 | 0% |
| Median Sale Price | $170,000 | $194,950 | +18% |
Middlesex County has had difficulty trying to surpass last year’s numbers. Single-family homes were short of 2021’s active listings by 22%. The number of sales has shown a decrease of 9.5%. The average number of days to sell has decreased from 39 to 24, while the median sale price has increased by 10%.
The number of condominiums listed has seen a notable decrease of 24%. Sales for the month of August have fallen 36% from 2021’s numbers. The average days on market saw no change, and the median sale price increased 18% to $194,950.
New London County Market Statistics
Single-Family Homes
| 2021 | 2022 | +/- | |
| Active Listings | 684 | 611 | -10% |
| Number of Sales | 362 | 316 | -12% |
| Average Days to Sell | 27 | 31 | +14% |
| Median Sale Price | $310,000 | $339,000 | +9% |
Condominiums
| 2021 | 2022 | +/- | |
| Active Listings | 99 | 74 | -25% |
| Number of Sales | 69 | 63 | -8% |
| Average Days to Sell | 27 | 21 | -22% |
| Median Sale Price | $178,000 | $190,000 | +6% |
New London county saw a slight decrease in active listings in August 2022 compared to last year. For single-family homes, sales went down by 12%, and it took an average of 31 days to sell a home this year, an increase of 13%. The median sale price increased by 9% to $339,000.
The number of condo units actively listed has gone down this year by 25%. Sales have decreased from 2021 to 2022 by just 8%. The number of days to sell has gone down by 22%, and the median sale price has increased 6% to just under $200K.
We hope this helps you understand the trends across the state as you navigate through today’s market. 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 9/2/22, with no exclusions.