As quarter 4 comes to a close, we’ve compiled a list of December’s Market Stats, comparing 2020 and 2021. Here’s a breakdown of all of the statistics for single-family and condominiums in Connecticut, as well as Middlesex, New London, and New Haven Counties.
Connecticut Market Statistics
|Number of Sales||4,246||3,482||-18%|
|Average Days to Sell||52||45||-13.5%|
|Median Sale Price||$318,000||$340,000||+7%|
|Number of Sales||1,004||957||-4.7%|
|Average Days to Sell||59||46||-22%|
|Median Sale Price||$195,565||$210,000||+7.4%|
December 2021 has remained consistent with the previous months in a significantly lower quantity of inventory from the past year. The amount of single-family homes on the market has dropped significantly since December 2020. As we look at the number of active listings, December did not match or increase for Connecticut residents. However, the average number of days to sell went down by 13.5%, bringing the median sale price up by 7%.
As for condominiums, we have seen a drop in the number of active listings and sales. It has taken an average of 46 days for condos to sell, a notable decrease from the 2020 average of 59 days on the market. The median sale price has gone up by 6.3%.
New Haven County Market Statistics
|Number of Sales||851||769||-9.6%|
|Average Days to Sell||49||43||-12.2%|
|Median Sale Price||$275,000||$300,000||+9%|
|Number of Sales||233||213||-8.6%|
|Average Days to Sell||58||40||-31%|
|Median Sale Price||$162,000||$180,000||+11%|
In December 2020, there were 1,427 active listings for single-family homes. This year, there was a decrease of 20.8%. Home sales went down 9.6%. The average number of days to sell single-family homes has also decreased by 12.2%. When comparing the median sale price between 2020 and 2021, there was a positive change of 9% to $300,000.
Condominium units also had a shortage this year, with just 283 active listings. The number of sales decreased slightly and the average number of days to sell has gone down by 31%. As for the median sale price, there’s been an increase of 11% to $180,000.
Middlesex County Market Statistics
|Number of Sales||230||197||-14.3%|
|Average Days to Sell||41||52||+26.8%|
|Median Sale Price||$327,450||$356,000||+8.7%|
|Number of Sales||51||47||-8%|
|Average Days to Sell||32||44||+37.5%|
|Median Sale Price||$179,000||$187,500||+4.7%|
Middlesex County has had a difficult time trying to surpass last year’s numbers. Single-family homes were short of 2020’s active listings by 41%. The number of sales has shown a decrease of 14.3%. The average number of days to sell has gone up by almost 30% while the median sale price has increased by 8.7%.
It’s typical this time of year to have a low inventory of condominiums. Down by 9.3%, active listings have not yet surpassed 100. Sales this year have decreased by 8%, and the average days to sell have increased from 34 to 44. The median sale price has increased 4.7% to $187,500.
New London County Market Statistics
|Number of Sales||359||318||-11.4%|
|Average Days to Sell||43||42||-2%|
|Median Sale Price||$271,000||$316,000||+32.8%|
|Number of Sales||60||50||-16%|
|Average Days to Sell||73||44||-39%|
|Median Sale Price||$156,000||$141,688||-9%|
New London county saw a 12.8% decrease in active listings in December 2021 compared to last year. For single-family homes, sales went down by 11.4%, and it took an average of 42 days to sell a home this year, a very slight decrease of 2%.
The number of condo units actively listed has gone down this year by 44%. Sales have also declined by 16%. On average, the number of days to sell has gone down by 39%, and the median sale price has decreased by 9%.
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 get connected with an agent who can help you with all your real estate questions and needs.
**All statistics pulled from SmartMLS on 1/5/21, with no exclusions.
Photo: Suyash Nigam / @photo_n_travels