This week, we’ve compiled a list of February’s market stats, 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 | 5,779 | 4,489 | -22.3% |
| Number of Sales | 2,308 | 1,920 | -17% |
| Average Days to Sell | 63 | 51 | -19% |
| Median Sale Price | $317,750 | $330,000 | +4% |
Condominiums
| 2021 | 2022 | +/- | |
| Active Listings | 1,693 | 1,132 | -33% |
| Number of Sales | 632 | 611 | -3.3% |
| Average Days to Sell | 67 | 47 | -30% |
| Median Sale Price | $176,750 | $205,000 | +16% |
February 2022 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 February 2021. As we look at the number of active listings, February did not match or increase for Connecticut residents. However, the average number of days to sell went down by 19%, bringing the median sale price up by 4%.
As for condominiums, we have seen a drop in the number of active listings and sales. It has taken an average of 47 days for condos to sell, a notable decrease from the 2021 average of 67 days on the market. The median sale price has gone up by 16%.
New Haven County Market Statistics
Single-Family Homes
| 2021 | 2022 | +/- | |
| Active Listings | 1,093 | 922 | -15.7% |
| Number of Sales | 516 | 437 | -15.3% |
| Average Days to Sell | 60 | 55 | -8.3% |
| Median Sale Price | $270,000 | $300,000 | +11.1% |
Condominiums
| 2021 | 2022 | +/- | |
| Active Listings | 331 | 273 | -18% |
| Number of Sales | 156 | 158 | +1.3% |
| Average Days to Sell | 55 | 42 | -24% |
| Median Sale Price | $150,000 | $175,000 | +17% |
In February 2021, there were 1,093 active listings for single-family homes. This year, there was a decrease of 15.7%. Home sales went down 15.3%. The average number of days to sell single-family homes has also decreased by 8.3%. When comparing the median sale price between 2021 and 2022, there was a positive change of 11% to $300,000.
Condominium units also had a shortage this month, with just 273 active listings. The number of sales increased slightly and the average number of days to sell has gone down by 24%. As for the median sale price, there’s been an increase of 17% to $175,000.
Middlesex County Market Statistics
Single-Family Homes
| 2021 | 2022 | +/- | |
| Active Listings | 425 | 258 | -40% |
| Number of Sales | 133 | 99 | -25% |
| Average Days to Sell | 69 | 52 | -25% |
| Median Sale Price | $340,000 | $332,000 | -2.3% |
Condominiums
| 2021 | 2022 | +/- | |
| Active Listings | 50 | 53 | +6% |
| Number of Sales | 38 | 28 | -26.3% |
| Average Days to Sell | 73 | 31 | -57% |
| Median Sale Price | $152,450 | $192,000 | +27% |
Middlesex County has had a difficult time trying to surpass last year’s numbers. Single-family homes were short of 2021’s active listings by 40%. The number of sales has shown a decrease of 25%. The average number of days to sell has gone down by almost 30% while the median sale price has decreased by 2.3%.
The number of condominiums listed has seen a slight increase of 6%. Sales for the month of February this year have decreased by 26.3% compared to 2021, and the average days to sell have dramatically decreased from 73 to 31. The median sale price has increased 27% to $192,000.
New London County Market Statistics
Single-Family Homes
| 2021 | 2022 | +/- | |
| Active Listings | 418 | 389 | -7% |
| Number of Sales | 191 | 167 | -13% |
| Average Days to Sell | 63 | 50 | -20% |
| Median Sale Price | $270,000 | $295,000 | +9.3% |
Condominiums
| 2021 | 2022 | +/- | |
| Active Listings | 73 | 66 | -10% |
| Number of Sales | 27 | 33 | +22% |
| Average Days to Sell | 42 | 34 | -19% |
| Median Sale Price | $187,000 | $186,000 | -0.5% |
New London county saw a 7% decrease in active listings in February 2022 compared to last year. For single-family homes, sales went down by 13%, and it took an average of 50 days to sell a home this year, a decrease of 20%.
The number of condo units actively listed has gone down this year by 10%. Sales have increased by 22%. On average, the number of days to sell has gone down by 19%, and the median sale price has decreased by only 0.5%.
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 3/7/22, with no exclusions.