Two months into Quarter 4! We’ve compiled a list of November’s Market Stats, comparing 2020 and 2021. Here’s a break down 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||3,932||3,219||-18.2%|
|Average Days to Sell||53||41||-22.6%|
|Median Sale Price||$317,000||$335,278||+5.8%|
|Number of Sales||952||914||-3.9%|
|Average Days to Sell||53||40||-24.5%|
|Median Sale Price||$190,000||$202,000||+6.3%|
November 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 November 2020. As we look at the number of active listings, November did not match or increase for Connecticut residents. However, the average number of days to sell went down by 22.6%, bringing the median sale price up by 5.8%.
As for condominiums, we have seen a drop in the number of active listings and sales. It has taken an average of 40 days for condos to sell, a notable decrease from the 2020 average of 53 days on the market. The median sale price has gone up by 6.3%.
New Haven County Market Statistics
|Number of Sales||878||701||-20.2%|
|Average Days to Sell||44||41||-6.8%|
|Median Sale Price||$267,250||$309,900||+16%|
|Number of Sales||223||228||+2.3%|
|Average Days to Sell||49||35||-28.6%|
|Median Sale Price||$169,000||$186,685||+10.5%|
In November 2020, there were 1,743 active listings for single-family homes. This year, there was a decrease of 15.4%. Home sales went down 20.2%. The average number of days to sell single-family homes has also decreased by 6.8%. When comparing the median sale price between 2020 and 2021, there was a positive change of 16% to $309,900.
Condominium units also had a shortage this year, with just 366 active listings. The number of sales increased slightly and the average of days to sell has gone down by 28.6%. As for the median sale price, there’s been an increase of 10.5% to $186,685.
Middlesex County Market Statistics
|Number of Sales||234||232||-0.8%|
|Average Days to Sell||64||38||-40.6%|
|Median Sale Price||$388,486||$406,953||+4.8%|
|Number of Sales||41||39||-4.9%|
|Average Days to Sell||39||26||-33.3%|
|Median Sale Price||$147,000||$172,500||+17.3%|
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 32.6%. The number of sales has shown only a slight decrease of 0.8%. The average number of days to sell has gone down a whopping 40.6% while the median sale price has increased by 4.8%.
It’s typical this time of year to have low inventory of condominiums. Down by 23.2%, active listings have not yet surpassed 100. Sales this year have decreased by 4.9%, and the average days to sell have fallen from 39 to 26. The median sale price has increased 17.3% to $172,500.
New London County Market Statistics
|Number of Sales||295||282||-4.4%|
|Average Days to Sell||52||36||-30.8%|
|Median Sale Price||$279,900||$297,000||+6.1%|
|Number of Sales||57||48||-15.8%|
|Average Days to Sell||54||31||-42.6%|
|Median Sale Price||$140,000||$180,000||+28.6%|
New London county saw a 7.4% decrease in active listings in November 2021 compared to last year. For single-family homes, sales went down by 4.4%, and it took an average of 36 days to sell a home this year, a decrease of 30.8%.
The number of condo units actively listed has gone down this year by 43.7%. Sales have also declined by 15.8%. On average, the number of days to sell has gone down by 42.6%, and the median sale price has increased by 28.6%.
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 12/6/21, with no exclusions.