It’s time to celebrate! As we reach the fourth quarter, let’s reflect on September’s market stats and exceed our real estate goals as we prepare for the following term. As always, we’ve taken the liberty and complied a list of September’s Market Stats, comparing 2020 and 2021.
Take a look at all of the stats for Connecticut and the New Haven, Middlesex, and New London Counties.
Connecticut Market Statistics
|Number of Sales||4,512||3,656||-18.97%|
|Average Days to Sell||60||37||-38.33%|
|Median Sale Price||$330,000||$345,000||4.55%|
|Number of Sales||1,071||1,077||0.56%|
|Average Days to Sell||63||37||-41.27%|
|Median Sale Price||$189,900||$205,000||7.95%|
As you can see, September 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 has gone down since September 2020. As we look at the number of active listings, September did not match or increase for Connecticut residents. However, the average number of days to sell has gone down by 38%, bringing the median sale price up by 4%.
As for condominiums, we have also seen a drop in number of active listings and a nearly neutral change in number of sales. In fact, as of September 2021, the number of listings has gone down by 17%. However, the number of sales has made a minimal change by 0.5%. Just like single-family homes, it has taken an average of 37 days to sell condominium units, and the median sale price has gone up by 7%.
New Haven County Market Statistics
|Number of Sales||915||792||-13.44%|
|Average Days to Sell||52||37||-28.85%|
|Median Sale Price||$280,000||$300,000||7.14%|
|Number of Sales||282||269||-4.61%|
|Average Days to Sell||64||38||-40.63%|
|Median Sale Price||$160,000||$180,000||12.5%|
In September 2020, we had 2,036 active listings for single-family homes. This year, there was a decrease of 7%, and the number of sales went down by 13%. With such changes, the average number of days to sell single-family homes has also decreased by 28%. However, when comparing the median sale price between 2020 and 2021, there was a positive change. The median sale price increased by 7% to $300,000.
As for condominium units, they too had a shortage this year, only making 493 active listings. The number of sales slowly decreases by 4%, just as the average days to sell has gone down by 40%. As for the median sale price, there’s been an increase of 12% to $180,000.
Middlesex County Market Statistics
|Number of Sales||261||227||-13.03%|
|Average Days to Sell||56||36||-35.71%|
|Median Sale Price||$306,000||$360,000||17.64%|
|Number of Sales||39||40||2.56%|
|Average Days to Sell||48||30||-37.5%|
|Median Sale Price||$155,000||$169,500||9.35%|
Middlesex county has also had a hard time trying to surpass last year’s numbers. Single-family homes were short of 2020’s active listings by 18%. The number of sales has also shown a decrease in this year’s results, 13% to 227. However, the average number of days to sell has gone down while the median sale price has increased by 17%.
Condominiums around this time of year have shown to have low numbers of active listings. Down by 3%, active listings have yet been able to get past 100. However, they have made more sales this year by 2%, even though the average days to sell has been 30. Nonetheless, the median sale price continues to climb the ladder, increasing 9% to $169,500.
New London County Market Statistics
|Number of Sales||363||322||-11.29%|
|Average Days to Sell||58||30||-48.28%|
|Median Sale Price||$291,000||$315,871||8.55%|
|Number of Sales||59||77||30.51%|
|Average Days to Sell||76||40||-47.37%|
|Median Sale Price||$150,000||$179,900||19.93%|
Like Middlesex county and the rest of the Connecticut Market, New London county saw a 5% decrease in active listings in September 2021’s statistics. For single-family homes, sales went down by 11%, and it took an average of 30 days to sell a home this year. The median sale price this year was $315,871, an increase from last year’s results only by 8%,
The number of condo units actively listed has gone down this year by 41%, while sales have increased by 30%. On average, the number of days to sell has gone down by 47%, and the median sale price increases by 19%.
We hope this helps you understand the trends across the state as you navigate through your real estate needs. While it is apparent that the seasons are changing, we’ve noticed the market stats shift along with it. You should always connect with an agent to know more about what you can do regarding your real estate needs.
**All statistics pulled from SmartMLS on 10/4/21, with no exclusions.