This week, we’ve compiled a list of market stats for this September 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
|Number of Sales||3,748||2,993||-20%|
|Average Days to Sell||37||32||-13.5%|
|Median Sale Price||$345,000||$377,500||+9.42%|
|Number of Sales||1,112||816||-26.6%|
|Average Days to Sell||36||32||-11.1%|
|Median Sale Price||$201,750||$238,950||+18.4%|
September 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 September 2021. September’s active listings did not match or increase for Connecticut residents. The average number of days to sell went down by 13.5%, bringing the median sale price up by almost 10%.
As for condominiums, we have seen a drop in the number of active listings and sales. It has taken an average of 32 days for condos to sell, a slight decrease from the 2021 average of 36 days on the market. The median sale price has gone up by 18.4% to $238,950.
New Haven County Market Statistics
|Number of Sales||810||635||-21.6%|
|Average Days to Sell||37||34||-8%|
|Median Sale Price||$300,000||$344,000||+15%|
|Number of Sales||278||240||-14%|
|Average Days to Sell||37||29||-22%|
|Median Sale Price||$180,000||$200,000||+11.1%|
In September 2021, there were 1,641 active listings for single-family homes. This year, there has been a decrease of 3.4% to 1,585 homes listed. Home sales were down 21.6%, and the average number of days on the market decreased slightly from 37 to 34. The median sale price rose by 15% in 2022, from $300,000 to $344,000.
This month, condominium units also had a shortage, with just 343 active listings. The number of sales decreased by 14%, and the average number of days to sell went down by 22%. As for the median sale price, there’s been an increase of 11.1% to $200,000.
Middlesex County Market Statistics
|Number of Sales||231||160||-30%|
|Average Days to Sell||36||27||-25%|
|Median Sale Price||$360,000||$390,000||+8.3%|
|Number of Sales||41||35||-14.6%|
|Average Days to Sell||30||14||-53%|
|Median Sale Price||$174,000||$195,000||+12%|
Middlesex County has had difficulty trying to surpass last year’s numbers. Single-family homes were short of 2021’s active listings by 16%. The number of sales has shown a decrease of 30%. The average number of days to sell has decreased from 36 to 27, while the median sale price has increased by 8.3%.
The number of condominiums listed has seen a notable decrease of 26%. Sales for the month of September have fallen 14.6% from 2021’s numbers. The average days on market were cut in half, and the median sale price increased 12% to $195,000.
New London County Market Statistics
|Number of Sales||327||262||-20%|
|Average Days to Sell||30||31||+3.3%|
|Median Sale Price||$318,000||$331,250||+4.2%|
|Number of Sales||81||40||-50.6%|
|Average Days to Sell||40||20||-50%|
|Median Sale Price||$179,900||$232,500||+29.2%|
New London county saw a slight decrease in active listings in September 2022 compared to last year. For single-family homes, sales went down by 20%, and it took an average of 31 days to sell a home this year, a one day increase from 2021. The median sale price increased by 4.2% to $331,250.
The number of condo units actively listed has remained consistent with 2021. Sales have decreased from 2021 to 2022 by over 50%. The number of days to sell has gone down by 50%, and the median sale price has increased almost 30% to just over $232K.
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 10/3/22, with no exclusions.