Entering 2021, many people asked questions about what will happen to the real estate market this year. While experts predict a strong market, we can now start to look at what happened in the first month of the year.
Keep reading as we break down the January 2021 market statistics for New Haven, Middlesex, and New London counties.
Connecticut Market Statistics
Single-Family Homes
| 2020 | 2021 | +/- | |
| Active Listings | 11,603 | 6,660 | -42.6% |
| Number of Sales | 2,188 | 2,835 | 29.57% |
| Average Days to Sell | 89 | 58 | -34.83% |
| Median Sale Price | $259,900 | $319,000 | 22.74%% |
Condominiums
| 2020 | 2021 | +/- | |
| Active Listings | 2,541 | 1,930 | -24.05% |
| Number of Sales | 552 | 780 | 41.3% |
| Average Days to Sell | 85 | 61 | -28.24% |
| Median Sale Price | $165,000 | $185,000 | 12.12% |
Across Connecticut, the number of single-family homes actively for sale dropped by over 42%, which means inventory has remained low so far this year. Buyers remain active, with a 29.57% increase in the number of sales. Homes sold faster than this time last year, with properties closing in 58 days on average. The median sale price increased to $319,000 in January 2021, a 22.74% increase from January 2020.
Condominium sales in Connecticut had similar results. The number of active listings decreased by 24%, while the number of sales increased by 41%. On average, it took 61 days for units to close. The median sale price increase by over 12%, up to $185,000 in January 2021.
New Haven County Market Statistics
Single-Family Homes
| 2020 | 2021 | +/- | |
| Active Listings | 2,068 | 1,340 | -35.2% |
| Number of Sales | 472 | 636 | 34.75% |
| Average Days to Sell | 86 | 52 | -39.53% |
| Median Sale Price | $226,000 | $268,750 | 18.92% |
Condominiums
| 2020 | 2021 | +/- | |
| Active Listings | 619 | 382 | -38.29% |
| Number of Sales | 155 | 178 | 14.84% |
| Average Days to Sell | 99 | 55 | -44.44% |
| Median Sale Price | $139,750 | $163,000 | 16.64% |
In New Haven county, the number of single-family homes listed for sale in January 2021 decreased by 35% compared to the previous year. Sales increased by almost 35%, while the average days to sell dropped to 52 days. The median sale price increased by almost 19% to $268,750.
Condos in New Haven county decrease in the number of listings by 38%. The number of sales increased by almost 15%, and the average days to sell decreased to 55 days. The median sale price for condo units in January 2021 increased by over 16% to $163,000.
Middlesex County Market Statistics
Single-Family Homes
| 2020 | 2021 | +/- | |
| Active Listings | 770 | 552 | -28.31% |
| Number of Sales | 124 | 167 | 34.68% |
| Average Days to Sell | 90 | 56 | -37.78% |
| Median Sale Price | $250,750 | $310,000 | 23.63% |
Condominiums
| 2020 | 2021 | +/- | |
| Active Listings | 108 | 71 | -34.26% |
| Number of Sales | 31 | 25 | -19.35% |
| Average Days to Sell | 56 | 30 | -46.43% |
| Median Sale Price | $141,000 | $137,900 | -2.2% |
The number of single-family homes for sale in Middlesex county decreased by over 28%. Sales in January 2021 increase by over 34% compared to last January. On average, it took 56 days for a single-family home to sell in Middlesex county, and the median sale price increased by over 23% to $310,000.
Condo listed for sale in Middlesex saw some differences compared to the rest of the statistics in January 2021. The number of active listings was low, with a decrease in inventory of 34%. However, the number of sales also decreased by 19% compared to January 2020. On average, it took 30 days to sell a condo unit in Middlesex in January 2021. The median sale price dropped slightly for units in Middlesex, down 2.2% to $137,900.
New London County Market Statistics
Single-Family Homes
| 2020 | 2021 | +/- | |
| Active Listings | 1,035 | 498 | -51.88% |
| Number of Sales | 168 | 241 | 43.45% |
| Average Days to Sell | 84 | 59 | -29.76% |
| Median Sale Price | $219,750 | $266,000 | 21.05% |
Condominiums
| 2020 | 2021 | +/- | |
| Active Listings | 169 | 105 | -37.87% |
| Number of Sales | 25 | 47 | 88% |
| Average Days to Sell | 95 | 77 | -18.95% |
| Median Sale Price | $141,800 | $148,500 | 4.72% |
In New London county, the number of single-family homes on the market decreased by almost 52% in January 2021 – the largest decrease of the three counties. Even with this low inventory, there was a 43% increase in the number of sales. The average days to sell decreased to 59 days, while the median sale price increased by 21% to $266,000.
The number of condo units for sale in New London county decreased by almost 38% in January 2021, but the number of sales increased by 88%, almost doubling last year’s numbers. The average days to sell decreased to 77 dats. The median sale price had a slight increase of 4.75%, up to $148,500.
Are you ready to buy or sell in 2021?
**All statistics pulled from SmartMLS on 2/8/21, with no exclusions.