June 2020 market statistics are here! After a slight pause during the spring months, activity is picking up, despite low inventory.
Keep reading for a breakdown of June 2020 market statistics for single-family and condominiums in Connecticut, as well as Middlesex, New London, and New Haven Counties.
Connecticut Market Statistics
Single-Family Homes
| 2019 | 2020 | +/- | |
| Active Listings | 17,665 | 12,963 | -26.62% |
| Number of Sales | 3,824 | 3,342 | -12.6% |
| Average Days to Sell | 66 | 74 | 12.12% |
| Average Sale Price | $387,028 | $431,259 | 11.43% |
Condominiums
| 2019 | 2020 | +/- | |
| Active Listings | 3,416 | 2,871 | -15.95% |
| Number of Sales | 944 | 668 | -29.24% |
| Average Days to Sell | 72 | 73 | 1.39% |
| Average Sale Price | $215,282 | $221,140 | 2.72% |
Compared to June 2019, the number of active listings dropped 26.62%, which means there are fewer single-family homes on the market. This has led to an increase in sales price, which is up more than 11% from last year, for an average sale price of $431,259 in Connecticut.
Condominium inventory also remains low in the state, with a decrease of 15.95% year-over-year (YOY). The number of condos that sold also saw a decrease of 29.24% in June 2020. The average sale price saw a slight increase of 2.72%.
New London County Market Statistics
Single-Family Homes
| 2019 | 2020 | +/- | |
| Active Listings | 1,536 | 1,005 | -34.57% |
| Number of Sales | 337 | 311 | -7.72% |
| Average Days to Sell | 65 | 72 | 10.77% |
| Average Sale Price | $282,127 | $319,673 | 13.31% |
Condominiums
| 2019 | 2020 | +/- | |
| Active Listings | 193 | 160 | -17.1% |
| Number of Sales | 41 | 41 | 0% |
| Average Days to Sell | 89 | 47 | -47.19% |
| Average Sale Price | $188,389 | $159,824 | -15.16% |
In New London County, the number of active listings dropped even more significantly – by 34.57%. Even with this decrease in inventory, there were only 26 fewer homes sold compared to last June. The average sale price for single-family homes increased by more than 13%, bringing the average to $319,673.
The number of condos listed for sale decreased by 17.1%, but the number of sales was the same as June 2019, with 41 units sold. The average sale price of condos in New London county decreased by over 15%.
Middlesex County Market Statistics
Single-Family Homes
| 2019 | 2020 | +/- | |
| Active Listings | 1,112 | 829 | -25.45% |
| Number of Sales | 223 | 202 | -9.42% |
| Average Days to Sell | 67 | 83 | 23.88% |
| Average Sale Price | $328,429 | $356,401 | 8.52% |
Condominiums
| 2019 | 2020 | +/- | |
| Active Listings | 140 | 118 | -15.71% |
| Number of Sales | 46 | 25 | -45.65% |
| Average Days to Sell | 61 | 100 | 63.93% |
| Average Sale Price | $165,525 | $149,140 | -9.9% |
In Middlesex County, we saw a similar trend. The number of single-family homes listed for sale in June 2020 decreased by over 25%, with just 21 fewer sales than the previous year. The average sale price increased by 8.52%, up to $356,401 for a single-family home.
The number of condo units listed, as well as the number of sales, dropped by 15.71% and 45.65%, respectively. The average sale price of condominiums also dropped by almost 10% to $149,140.
New Haven County Market Statistics
Single-Family Homes
| 2019 | 2020 | +/- | |
| Active Listings | 3,206 | 2,369 | -26.11% |
| Number of Sales | 821 | 689 | -16.08% |
| Average Days to Sell | 61 | 65 | 6.56% |
| Average Sale Price | $305,646 | $312,630 | 2.28% |
Condominiums
| 2019 | 2020 | +/- | |
| Active Listings | 865 | 663 | -23.35% |
| Number of Sales | 249 | 191 | -23.29% |
| Average Days to Sell | 67 | 75 | 11.94% |
| Average Sale Price | $182,685 | $191,644 | 4.9% |
In New Haven County, the number of active listings also remained low, with a 26.11% decrease compared to June 2019. Single-family homes also saw fewer sales in June 2020 – a decrease of over 16%. The average sale price increased slightly to $312,630.
Condos listed and sold in New Haven County both decreased by over 23%, with 663 units listed and 191 closed sales in June 2020. The average sale price of condos increased by 4.9% to $191,644.
Do you have questions about the market in your area?
Questions? Contact Us!**All statistics pulled from SmartMLS on 7/8/20, with no exclusions.