March was a whirlwind of a month for all of us. As an essential business, the real estate industry was able to move forward with closings. Below, you can find the March market statistics for all of Connecticut, as well as New London, Middlesex, and New Haven Counties.
Connecticut Market Statistics
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Single-Family Homes |
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| 2019 | 2020 | +/- | |
| Active Listings | 14,423 | 12,463 | -13.59% |
| Number of Sales | 2,311 | 2,515 | 8.83% |
| Average Days to Sell | 90 | 85 | -5.56% |
| Average Sale Price | $336,973 | $358,159 | 6.29% |
| Highest Sale | 293 Chapman Lane, Greenwich: $5,100,000 | ||
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Condominiums |
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| 2019 | 2020 | +/- | |
| Active Listings | 3,081 | 2,802 | -9.06% |
| Number of Sales | 670 | 598 | -10.75% |
| Average Days to Sell | 89 | 79 | -11.24% |
| Average Sale Price | $212,279 | $215,761 | 1.64% |
| Highest Sale | 3 River Oaks Drive, Stamford: $1,152,850 | ||
Throughout Connecticut, the trend of low inventory from January and February continued. There was a decrease of 13.59% in active listings of single-family homes, when compared to March of 2019. Even with the decrease in inventory, there was an 8.83% increase in sales, with 2,515 homes sold throughout the month. The average sale price also increased by 6.29%, up to $358,159.
For condominiums across Connecticut, there was also a decrease in the number of listings, down by 9.06%. There was a decrease in the number of condo units sold, down to 598 in March 2020, compared to 670 in March 2019. The average sales price did increase slightly, by 1.64%
New London County Market Statistics
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Single-Family Homes |
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| 2019 | 2020 | +/- | |
| Active Listings | 1,282 | 1,077 | -15.99% |
| Number of Sales | 220 | 239 | 8.64% |
| Average Days to Sell | 80 | 89 | 11.25% |
| Average Sale Price | $249,123 | $271,279 | 8.89% |
| Highest Sale | 116 Al Harvey Road, Stonington: $2,648,000 | ||
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Condominiums |
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| 2019 | 2020 | +/- | |
| Active Listings | 177 | 160 | -9.60% |
| Number of Sales | 32 | 42 | 31.25% |
| Average Days to Sell | 75 | 78 | 4% |
| Average Sale Price | $134,120 | $207,319 | 54.58% |
| Highest Sale | 17 Water Street, Unit A7, Mystic: $720,000 | ||
Single-family homes in New London County saw a 15.99% decrease in listings. The number of sales increased by 8.64%. Keeping on trend with the entire state, the average sale price also increased by 8.89%, up to $271,279 in March 2020.
The number of active listings for condos also went down by 9.6%, but there were 10 more sales in March 2020, compared to the previous year. The average sale price saw a significant increase, up to $207,319 in March 2020, compared to $134,120 in 2019.
Middlesex County Market Statistics
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Single-Family Homes |
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| 2019 | 2020 | +/- | |
| Active Listings | 865 | 807 | -6.71% |
| Number of Sales | 117 | 150 | 28.21% |
| Average Days to Sell | 93 | 92 | -1.08% |
| Average Sale Price | $317,878 | $289,983 | -8.78% |
| Highest Sale | 157 Essex Street, Deep River: $785,000 | ||
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Condominiums |
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| 2019 | 2020 | +/- | |
| Active Listings | 146 | 114 | -21.92% |
| Number of Sales | 26 | 23 | -11.54% |
| Average Days to Sell | 65 | 149 | 129.23% |
| Average Sale Price | $185,079 | $197,016 | 6.45% |
| Highest Sale | 25 Sheffield Street, Unit 7, Old Saybrook: $579,900 | ||
In Middlesex County, the number of active listings dropped by 6.71%, but the number of sales increased by 28.21% in March 2020. There was a decrease of 8.78% in sales price, dropping the average sale price below $300,000.
The number of condos listed for sale in March 2020 was a 21.92% decrease compared to 2019. The number of sales also dropped from 26 to 23 in 2020. The average sale price increased by 6.45%
New Haven County Market Statistics
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Single-Family Homes |
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| 2019 | 2020 | +/- | |
| Active Listings | 2,678 | 2,314 | -13.59% |
| Number of Sales | 494 | 521 | 5.47% |
| Average Days to Sell | 81 | 73 | -9.88% |
| Average Sale Price | $261,556 | $280,877 | 7.39% |
| Highest Sale | 101 Garnet Park Road, Madison: $1,325,000 | ||
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Condominiums |
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| 2019 | 2020 | +/- | |
| Active Listings | 790 | 689 | -12.78% |
| Number of Sales | 179 | 141 | -21.23% |
| Average Days to Sell | 96 | 73 | -23.96% |
| Average Sale Price | $172,407 | $163,604 | -5.11% |
| Highest Sale | 3 Turtle Bay Drive, Branford: $465,000 | ||
Single-family homes in New Haven County follow the trends of the state. The number of active listings decreased by 13.59% in March 2020, but the number of sales increased by 5.47%. The average sale price also increased by 7.39%, up to $280,877 in March 2020.
Condo units decreased in both the number of active listings (-12.78%) and the number of sales (-21.23%). The average sale price also decreased by 5.11%, down to $163,604 in March 2020.
So what do all these numbers mean? Tune in below for an in-depth review:
If you have questions about the current market:
**All statistics pulled from SmartMLS on 4/8/20, with no exclusions.