It’s been one year since our world changed, including the real estate market.
Keep reading as we break down March 2021 market statistics across Connecticut, and how they compare to market stats from one year ago.
Connecticut Market Statistics
Single-Family Homes
| 2020 | 2021 | +/- | |
| Active Listings | 12,170 | 7,083 | -41.8% |
| Number of Sales | 2,561 | 2,962 | 15.66% |
| Average Days to Sell | 85 | 56 | -34.12% |
| Median Sale Price | $269,000 | $326,088 | 21.22% |
Condominiums
| 2020 | 2021 | +/- | |
| Active Listings | 2,733 | 2,026 | -25.87% |
| Number of Sales | 615 | 875 | 42.28% |
| Average Days to Sell | 79 | 56 | -29.11% |
| Median Sale Price | $179,900 | $196,000 | 8.95% |
Across Connecticut, a large drop in the number of active listings for single-family homes is apparent. In March 2021 there was a 41.8% decrease in listing from the previous year. However, there are more buyers out there, with a 15.66% increase in the number of sales. On average, it took just 56 days for properties to close, and the median sale price increase by 21.22% to $326,088.
Condominium units also had a drop in inventory, by 25.87% in March 2021. The number of sales increased drastically, by 42.28%. The average number of days to sell a condo was 56 days, and the median sale price saw a 8.95% increase to $196,000.
New Haven County Market Statistics
Single-Family Homes
| 2020 | 2021 | +/- | |
| Active Listings | 2,238 | 1,462 | -34.67% |
| Number of Sales | 526 | 641 | 21.86% |
| Average Days to Sell | 73 | 50 | -31.51% |
| Median Sale Price | $245,000 | $289,000 | 17.96% |
Condominiums
| 2020 | 2021 | +/- | |
| Active Listings | 660 | 409 | -38.03% |
| Number of Sales | 145 | 202 | 39.31% |
| Average Days to Sell | 73 | 39 | -46.58% |
| Median Sale Price | $144,000 | $172,000 | 19.44% |
In New Haven County, the number of single-family homes for sale in March 2021 dropped by 34.67% compared to the previous year. The number of sales increased by 21.86%, taking just 50 days to close, on average. The median sale price in New Haven County increased by 17.96% to $289,000.
New Haven County condos had a 38.03% decrease in active listings, and a 39.31% increase in the number of units sold in March 2021. On average, it took just 39 days for condos to close, and the median sale price increased by 19.44% to $172,000.
Middlesex County Market Statistics
Single-Family Homes
| 2020 | 2021 | +/- | |
| Active Listings | 764 | 535 | -29.97% |
| Number of Sales | 156 | 186 | 19.23% |
| Average Days to Sell | 93 | 61 | -34.41% |
| Median Sale Price | $271,500 | $330,000 | 21.55% |
Condominiums
| 2020 | 2021 | +/- | |
| Active Listings | 103 | 69 | -33.01% |
| Number of Sales | 24 | 43 | 79.17% |
| Average Days to Sell | 144 | 48 | -66.67% |
| Median Sale Price | $140,038 | $144,900 | 3.47% |
Single-family homes in Middlesex County had a 29.97% decrease in the number of active listings, but a 19.23% increase in the number of sales compared to last March. Properties closed in just 61 days in March 2021, and the median sale price increased by 21.55% to $330,000.
As far as condo units in Middlesex County, there was a 33% decrease in the number of listings, and 79.17% increase in the number of units sold in March 2021. It took 48 days, on average for condos to sell last month, with a slight increase in the median sale price, up to $144,900.
New London County Market Statistics
Single-Family Homes
| 2020 | 2021 | +/- | |
| Active Listings | 1,054 | 525 | -50.19% |
| Number of Sales | 246 | 236 | -4.07 |
| Average Days to Sell | 89 | 39 | -56.18% |
| Median Sale Price | $230,250 | $265,500 | 15.31% |
Condominiums
| 2020 | 2021 | +/- | |
| Active Listings | 159 | 86 | 45.91% |
| Number of Sales | 43 | 55 | 27.91% |
| Average Days to Sell | 76 | 53 | -30.26% |
| Median Sale Price | $172,000 | $148,000 | -13.95% |
In New London County, there was a 50.19% decrease in the number of single-family homes listed for sale – the biggest drop in inventory of the three counties covered here. This is also the only county that saw a drop in the number of sales, with a 4.07% decrease in the number of closings compared to March 2020. The homes that sold moved quickly, closing in just 39 days, on average. The median sale price increased by 15.31% in March 2021, up to $265,500.
The number of condo units listed for sale in New London County decreased by 45.91%. The number of sales increased by 27.91%, closing in an average of 53 days in March 2021. The median sale price of condo units decreased by 13.95% to $148,000.
**All statistics pulled from SmartMLS on 4/6/20, with no exclusions.
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