This week, we’ve compiled a list of market stats for this February compared to 2022. 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
Single-Family Homes
| 2022 | 2023 | +/- | |
| Active Listings | 4,159 | 3,873 | -6.8% |
| Number of Sales | 1,937 | 1,474 | -23.9% |
| Average Days to Sell | 52 | 49 | -5.7% |
| Median Sale Price | $330,000 | $335,000 | +1.52% |
Condominiums
| 2022 | 2023 | +/- | |
| Active Listings | 1,035 | 986 | -4.7% |
| Number of Sales | 621 | 451 | -27.4% |
| Average Days to Sell | 47 | 40 | -14.9% |
| Median Sale Price | $205,000 | $237,500 | +15.8% |
February 2023 has remained consistent with the previous months in lower inventory quantity from the past year. February’s active listings did not match or increase for Connecticut residents. The number of sales decreased by 23.9% to 1474. The average number of days to sell went down by 5.7%, bringing the median sale price up by almost 2%.
As for condominiums, we have a slight decrease in the number of active listings and a drop in sales. It has taken an average of 40 days for condos to sell, a slight decrease from the 2022 average of 47 days on the market. The median sale price has gone up over 15% to $237,500.
New Haven County Market Statistics
Single-Family Homes
| 2022 | 2023 | +/- | |
| Active Listings | 828 | 876 | +5.8% |
| Number of Sales | 441 | 344 | -22% |
| Average Days to Sell | 54 | 48 | -11.1% |
| Median Sale Price | $300,000 | $310,500 | +3.3% |
Condominiums
| 2022 | 2023 | +/- | |
| Active Listings | 237 | 289 | +21.9% |
| Number of Sales | 161 | 122 | -24.2% |
| Average Days to Sell | 42 | 35 | -16.7% |
| Median Sale Price | $175,000 | $219,500 | +25% |
In February 2022, there were 828 active listings for single-family homes. This year, there has been an increase of 5.8% to 876 homes listed. Home sales were down 22%, and the average number of days on the market decreased from 54 to 48. The median sale price rose by 3.3% in 2023, from $300,000 to $310,500.
This month, condominium units had a considerable increase in active listings. The number of sales decreased by almost 30%, and the average number of days to sell went down by 16.7%. As for the median sale price, there’s been an increase of 25% to $219,000.
Middlesex County Market Statistics
Single-Family Homes
| 2022 | 2023 | +/- | |
| Active Listings | 224 | 251 | +12% |
| Number of Sales | 100 | 91 | -9% |
| Average Days to Sell | 53 | 47 | -11.3% |
| Median Sale Price | $334,750 | $369,000 | +10% |
Condominiums
| 2022 | 2023 | +/- | |
| Active Listings | 39 | 28 | -28% |
| Number of Sales | 30 | 19 | -36% |
| Average Days to Sell | 29 | 57 | +96% |
| Median Sale Price | $187,000 | $213,000 | +13.9% |
In February 2022, there were 224 active listings for single-family homes. This year, there has been an increase of 12% to 251 homes listed. The number of sales has shown a decrease of 9%. The average number of days to sell has decreased from 53 to 47, while the median sale price has increased by 10%.
The number of condominiums listed has seen a notable decrease of 28%. Sales for the month of January have fallen 36% from 2022’s numbers. The average days on market increased by 96%, and the median sale price increased 13.9% to $213,000.
New London County Market Statistics
Single-Family Homes
| 2022 | 2023 | +/- | |
| Active Listings | 346 | 323 | -6.6% |
| Number of Sales | 169 | 158 | -6.5% |
| Average Days to Sell | 51 | 45 | -11.8% |
| Median Sale Price | $295,000 | $317,500 | +7.4% |
Condominiums
| 2022 | 2023 | +/- | |
| Active Listings | 54 | 48 | -11.1% |
| Number of Sales | 34 | 28 | -17.6% |
| Average Days to Sell | 35 | 42 | +20% |
| Median Sale Price | $178,000 | $185,000 | +3.9% |
New London county saw a decrease in active listings in February 2023 compared to last year. For single-family homes, sales went down by 6.5%, and it took an average of 51 days to sell a home this year, a six-day decrease from 2022. The median sale price increased to $317,500.
The number of condo units actively listed has decreased since 2022. Sales have decreased from 2022 to 2023 by 17.6%. The number of days to sell has gone up by 20%, and the median sale price has increased by 3.9% to 185K.
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 3/19/23, with no exclusions.