Connecticut Market Stats: June 2022

by | Jul 5, 2022 | Market Statistics | 0 comments

This week, we’ve compiled a list of market stats for this June compared to 2021. 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

20212022+/-
Active Listings8,0577,503-7%
Number of Sales4,5373,611-20%
Average Days to Sell3626-27%
Median Sale Price$366,301$400,000+9.1%

Condominiums

20212022+/-
Active Listings2,0401,584-22%
Number of Sales1,136947-16%
Average Days to Sell3831-18%
Median Sale Price$215,750$250,000+16%

June 2022 has remained consistent with the previous months in a significantly lower inventory quantity from the past year. The amount of single-family homes on the market has dropped significantly since June 2021. June’s active listings did not match or increase for Connecticut residents. The average number of days to sell went down by 27%, bringing the median sale price up by almost 10%. 

As for condominiums, we have seen a drop in the number of active listings and sales. It has taken an average of 31 days for condos to sell, a notable decrease from the 2021 average of 38 days on the market. The median sale price has gone up by 16% to $250,000.

New Haven County Market Statistics

Single-Family Homes

20212022+/-
Active Listings1,5561,578+2%
Number of Sales936777-17%
Average Days to Sell3126-16%
Median Sale Price$320,000$358,300+12%

Condominiums

20212022+/-
Active Listings435387-11%
Number of Sales265268+1.2%
Average Days to Sell3628-22%
Median Sale Price$181,000$215,000+19%

In June 2021, there were 1,556 active listings for single-family homes. This year, there has been an increase of 2% to 1,578 homes listed. Home sales went down 17%, and the average number of days on the market decreased from 31 to 26. The median sale price rose by 12% in 2022, from $320,000 to $358,300.

This month, condominium units also had a shortage with just 387 active listings. The number of sales increased slightly and the average number of days to sell went down by 22%. As for the median sale price, there’s been an increase of 19% to $215,000.

Middlesex County Market Statistics

Single-Family Homes

20212022+/-
Active Listings529442-16%
Number of Sales251183-27%
Average Days to Sell4423-48%
Median Sale Price$346,000$400,000+15%

Condominiums

20212022+/-
Active Listings7256-22%
Number of Sales42520%
Average Days to Sell1318+38%
Median Sale Price$186,250$210,000+12%

Middlesex County has had difficulty trying to surpass last year’s numbers. Single-family homes were short of 2021’s active listings by 16%. The number of sales has shown a decrease of 27%. The average number of days to sell has decreased from 44 to 23, while the median sale price has increased by 15%.

The number of condominiums listed has seen a notable decrease of 22%. Sales for the month of June have jumped 28% from 2021’s numbers. The average days to sell increased from 13 to 18, and the median sale price has increased 12% to $210,000.

New London County Market Statistics

Single-Family Homes

20212022+/-
Active Listings601597-0.5%
Number of Sales374319-15%
Average Days to Sell2521-16%
Median Sale Price$309,000$337,500-9%

Condominiums

20212022+/-
Active Listings9586-10%
Number of Sales6951-26%
Average Days to Sell3916-59%
Median Sale Price$156,138$185,000+18.5%

New London county saw a slightdecrease in active listings in June 2022 compared to last year. For single-family homes, sales went down by 15%, and it took an average of 21 days to sell a home this year, a decrease of 16%.

The number of condo units actively listed has gone down this year by 10%. Sales have decreased from 2021 to 2022 by 26%. The number of days to sell has gone down by 59%, and the median sale price has increased to 18.5%.

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 7/1/22, with no exclusions.