This week, we’ve compiled a list of market stats for this March 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 | 4,456 | 4,279 | -3.9% |
| Number of Sales | 2,495 | 1,986 | -20.4% |
| Average Days to Sell | 47 | 45 | -4.3% |
| Median Sale Price | $345,900 | $350,500 | +1.4% |
Condominiums
| 2022 | 2023 | +/- | |
| Active Listings | 1,149 | 1,075 | -6.4% |
| Number of Sales | 823 | 662 | -19.6% |
| Average Days to Sell | 36 | 36 | 0% |
| Median Sale Price | $210,000 | $250,000 | +19% |
March 2023 has remained consistent with the previous months in lower inventory quantity from the past year. March’s active listings did not match or increase for Connecticut residents. The number of sales decreased by 20.4% to 1986. The average number of days to sell went down by 4.3%, 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 36 days for condos to sell. The median sale price has gone up by 19% to $250,000.
New Haven County Market Statistics
Single-Family Homes
| 2022 | 2023 | +/- | |
| Active Listings | 969 | 986 | +1.8% |
| Number of Sales | 570 | 492 | -13.7% |
| Average Days to Sell | 40 | 44 | +10% |
| Median Sale Price | $315,000 | $315,000 | 0% |
Condominiums
| 2022 | 2023 | +/- | |
| Active Listings | 261 | 295 | +13% |
| Number of Sales | 210 | 166 | -20% |
| Average Days to Sell | 30 | 31 | +3.3% |
| Median Sale Price | $174,000 | $207,500 | +19% |
In March 2022, there were 969 active listings for single-family homes. This year, there has been an increase of 1.8% to 986 homes listed. Home sales were down 13.7%, and the average number of days on the market decreased from 40 to 44. The median sale price did not increase in 2023, and remained $315,000.
This month, condominium units had a considerable increase in active listings. The number of sales decreased by 20%, and the average number of days to sell went up by 3.3%. As for the median sale price, there’s been an increase of 19% to $207,500.
Middlesex County Market Statistics
Single-Family Homes
| 2022 | 2023 | +/- | |
| Active Listings | 256 | 289 | +12.9% |
| Number of Sales | 129 | 111 | -13% |
| Average Days to Sell | 52 | 37 | -28% |
| Median Sale Price | $370,000 | $380,000 | +2.7% |
Condominiums
| 2022 | 2023 | +/- | |
| Active Listings | 52 | 35 | -32% |
| Number of Sales | 33 | 30 | -9% |
| Average Days to Sell | 12 | 15 | +25% |
| Median Sale Price | $150,500 | $191,500 | +27% |
In March 2022, there were 256 active listings for single-family homes. This year, there has been an increase of 12.9% to 289 homes listed. The number of sales has shown a decrease of 13%. The average number of days to sell has decreased from 52 to 37, while the median sale price has increased by 2.7%.
The number of condominiums listed has seen a notable decrease of 32%. Sales for the month of March have fallen 9% from 2022’s numbers. The average days on market increased by 25%, and the median sale price increased 27% to $191,500.
New London County Market Statistics
Single-Family Homes
| 2022 | 2023 | +/- | |
| Active Listings | 360 | 384 | +6.6% |
| Number of Sales | 208 | 187 | -10% |
| Average Days to Sell | 49 | 36 | -26% |
| Median Sale Price | $309,000 | $315,000 | +1.9% |
Condominiums
| 2022 | 2023 | +/- | |
| Active Listings | 53 | 50 | -5.6% |
| Number of Sales | 53 | 33 | -37% |
| Average Days to Sell | 35 | 25 | -28.5% |
| Median Sale Price | $185,000 | $175,500 | -5.1% |
New London county saw an increase in active listings in March 2023 compared to last year. For single-family homes, sales went down by 10%, and it took an average of 36 days to sell a home this year, a thirteen-day decrease from 2022. The median sale price increased to $315,000.
The number of condo units actively listed has decreased since 2022. Sales have decreased from 2022 to 2023 by 37%. The number of days to sell has gone down by 28.5%, and the median sale price has decreased by 5.1% to $175,500.
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 4/5/23, with no exclusions.