This week, we’ve put together a list of market stats for this June compared to 2022. Below is a breakdown 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 | 6,652 | 5,089 | -23.5% |
| Number of Sales | 3,817 | 322 | -92% |
| Average Days to Sell | 26 | 29 | +11.54% |
| Median Sale Price | $397,500 | $450,000 | +3.1% |
Condominiums
| 2022 | 2023 | +/- | |
| Active Listings | 1,398 | 1,085 | -22.39% |
| Number of Sales | 1,024 | 114 | -88.87 |
| Average Days to Sell | 32 | 33 | +3.13% |
| Median Sale Price | $250,000 | $260,000 | +4% |
With the housing market skyrocketing, there has been a decrease in listings from last year in Connecticut for Single family homes. The number of sales has dropped dramatically, and the amount of days a home sits on the market has increased since 2022 as well. The sales median price has also jumped 13% in 2023.
Condo sales have taken a hit going down 22% from last year, and there have only been 114 sales in June of 2023 compared to 1,024 in 2022. The median sale price has only increased by 4% this year.
New Haven County Market Statistics
Single-Family Homes
| 2022 | 2023 | +/- | |
| Active Listings | 1,375 | 1,129 | -17.89% |
| Number of Sales | 819 | 74 | -90.96% |
| Average Days to Sell | 26 | 25 | -3.85% |
| Median Sale Price | $325,000 | $343,700 | +6.53% |
Condominiums
| 2022 | 2023 | +/- | |
| Active Listings | 316 | 296 | +6.33% |
| Number of Sales | 283 | 28 | -90.11% |
| Average Days to Sell | 28 | 26 | -7.14% |
| Median Sale Price | $213,000 | $263,000 | +23.4% |
As of June 2023, there is a 17% decrease in active listings in New Haven County and a 90% in sales. The average days to sell a home have remained the same since last year, while the median sales price has increased by 6%.
The number of sales made on condominiums has taken a considerable dip, with just 28 sales thus far and a 23% increase in median sales price to $263,000.
Middlesex County Market Statistics
Single-Family Homes
| 2022 | 2023 | +/- | |
| Active Listings | 373 | 313 | +16.08 |
| Number of Sales | 193 | 20 | -89.6% |
| Average Days to Sell | 22 | 61 | +177.2% |
| Median Sale Price | $400,000 | $524,500 | +31.1% |
Condominiums
| 2022 | 2023 | +/- | |
| Active Listings | 47 | 37 | +21.2% |
| Number of Sales | 48 | 7 | -85.4% |
| Average Days to Sell | 19 | 5 | +73.6% |
| Median Sale Price | $205,000 | $158,000 | +22.9% |
In Middlesex County, active listings have decreased 16% to 313 for single-family homes. Sales have decreased 89% to just 20 for 2023, and homes have sat on the market for 61 days, a 177% increase from 2022. The median sales price for 2023 has increased 31% to $524,500.
Active listings have decreased by 21% in 2023 for condos. The number of sales has plummeted 85% since 2022, with seven as of this year. There is a 73% decrease in the average number of days to sell a condominium in 2023 and a 22% decrease in median sales price to $158,000.
New London County Market Statistics
Single-Family Homes
| 2022 | 2023 | +/- | |
| Active Listings | 523 | 456 | -12.8% |
| Number of Sales | 333 | 35 | -89.4% |
| Average Days to Sell | 21 | 28 | +33.3% |
| Median Sale Price | $337,500 | $389,000 | +15.2% |
Condominiums
| 2022 | 2023 | +/- | |
| Active Listings | 80 | 55 | -31.25% |
| Number of Sales | 53 | 3 | -94.3% |
| Average Days to Sell | 20 | 5 | -75% |
| Median Sale Price | $190,000 | $266,000 | +40% |
Active listings have decreased by 12% in New London County, and the number of sales has decreased by 89% to 35 in 2023. The number of days a single-family home is on the market increased by 33% to 28 days this year. The median sales price went up 15% from 2022 to $389,000 this June.
Condominium listings decreased by 31% to 55 in 2023. The number of sales is just three this year, which is a 94% decrease from last year. In 2023, there is a 75% decrease in the average days to sell a condo and a 40% increase in median sales price to $266,00.
These trends should help you have a better understanding of today’s fast-paced 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 6/6/23, with no exclusions.