Connecticut Market Statistics: July 2023
This week, we’ve put together a list of market stats for this July 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.
Single-Family Homes
| 2022 | 2023 | +/- | |
| Active Listings | 6,028 | 4,847 | -19.59% |
| Number of Sales | 3,099 | 2,228 | -28.11% |
| Average Days to Sell | 30 | 28 | -6.67% |
| Median Sale Price | $410,000 | $440,000 | +7.32% |
Condominiums
| 2022 | 2023 | +/- | |
| Active Listings | 1,288 | 1,091 | -15.3% |
| Number of Sales | 875 | 583 | -33.37% |
| Average Days to Sell | 31 | 28 | -9.68% |
| Median Sale Price | $245,000 | $265,000 | +8.16% |
In July, active listings have decreased by 19.59% since 2022, but there has been a small increase in median sales price this year at $440,000 for single family homes.
For condos, active listings have decreased by 15.3% and the number of sales have dropped significantly at 33.37%.
New Haven County Market Statistics
Single-Family Homes
| 2022 | 2023 | +/- | |
| Active Listings | 1,356 | 1,127 | -16.89% |
| Number of Sales | 715 | 506 | -29.23% |
| Average Days to Sell | 28 | 28 | 0% |
| Median Sale Price | $355,000 | $375,000 | +5.63% |
Condominiums
| 2022 | 2023 | +/- | |
| Active Listings | 281 | 320 | +13.88% |
| Number of Sales | 240 | 154 | -35.83% |
| Average Days to Sell | 26 | 25 | -3.85% |
| Median Sale Price | $215,500 | $235,000 |
+9.05% |
In the New Haven County, the number of sales has fallen to 29.23% for single family homes. Condominium real estate is not any better as the number of sales dropped 35.83%.
Middlesex County Market Statistics
Single-Family Homes
| 2022 | 2023 | +/- | |
| Active Listings | 366 | 310 | -15.3% |
| Number of Sales | 199 | 156 | -21.61% |
| Average Days to Sell | 26 | 26 | 0% |
| Median Sale Price | $380,000 | $412,500 | +8.55% |
Condominiums
| 2022 | 2023 | +/- | |
| Active Listings | 43 | 46 | +6.98% |
| Number of Sales | 41 | 25 | -39.02% |
| Average Days to Sell | 18 | 12 | -33.33% |
| Median Sale Price | $185,000 | $222,000 | +20% |
Sales have decreased by 21.61% in Middlesex County while the average days a home is on the market has stayed the same since July 2022. Condominiums sales fell 39.02% along with the average days to sell a condo down to 33.33%.
New London County Market Statistics
Single-Family Homes
| 2022 | 2023 | +/- | |
| Active Listings | 536 | 479 | -10.63% |
| Number of Sales | 280 | 211 | -24.64% |
| Average Days to Sell | 30 | 29 | -3.33% |
| Median Sale Price | $327,500 | $360,000 | +9.92% |
Condominiums
| Active Listings | 72 | 51 | -29.17% |
| Number of Sales | 56 | 33 | -41.07% |
| Average Days to Sell | 33 | 41 | +24.24% |
| Median Sale Price | $202,250 | $230,000 | +13.72% |
There was a minor increase in median sales price in the New London county at 9.92% for single family homes.
For condominiums, active listings has decreased 29.17% as well as the number of sales at 41.07%.
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 8/1/23, with no exclusions.