Connecticut
Housing Market
The landscape of Connecticut’s housing market evolves with shifting home prices and demand. Houzeo’s housing market report tracks constant changes in supply and demand across Connecticut. Our report offers real-time insights to help you make informed decisions.
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MigrationConnecticut Housing Market Overview
Connecticut house prices show a 9.9% YoY growth as of January 2025. The consistent growth in home prices indicates the strength of the housing market. Currently, the median home price in Connecticut is $415,300. Moreover, the number of homes sold has increased by 4.9% YoY.
You can also check the market competitiveness through median days on the market. Homes in Connecticut now spend 51 days on the market before going under contract. These metrics collectively indicate changes in the Connecticut housing market’s pace and affordability.
What Does It Mean for Home Buyers and Sellers?
You can also check the market competitiveness through median days on the market. Homes in Connecticut now spend 51 days on the market before going under contract. These metrics collectively indicate changes in the Connecticut housing market’s pace and affordability.
What Does It Mean for Home Buyers and Sellers?
- If You're a Buyer: Connecticut home prices rose to $415,300, a 9.9% increase from last year. But despite these higher prices, the market remains active, with homes selling in 51 days on average. Strong demand means high competition, so aim to lock in pre-approved offers.
- If You're a Seller: The current housing market in Connecticut favors sellers as prices continue to climb. The number of homes sold has increased by 4.9% YoY, showing steady buyer interest. Homes may take slightly longer to sell, but demand remains strong. A well-priced home can attract serious buyers and maximize your profits.
Median Sale Price
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Connecticut Housing Supply
Are there enough homes for sale to meet buyer demand?
There were 6,855 Connecticut homes for sale in January 2025, 13.8% fewer than last year. However, sellers listed only 2,142 new houses for sale in Connecticut, a 12.7% drop year over year. As a result, the average months of supply fell to 2 months, keeping inventory tight. As a result of this low supply, the Connecticut housing market heavily leans towards sellers.
What Does It Mean for Home Buyers and Sellers?
If You're a Buyer: The Connecticut real estate market remains highly competitive. The tight 2-month supply period limits your options. Moreover, inventory has dropped 13.8% year over year, reducing housing availability even further. 2,142 new listings entered the market in January 2025, but demand still outpaces supply. In these circumstances, quick decisions and strong pre-approved offers will increase your chances of securing a home. If You're a Seller: The Connecticut housing market is very much in your favor, thanks to the low inventory. The 2-month supply keeps buyer demand high, and gives you strong negotiation power. New listings declined by 12.7 YoY, which means there will be heightened competition for your home. Strategic pricing remains the key to attract serious buyers.
There were 6,855 Connecticut homes for sale in January 2025, 13.8% fewer than last year. However, sellers listed only 2,142 new houses for sale in Connecticut, a 12.7% drop year over year. As a result, the average months of supply fell to 2 months, keeping inventory tight. As a result of this low supply, the Connecticut housing market heavily leans towards sellers.
What Does It Mean for Home Buyers and Sellers?
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Connecticut
Connecticut Housing Demand
The percentage of homes selling above list price points to housing demand. More homes selling above list price means strong competition and high demand. A drop in this percentage suggests more supply. This trend helps to measure market competitiveness.
In January 2025, a staggering 46.5% of houses in Connecticut sold above list price, 4.1 points less than last year. At the same time, price reductions increased by 3.2 points YoY, with 16.6% of sellers dropping prices. The 100.6% sale-to-list price ratio suggests that buyers are typically paying above asking price, and that bidding wars will continue.
What Does It Mean for Home Buyers and Sellers?
If You're a Buyer: The Connecticut housing market remains competitive because demand is high and supply is low. Only 16.6% of homes had price drops, while 46.5% sold above list price in January 2025. Quick decisions and competitive offers will improve your chances of securing a home. If You're a Seller: Your property has strong market value in Connecticut. Low inventory keeps demand high, giving you a healthy advantage. Though price drops increased slightly, most homes still sell at or above list price. Strike while the iron is hot and price your home smartly to receive maximum offers.
In January 2025, a staggering 46.5% of houses in Connecticut sold above list price, 4.1 points less than last year. At the same time, price reductions increased by 3.2 points YoY, with 16.6% of sellers dropping prices. The 100.6% sale-to-list price ratio suggests that buyers are typically paying above asking price, and that bidding wars will continue.
What Does It Mean for Home Buyers and Sellers?
Homes Sold Above List Price
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Buyer’s Market
Seller’s Market
Seller: Housing demand exceeds supply and drives the prices up. Homes sell fast and get multiple offers from buyers.
Is it a Buyer’s or Seller’s Market in Connecticut?
Connecticut's housing market very much favors sellers, as home prices and demand continue to rise. The median home price climbed 9.9% year over year to $415,300, reflecting steady demand. Similarly, home sales rose 4.9%, with 2,432 homes sold this January. Since there is only 2 months of supply, buyers face limited options, which keeps competition high
While 16.6% of homes saw price drops, sellers still hold the advantage. 46.5% of homes sold above list price, and the sale-to-list price ratio remains high at 100.6%. Homes now stay on the market for a median of 51 days, slightly longer than last year, but low inventory ensures that sellers maintain control of the market.
Connecticut Housing Market Insights
Connecticut home prices rose 9.9% in January 2025, reaching a median of $415,300. This far outpaces the national increase of 4%. Home sales grew 4.9%, slightly above the national 3.1% rise. However, homes stay on the market for relatively fewer days in Connecticut.
Inventory remains tight. Connecticut houses for sale dropped 13.8% year over year, steeper than the national decline. New listings fell 12.7%, keeping supply at just two months. Low inventory may keep prices high, despite the mortgage rate of 6.88%.
46.5% of homes sold above list price, down from last year. On the other hand, price drops rose to 16.6%. The sale-to-list price ratio hit 100.6%, showing that homes sell close to asking. Tight supply and slower sales may eventually balance the Connecticut market.
Inventory remains tight. Connecticut houses for sale dropped 13.8% year over year, steeper than the national decline. New listings fell 12.7%, keeping supply at just two months. Low inventory may keep prices high, despite the mortgage rate of 6.88%.
46.5% of homes sold above list price, down from last year. On the other hand, price drops rose to 16.6%. The sale-to-list price ratio hit 100.6%, showing that homes sell close to asking. Tight supply and slower sales may eventually balance the Connecticut market.
Nationwide Migration Trends
Connecticut experienced significant outbound migration during the winter of 2024. From November 24 to January 25, over 2,000 residents searched for out-of-state homes.
This migration pattern reflects the broader cost of living index trends. The cost of living index in Connecticut is on the higher end, 13.1% higher than the national average.
This migration pattern reflects the broader cost of living index trends. The cost of living index in Connecticut is on the higher end, 13.1% higher than the national average.
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Frequently Asked Questions
How have house prices in Connecticut changed over the past year?
Average home prices in Connecticut have continued to rise over the past years, driven by high demand and low inventory. The median home price in Connecticut has increased at an average growth rate of 9.9%, with some regions seeing double-digit percentage growth. You can check your home’s fair market value with a free home value estimator to know where you stand.
Are housing prices dropping in Connecticut?
No, Connecticut house prices are not dropping. In January 2025, the median price rose to $415,300, up 9.9% year-over-year. While 16.6% of CT Homes for sale saw price drops, demand and low inventory keep prices high — making it a seller’s market.
What’s the average home price in Connecticut?
The average house price in Connecticut varies depending on location, size, and market conditions. It typically ranges from $296,000 for condos to $446,900 for single-family homes.
What is the Connecticut housing market forecast for 2025?
Connecticut's housing market will stay favorable for sellers in 2025. Low inventory and rising demand will keep prices high. Increased inventory may slow price growth, but competition is projected to remain strong. With mortgage rates at 6.88%, buyers face a challenging market.
What is the average mortgage rate for home buyers in Connecticut?
The average mortgage rate for home buyers in Connecticut fluctuates between 6.16% and 7.5%. When you apply for a mortgage, make sure to check your credit score and the current mortgage rates with lenders.
How does the Connecticut housing market compare to the national market?
The Connecticut housing market demonstrates stronger performance than the national market, as evidenced by the robust price growth and active sales numbers.The state's tight 2-month supply indicates intense market competition. These conditions maintain Connecticut's position as a seller's market.
Is now a good time to buy or sell a home in Connecticut?
It depends on the current trends in housing prices and inventory in your city. Sellers can benefit from high demand and rising prices. However, if mortgage rates are stable with more than 6 months of supply, it’s the best time to buy a house in Connecticut.
How can I list my home for sale in Connecticut?
You can list your home for sale with a Flat Fee MLS Connecticut listing service. High-tech MLS listing sites like Houzeo automatically assign the right MLS paperwork based on your location. 🚀
Will the housing market go down in Connecticut?
No, the housing market in Connecticut will not go down. Home prices rose 9.9% year over year, reaching a median of $415,300 in January 2025. While some Connecticut homes saw price drops, overall demand and low inventory keep prices high.
Is it expensive to live in Connecticut?
Connecticut’s cost of living is 13.1% above the national average, making it one of the most expensive states in the US. Housing costs drive much of this expense, with a median value of $415,300. However, some areas offer affordable options compared to high-cost regions. Hartford, Waterbury and Norwich are some of the cheapest places to live in Connecticut.
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