Connecticut Real Estate Market Weekly Insights (6-9-25)

In this week’s Connecticut Real Estate Market Weekly Insights, we focus on single-family home trends across five key counties: New Haven, Hartford, Middlesex, Fairfield, and New London. Statewide, May 2025 saw 1,949 single-family home sales—up 2.7% year-over-year. Fairfield County remained the most expensive, with a median sale price of $825,000, while Hartford County saw a strong 12.6% increase in sales volume. Median days on market are falling in many areas, reflecting fast-moving sales and high buyer demand, particularly in the $300K–$499K price range.The episode highlights buyer competition, especially in Hartford and Middlesex, where over-asking offers are most common. West Hartford led the state in number of single-family home sales, and inventory across Connecticut remains critically low, with only 1.59 months of supply—well below the 5-6 months that signify a balanced market.We also dive into legislative developments:Connecticut has committed an additional $100 million to address crumbling home foundations, bringing the total to $300 million, with repairs expected to conclude by 2031.The state launched the $50 million Greyfield Revitalization Program to convert vacant commercial properties as part of a $9.7 billion capital budget, which also supports housing, manufacturing, and infrastructure.Connecticut ranked among the top U.S. states for engaged home shoppers on Zillow, indicating robust buyer interest.On the national level, we explore declining pending home sales, narrowing price gaps between new and existing homes, record-high listing values, and growing stale inventory. Rising interest rates continue to impact affordability, though builder incentives and more listings are helping balance the market.Whether you're buying, selling, or just staying informed, this episode gives you the data and context to navigate the current real estate landscape in Connecticut. If you’re interested in buying, selling, or renting real estate anywhere within the State of Connecticut, please visit our website to see how we can assist you!