September 2, 2021

CT Real Estate market Update

What's happening with the Connecticut housing market?

Sellers have enjoyed years of endless price gains and competing buyers...but is the tide turning?

Connecticut home sale prices dropped 2% in August, to a median of $325,000, down from the record highs reached in the early summer!

Ct median sale prices

While homes are still selling very quickly at just 21 days on market in August, this is also a mild slowdown from previous months. 

ct days on market

Connecticut listing inventory is starting to creep back towards normal levels. 6,200 new listings came to market in August, approaching the 15 year running average for the month.

new ct listings

What does it all mean?

The market is slowing down. As inventory continues to creep up, ultimately buyer demand will be met. It's worthwhile to note that fall and winter are generally a slower time for CT real estate. So is this just a seasonal transition, or will buyers finally see the market shift to their favor? ONLY TIME WILL TELL!

Last Updated on September 9, 2021 by Minna Reid

About the author 

Minna Reid

Minna Reid is The Broker - Owner of Reid Real Estate Group. Reid Real Estate Group is a full-service Connecticut residential real estate brokerage, specializing in helping homeowners with legal and financial challenges including short sales, probate sales and tax lien complications.

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