CONNECTICUT
Home Sales Up, Average Price Down
Home sales are up 1.0% year over year, with April 2025 at 2,488 compared to 2,457 last April. Sales are up for single-family homes, but down for condos.
- Single families: 1,832 (2024) | 1,875 (2025)
- Condominiums: 625 (2024) | 613 (2025)
The average sale price has increased by 5.8% compared to last year, now at $590,792 from $558,325. Prices increased for all categories.
- Single families: $628,953 (2024) | $665,467 (2025)
- Condominiums: $351,526 (2024) | $362,381 (2023)
Homes Listed For Sale:
The number of homes listed is up by 16.1% when compared to March 2024.
- 2025: 3,687
- 2024: 3,177
- 2023: 3,376
Pending Home Sales:
The number of homes placed under contract is up by 6.5% when compared to March 2024.
- 2025: 2,173
- 2024: 2,548
- 2023: 2,785
Data provided by SmartMLS then compared to the prior year.
What’s Happening in the Market?
- In April 2025, national home sales decreased 2.0% compared to a year ago, Despite this trend, Connecticut saw a slight increase in homes sold.
- According to Mortgage News Daily, April mortgage rates ended around 6.8%. So far in May, rates have been hovering between 6.8% and 7%
- While overall home sales in Connecticut saw a slight year-over-year increase, Condo sales saw a decline. The Wall Street Journal discusses some of the challenges affecting this slower-than-usual spring market.
- As mortgage rates hold their ground, buyers can turn to homebuyer assistance programs to ease upfront expenses.