CONNECTICUT
Home Sales Up, Average Price Up
Home sales are up 2.2% year over year, with May 2025 at 2,985 compared to 2,922 last May. Sales are up for single-family homes, but down for condos.
- Single families: 2,220 (2024) | 2,285 (2025)
- Condominiums: 702 (2024) | 700 (2025)
The average sale price has increased by 8.0% compared to last year, now at $602,923 from $558,089. Prices increased for all categories.
- Single families: $627,107 (2024) | $673,125 (2025)
- Condominiums: $339,927 (2024) | $373,945 (2025)
Homes Listed For Sale:
The number of homes listed is up by 5.8% when compared to May 2024.
- 2025: 4,718
- 2024: 4,458
- 2023: 4,230
Pending Home Sales:
The number of homes placed under contract is up by 3.2% when compared to May 2024.
- 2025: 3,334
- 2024: 3,231
- 2023: 3,340
Data provided by SmartMLS then compared to the prior year.
What’s Happening in the Market?
- In May 2025, national home sales decreased by 0.7% compared to a year ago. Despite this trend, Connecticut saw a slight increase in homes sold.
- According to Mortgage News Daily, May mortgage rates ended around 6.9%. So far in June, rates have been remaining steady between 6.8% – 6.9%
- According to ZeroHedge, U.S. housing inventory reached 4.6 months in May, meaning if no additional homes were listed, it would take 4.6 months for what’s on the market to sell. This is the highest level in over 7 years. Connecticut seems to be following the trend, with an increase in inventory signaling a shift toward a more balanced market.
- Buyers, the days of bidding wars and soaring prices are fading! According to CNN Business, home values may even dip slightly by year’s end, giving you more power and possibility.