June 2024 Connecticut Market Stats

Connecticut Market Statistics: June 2024

Local market statistics reveal important trends that can impact your real estate decisions—and data from June 2024 is no exception. Whether you're navigating the market as a seller aiming to maximize your property's value or a buyer seeking the perfect home, being aware of the latest trends is essential. 

This month's update covers the latest statistics for single-family homes and condominiums in Connecticut, providing insights into the market's direction and what it means for you.

Single-Family Homes

June 2023

June 2024

+/-

Active Listings

5,312

5,218

-1.8%

Number of Sales

2,931

2,443

-16.6%

Average Days to Sell

33

23

-30.3%

Median Sale Price

$429,000.00

$479,000.00

11.7%

 

Single-family housing inventory in Connecticut continues to stay below historical norms. While inventory is rising in some markets across the country, active listings in Connecticut slightly decreased by 1.8% compared to this time last year. 

Homes sold quickly in June, with the average days to sell being just 23 days. However, the number of sales decreased in June by 16.6%, reflecting a slower sales pace than last year. This may be due to higher mortgage rates along with an increase in sales prices, making affordability a challenge. The median sales price in June 2024 was $479,000, an 11.7% increase from last June’s $429,000. 

Condominiums

June 2023

  June 2024

+/-

Active Listings

1,192

1,175

-1.4%

Number of Sales

833

656

-21.2%

Average Days to Sell

32

27

-15.6%

Median Sale Price

$265,000.00

$310,000.00

17.0%

 

The condominium market in Connecticut also reveals significant trends over the past year. Active listings remain low, decreasing marginally by 1.4% compared to last June. However, the number of sales has dropped more sharply by 21.2%. 

The average days to sell has decreased to 27 days, which, like the single-family market, suggests that properties are continuing to move quickly once listed. The median sale price of condos in June 2024 showed a significant increase of 17.0%, up to $310,000 compared to last year’s $265,000. 

What this means for Connecticut Residents

For homeowners and sellers, these statistics indicate a favorable market with rising home values and low days on market. It's an opportune time to consider listing your property, as the demand remains strong, particularly for median-priced properties. 

For hyper-local data for your neighborhood, contact us, and we’ll send you a detailed report. 

**All statistics pulled from SmartMLS on July 2, 2024, with no exclusions.



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