This episode provides a comprehensive look at the Connecticut condo market and how it has been performing over the past year. Median prices have climbed to about $306,000, up more than six percent year over year, and the average sale price has risen to roughly $385,000, nearly an eleven percent increase. The episode explains the distinction between median and average pricing and highlights that condos continue to sell quickly with a median of nineteen days on market. The pricing charts show steady month-to-month movement without major spikes, reflecting a stable but upward trend.

Buyer demand remains strong though less intense than the peak bidding years. Condos are still closing for about one percent over asking on average, and several price ranges between two hundred thousand and one million dollars continue to see offers above list price. The most competitive ranges were eight hundred thousand to just under one million and one point two to one point three nine million. Lower priced units under two hundred thousand tended to sell slightly under asking. Days on market charts show typical contract times of fifteen to twenty days, pointing toward consistent demand, while the buyer demand by price range charts make clear that the two hundred thousand to four hundred thousand segment remains the busiest and most competitive statewide. Luxury price ranges above one point four million move slower and show more month-to-month volatility.

On the inventory side, the condo market sits at only one point three five months of supply, which places Connecticut squarely in seller-favored conditions. October recorded eight hundred fifty five new listings, down around two percent, and six hundred ten new pendings, down roughly fourteen percent. Both numbers declining together reflect normal seasonal slowdown mixed with buyer caution. About one thousand active condos are on the market statewide and more than six hundred are under contract. Supply is tightest in the two hundred thousand to four hundred thousand dollar range, where inventory sits at just over one month, while luxury segments remain more supplied.

Bedroom count trends show that larger condos have appreciated the most over time. One-bedroom units have a median around two hundred five thousand, two-bedrooms around three hundred thousand, three-bedrooms in the mid four hundreds, and four-bedrooms above seven hundred thousand. Price-range analysis shows the strongest over-asking results in the one point two to one point three nine million range while the three million and above category typically sells below list price.

The episode also examines price reductions, noting that nearly one-third of active condo listings have taken at least one price drop. These drops average about five percent and usually occur after roughly forty four days on market. Once adjusted, median time to contract is about seventeen days, which demonstrates that corrective pricing brings buyers back into play. Lower priced condos tend to record the highest rate of reductions while luxury reductions are fewer but usually larger and slower to convert. Seasonal patterns show that reduced listings go pending faster in the spring and slower during winter months.

The statewide condo market remains competitive due to rising values, very low inventory, and steady buyer interest. Bidding wars are calmer than in prior years, but well priced properties still draw strong offers, especially in popular price segments. Sellers must price accurately to avoid sitting too long, and buyers should be prepared for limited choices and fast moving inventory. The episode emphasizes that condo trends vary significantly by town, neighborhood, school district, and building type, making local expertise essential.

The episode then shares current mortgage rate averages: 6.34 percent for a 30-year fixed, 5.82 percent for a 15-year fixed, and just under 6 percent for FHA and VA loans.

In local real estate news, Hartford approved a new development of twenty seven owner-occupied townhouses on a former school site. The project, part of the Brackett Knoll initiative, focuses on moderate-income buyers and aims to expand homeownership opportunities instead of rental stock. Officials and residents offered strong support for the plan and its alignment with the city’s long-term development goals.

Another story highlights a LendingTree study showing that women in the New Haven and Hartford metros are out-earning their male partners at rates higher than the national average. Even so, the data reveals significant overall gender income disparities, especially at the highest and lowest ends of the income spectrum.

A third local report from the New Haven Independent details conflict at Sunset Ridge Apartments where two separate tenant groups each intend to be recognized as the official tenants’ union. Both submitted competing signature lists, leading the city to review eligibility, legitimacy, and influence concerns. The dispute illustrates the challenges of tenant organizing, internal competition, and the need for clear oversight.

National news includes a Realtor.com study showing reduced homebuyer regret in 2025. Only eight percent of recent buyers felt they overpaid, a noticeable drop from prior years, and more than a third reported no regrets at all. Longer market times and more deliberate decision-making seem to help. When regrets do occur, they tend to revolve around maintenance, unexpected expenses, and depleted savings. Satisfaction levels differ significantly by age group, with older buyers expressing the least regret and younger buyers reporting the most.

Builder sentiment from NAHB remains weak but stable, with the Housing Market Index sitting at 38. Although mortgage rates have eased slightly, concerns about the economy and costs keep demand restrained. Builders continue to rely heavily on price cuts and incentives.

The episode closes with rental market trends showing national asking rents continuing to decline for the twenty seventh straight month. Even with the recent dip, rents remain far above pre-pandemic levels, and migration trends show renters increasingly pursuing lower-cost metros rather than staying in expensive regions.

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!