In this week’s Connecticut Real Estate Market Weekly Insights, we focus on single-family homes across the state as of November 2025. The episode reports that the median sale price climbed to $460,000, up 8% from last year, while the average sale price surged nearly 14% to $655,000. With 2,431 sales in October—up 1.9% year-over-year—and a median of 19 days on market, the data shows a market that remains fast-moving and competitive. Buyers continue to pay a premium, averaging 1.7% over asking price despite slightly easing demand compared to last year.

The discussion highlights that one-third of single-family sales fall between $200,000 and $399,000, and another 31% between $400,000 and $599,000—making mid-range homes the most active. Luxury homes over $1 million maintain steady but slower activity. Inventory levels improved slightly, with 4,208 active listings and 3,039 new listings in October, translating to only 1.73 months of supply—well below the 5–6 months considered balanced. Homes in the $200,000–$400,000 range have the lowest supply, while those over $3 million show more buyer leverage.

The average Connecticut home is about 2,200 square feet with three to four bedrooms. Three-bedroom homes lead in sales at a median price of $417,000, while four-bedroom homes average around $630,000. Roughly 35% of current listings have seen price drops averaging 10%, especially in higher price tiers above $1.4 million. Sellers who reduce prices to market levels typically go under contract within 18 days. Overall, the market remains a seller’s market, though early signs of balance are emerging.

Migration data shows most Connecticut sellers are relocating to Florida, New York, or Massachusetts, while many new buyers are coming from New York and neighboring states. About 83% of buyers already live in Connecticut, suggesting a largely local market with steady inbound interest from nearby metro areas.

The episode also reviews mortgage rate averages as of late October: 6.28% for 30-year fixed, 5.81% for 15-year fixed, 6.01% for FHA, and 6.03% for VA loans. In local news, United Illuminating’s approved rate hike will raise monthly electric bills by roughly $9 to $13 starting November 2025, though less than originally proposed. The show also breaks down Connecticut’s new housing bill discussions aimed at easing development restrictions by pre-zoning for higher density, revising parking requirements, and coordinating regional housing efforts—while balancing local control concerns.

Nationally, the episode references a Realtor.com luxury housing report showing softening prices in upper-tier markets and longer time on market. Fannie Mae’s Economic & Strategic Research Group projects a gradual housing recovery, with 30-year mortgage rates potentially falling to 5.8% by 2026 and home price growth moderating to 2%. Inflation data from the Bureau of Labor Statistics shows modest CPI growth at 3% year-over-year, suggesting stable conditions ahead for real estate and lending.

The episode closes by encouraging Connecticut buyers and sellers to act strategically, given that the market still favors sellers but is inching toward balance.

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!