Connecticut Real Estate Market Weekly Insights (7-21-25)

In this July 21, 2025 episode of Connecticut Real Estate
Market Weekly Insights, we deliver a comprehensive look at
the Connecticut multi-family housing market and how local and
national developments may impact real estate investors,
homeowners, buyers, and sellers.


Multi-Family Market Performance (April 1 – July 20,
2025):


Sales Volume: 880 statewide multi-family
transactions, down 1.6% from the same period last year.


Pricing: Median sale price rose to $425,000 (up
11.8%) and average sale price climbed to $523,514 (up 19.3%).


Price Per Sq Ft: Increased to $182, up 9.1% year
over year.


Days on Market (DOM): Median DOM dropped to 12
days, reflecting strong buyer demand and fast-moving properties.


June 2025 Highlights: 246 sales totaling $162M,
with a median price of $440,000 and an average of nearly
$660,000—up significantly from June 2024.


Trends by Price Range:


Properties under $200K saw a 60.3% drop in sales.


$500K–$599K properties rose by 63%, and $600K–$999K saw a 43.8%
increase.


Mid- to upper-tier homes remain competitive, with buyers in the
$500K–$599K and $1M–$1.99M range often paying over asking price.


$2M+ properties lagged, with no transaction growth and discounts
averaging 2.27% below asking.


Buyer Behavior & Demand Insights:


Median DOM across all tiers was 21 days.


Homes priced between $300K–$599K are moving fastest (18–23 days).


Buyer competition remains steady statewide, with properties still
selling above asking price in key price bands.


Key Takeaway:
Investor demand remains strong for higher-value multi-family
properties despite fewer total sales, indicating a market shift
toward quality over quantity. Location remains critical, with
notable price and demand variances across Connecticut cities and
neighborhoods.


Local Market Headlines:


Waterbury: A 32-unit building at 669 Waterville
Street sold for $3.9M in July, doubling in value since 2021. The
deal reflects continued investor interest in mid-sized
multifamily assets.


Watertown: The town faces a $34.9M judgment over
unpaid water and sewer bills to Waterbury. Officials are
evaluating financial options, including bond issuance and service
restructuring, while residents call for cooperation and
transparency.


National Real Estate Trends:


Rents: U.S. median asking rent declined 0.5% YoY
to $1,642, the fourth straight drop, due to a surge in apartment
supply. Vacancy rates are high, and renters are gaining leverage.


Equity Levels: 46.2% of U.S. mortgaged homes are
equity-rich, with Connecticut’s share rising to 48%. Underwater
properties remain rare, though southern and midwestern states
show higher stress.


Inventory & Builder Confidence: Housing
inventory is up, easing prices and improving buyer conditions.
However, homebuilders face pressure, cutting prices and offering
incentives as confidence dips.


Final Thoughts:
Whether you're buying, selling, or investing, this week's
insights underscore the importance of strategy, pricing, and
timing. The Connecticut multifamily sector continues to offer
opportunity, especially in the $300K–$599K range, but market
knowledge is key.


To discuss how these trends affect your next move, contact
Triniyah Real Estate at (203) 200‑0933 or visit www.triniyah.com.


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!