Connecticut Real Estate Market Weekly Insights (6-23-25)

In this week's episode of Connecticut Real Estate Market
Weekly Insights, we provide a detailed look at how the
Connecticut condo market is performing as of May 2025. Condo
prices continue to rise, with the median sale price reaching
$305,000 and the average sale price hitting $374,000. However,
buyer urgency is cooling—units are taking longer to sell, and
over-asking bids are slightly down from last year. We explain the
difference between median and average pricing and dig into
inventory levels, revealing only 1.36 months of condo supply
statewide, reinforcing a tight seller’s market.


Listeners will also hear which price ranges are hottest, why
luxury condos are seeing price cuts, and how bedroom count
affects median sale prices. We analyze buyer demand, price
sensitivity, and the effectiveness of price reductions, all
helping sellers and buyers better understand the current
landscape.


Then we shift to local development news, including Calco
Construction’s acquisition of a 136.5-acre farm in Berlin for a
new 50-home subdivision, and the delay of a proposed Marriott
Residence Inn in New Haven due to community concerns. On the
national front, we explore Zillow’s findings on soaring home
insurance premiums, Realtor.com’s continued reports of falling
rents, and new residential construction stats showing a drop in
building starts but a spike in completions.


The episode closes with mortgage rate updates and a reminder for
buyers and sellers to seek local guidance to navigate these
dynamic conditions.


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!