Connecticut Real Estate Market Weekly Insights (6-2-25)

In this week’s episode of Connecticut Real Estate Market
Weekly Insights, we dive into the latest housing market data
for single-family homes across the state. As of June 2025, the
median sale price rose to $465,000, marking a 6.3% year-over-year
increase, even as sales dipped by 3%. Buyer demand remains
strong, with homes selling in a median of 14 days, and 36% of
homes still selling over asking—though bidding wars are
softening. Most transactions fall in the $200k–$599k range, and
homes under $400k are seeing the fiercest competition due to
tight inventory.


The state currently has 3.1 months of supply—still a seller’s
market but slowly trending toward balance. Price drops have
increased 16% from last year, indicating more realistic seller
expectations. Migration trends show that while many Connecticut
residents are relocating to states like Florida and the
Carolinas, New York continues to be a major source of new buyers
entering the state.


We also cover rising mortgage interest rates, which closed last
week near 7% for 30-year fixed loans, and provide updates on
Connecticut’s housing-related legislation. New CHFA guidelines
now expand access to down payment assistance through income limit
increases and regional eligibility changes. Meanwhile, a sweeping
housing bill recently passed in the House introduces zoning
reforms, transit-oriented development incentives, and tenant
protections—setting the stage for expanded housing supply across
the state.


Additional headlines include the nearing completion of Habitat
for Humanity’s Burnside Hope development in East Hartford,
efforts to address property neglect in New Haven, and the
stalling of a rent cap bill aimed at protecting mobile home
residents. On the national front, we discuss home price trends, a
new VA Home Loan Reform Act, rising unemployment claims, and
declining mortgage applications.


If you’re planning to buy or sell a home in Connecticut, these
insights can help you make informed decisions in a shifting
market.


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!