Connecticut Real Estate Market Weekly Insights (4-28-25)

We start by diving into the state's condo market, where the
average sale price reached $344,196 in March, marking a 1.7%
year-over-year increase. We explain how the median days on market
(15 days) reflects strong buyer demand, and we discuss why
sellers still hold a slight advantage — although pricing
correctly remains critical. We also break down the stark contrast
between lower-priced and luxury condos, and how buyers and
sellers can navigate these market dynamics.


Next, we highlight interest rate updates, with slight decreases
across 30-year fixed, FHA, and VA mortgage rates.


In local development news, we discuss a proposed 148-unit housing
project in Manchester by 3 Squared LLC. The project aims to
provide flexible, affordable housing but faces concerns over
traffic and density from local officials.


We also explore Connecticut's Build For CT program and the
launch of a new quasi-public development agency, both designed to
drive multifamily housing creation across the state — especially
in downtown areas and near transit hubs. These programs are
already funding thousands of new units with a focus on
affordability for middle-income residents.


Shifting to housing policy, we cover House Bill 6889, which would
implement “Just Cause Eviction” protections. While aimed at
protecting tenants, critics warn it could reduce rental housing
availability, increase homelessness, and discourage investment in
Connecticut’s rental markets.


On the national level, we discuss:


The 20th consecutive month of year-over-year rent declines
nationally, but warn of potential rent increases due to new steel
tariffs.


States like Florida and North Dakota considering the elimination
of property taxes — a controversial move that raises concerns
over funding essential services.


The rise in seller concessions nationwide as more homeowners
offer incentives to attract buyers amid higher mortgage rates and
increased housing supply.


Connecticut’s poor showing in Realtor.com’s 2025 State Report
Cards, earning an F for housing affordability and new home
construction — driven by restrictive zoning and high home prices.


We close by reminding listeners that understanding these local
and national trends is essential for making smart buying,
selling, and investment decisions in Connecticut’s evolving real
estate landscape.


If you're planning to buy or sell in the next 6-12 months, or
want to understand how today’s trends impact your situation, call
us at (203) 200-0933 or visit 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!