Connecticut Real Estate Market Weekly Insights (4-7-25)

In this episode of Connecticut Real Estate Market Weekly
Insights, we break down the latest data and trends shaping
the local and national housing markets. March 2025 saw the
average single-family home price in Connecticut climb to over
$604,000, up 11% from last year, while the number of homes sold
dropped by 5.8%, reflecting tight inventory and affordability
challenges. Homes continue to sell quickly, with a median of just
20 days on the market, and competition remains strong, especially
in the luxury segment.


Spring and early summer are historically competitive in
Connecticut, with June being the peak for bidding wars. Buyers
waiting too long could pay thousands more, while homes under
$200K are often selling below list price—revealing the differing
pressures at both ends of the market. Sellers should note that
price reductions typically come after a home sits unsold for
weeks, emphasizing the importance of pricing strategically from
the start.


The episode also explores interest rate trends, with 30-year
fixed rates averaging 6.6%—a slight dip from the previous week.
Locally, West Hartford’s new affordable housing development, The
Camelot, is repurposing an old inn and restaurant to bring 44
units to residents earning as little as 30% of the area median
income. The project is already 77% leased and supports statewide
goals for affordable housing.


Legislatively, we examine a proposed bill targeting squatters,
which would allow property owners to remove unauthorized
occupants without a traditional eviction—raising red flags for
tenant rights advocates.


On the national stage, the episode reviews projections for
mortgage rates in 2025 (5.75%–7.25%), the rise in pending home
sales in the South, and generational shifts in buying power, with
baby boomers now the largest group of homebuyers. We also address
misinformation about rising mortgage delinquencies—clarifying
that issues are concentrated in FHA/VA loans and multifamily
properties, not single-family homeowners.


The podcast closes by encouraging listeners considering buying or
selling to reach out to Triniyah Real Estate for guidance,
reminding them to subscribe for weekly updates.


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!