Connecticut Real Estate Market Weekly Insights (2-24-25)

In this week’s episode of Connecticut Real Estate Market
Weekly Insights, we break down the latest real estate trends
across the state and discuss their impact on buyers, sellers, and
investors. From increasing home values to shifting market
dynamics, we analyze the key takeaways from January 2024 to
January 2025 and preview what’s ahead for February.


Key Topics Covered:


Connecticut Housing Market Update



Single-family home values rose
7.9% over the past year, benefiting homeowners
but increasing costs for buyers.


Inventory increased by 1.1%, providing
slightly more options for buyers, but the market remains tight.


Pending home sales were up
0.4%, while closed sales declined by
1.2%, suggesting affordability challenges.


Homes are selling fast—the median days
on the market is just 10 days, down 28.6%.


Sellers still hold the advantage, with homes
selling at 101.5% of the asking price, though
bidding wars are slightly less intense.


The current supply is only 2.2 months, keeping
Connecticut in a seller’s market.



Interest Rates Update



30-year fixed mortgage: 6.89%


15-year fixed mortgage: 6.37%


30-year FHA loan: 6.25%


30-year VA loan: 6.28%

All rates decreased from the previous week,
offering buyers some relief.



Local Connecticut Real Estate News



Waterbury joins Connecticut’s new Municipal
Redevelopment Authority (MRDA) to spur urban renewal
and housing development.


Connecticut’s residential vacancy rate is only
0.56%, one of the lowest in the country, fueling price
increases.


Proposed changes to landlord-tenant laws—new
bills could end no-fault evictions, limit security
deposits, and change screening rules for tenants with criminal
records.



National Housing Market Trends


The total value of U.S. homes increased $2.5
trillion in 2024, reaching $49.7
trillion—the slowest growth since 2019.


Upstate New York leads in home value growth,
while some Florida markets experience declines due to increased
supply and insurance costs.


Millennials now own over 20% of the U.S. housing
market, with their collective home value rising
18.8% year-over-year.


Homebuilding dropped 8.4% in January 2025,
mostly due to winter weather disruptions and higher
construction costs.


Selling off the MLS could cost sellers
thousands—on average, properties sold privately went
for $4,975 less than MLS-listed homes.



Builder Confidence & Market Forecasts



Home builder confidence fell due to
higher mortgage rates, trade tariffs, and affordability
challenges.


26% of builders cut home prices in February,
showing increased efforts to attract buyers.


Despite more homes on the market, prices are still
rising due to continued buyer competition.



Final Thoughts:


This week’s episode underscores that Connecticut remains a
seller’s market, with home values continuing to
rise despite a slight increase in inventory. Buyers must act
quickly, while sellers can capitalize on strong demand. With
proposed housing policy changes and shifting economic factors on
the horizon, it’s essential to stay informed.


Thinking of buying or selling in Connecticut?
Call us at (203) 200-0933 or visit
Triniyah.com for expert guidance on navigating
today’s market.


Tune in next Monday for another Connecticut
Real Estate Market Weekly Insights update.


Don’t forget to subscribe, share, and leave a
review!


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!