Connecticut Real Estate Market Weekly Insights (2-17-25)

The Connecticut real estate market remains competitive, with home
values increasing by an average of 7.9% year over year. Inventory
has slightly improved, with a 1.1% increase in available homes,
but the market remains a seller’s advantage with just 2.2 months
of supply. We explore the latest trends, including a dip in
closed sales, the average days on the market dropping to just 10
days, and homes still selling at an average of 101.5% of their
listing price.


We also take a deep dive into pressing policy discussions,
including the controversial House Bill 5429, which would
require a public vote before towns can sell or transfer public
land. Supporters see it as a way to protect green spaces, while
opponents argue it could slow development. Additionally, we
discuss the ongoing crisis of crumbling foundations caused by a
faulty concrete mix, the state’s efforts to fund repairs, and
what it means for homeowners.


For first-time homebuyers, we analyze House Bill 6876,
which proposes tax-deductible homeownership savings accounts to
help ease the burden of down payments. We also highlight major
development projects in Middletown and Newington, including
mixed-use communities and revitalization efforts.


On a national scale, we assess how Connecticut's market trends
align with broader economic factors, including mortgage rates,
inflation, and the lock-in effect keeping homeowners from
selling. With mortgage rates averaging 6.96% for 30-year loans,
we explore how rising borrowing costs are impacting
affordability, inventory, and buyer demand.


Whether you're looking to buy, sell, or stay informed on market
trends, this episode provides the insights you need to navigate
Connecticut's evolving real estate landscape.


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!