Is 06877, CT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, 06877 has remained a Seller's Market.
Key Takeaway
06877 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 06877, CT
How much do homes in 06877, CT cost?
Median Sold Price
$900,000
$340/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 06877 have sold for 4.8% more than they did a year ago.
Summary: The median home sold price in 06877 was $900,000 in May 2024, up 4.8% from last year, and the median price per square foot was $340.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $242K | $320.7K | +32.5% |
| 2 Bedrooms | $428K | $600K | +40.2% |
| 3 Bedrooms | $675K | $770K | +14.1% |
| 4 Bedrooms | $1.0M | $1.0M | +4.5% |
| 5+ Bedrooms | $1.5M | $1.5M | +2.0% |
Summary: 06877 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 32.5%, 2 bedroom homes increased by 40.2%, 3 bedroom homes increased by 14.1%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 2%.
Housing Supply in 06877, CT
How many homes are available in 06877, CT?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 109 | 127 | +16.5% |
Summary: The 06877 real estate market had 127 homes for sale in May 2024, a 16.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 8 | +33.3% |
| 2 Bedrooms | 16 | 15 | -6.3% |
| 3 Bedrooms | 20 | 24 | +20.0% |
| 4 Bedrooms | 44 | 58 | +31.8% |
| 5+ Bedrooms | 23 | 22 | -4.3% |
Summary: The 06877 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 6.3%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 31.8%, and 5+ bedroom homes decreased by 4.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 17 | 34 | +100.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 06877, you could pay more than the asking price. 64.7% of homes here sold above asking price last month.
Summary: A total of 34 homes were sold or pending in 06877 in May 2024, up by 100.0% month-over-month. Of the 34 sold homes, 18% were sold under asking, 18% were sold at asking, and 65% were sold over asking.
Days on Market for 06877, CT
How long does it take to sell a home in 06877, CT?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 21 Days | 139 Days | +561.9% |
Summary: Homes in 06877 had an average of 139 days on market in May 2024, up by 561.9% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in 06877 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 34 homes were sold in 06877; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
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