Is 06040, CT a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 06040 is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, 06040 has remained a Seller's Market.

Key Takeaway

06040 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 06040, CT

How much do homes in 06040, CT cost?

Median Sold Price

$295,000

$178/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$30,000(+11.3%)

Key Takeaway

Homes in 06040 have sold for 11.3% more than they did a year ago.

Summary: The median home sold price in 06040 was $295,000 in February 2024, up 11.3% from last year, and the median price per square foot was $178.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $80K$93K
+16.3%
2 $185K$202K
+9.2%
3 $260K$290K
+11.5%
4 $322K$340K
+5.6%
5+ $305K$372.5K
+22.1%

Summary: 06040 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.3%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 22.1%.

Median Sold Price Compared To Nearby Zip Codes

06042
+11.6%
06040
+11.3%
06033
+9.8%
06108
+8.8%

Housing Supply in 06040, CT

How many homes are available in 06040, CT?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
7673-3.9%

Summary: The 06040 real estate market had 73 homes for sale in February 2024, a 3.9% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 13
+200.0%
2 109
-10.0%
3 3133
+6.5%
4 2421
-12.5%
5+ 107
-30.0%

Summary: The 06040 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 6.5%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes decreased by 30%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
2120-4.8%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

16 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 06040, you could pay more than the asking price. 80% of homes here sold above asking price last month.

Summary: A total of 20 homes were sold or pending in 06040 in February 2024, down by 4.8% month-over-month. Of the 20 sold homes, 15% were sold under asking, 5% were sold at asking, and 80% were sold over asking.

Days on Market for 06040, CT

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in 06040, CT

Nearby Markets to 06040, CT