Is 06416, CT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 06416 has remained a Seller's Market.
Key Takeaway
06416 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 06416, CT
How much do homes in 06416, CT cost?
Median Sold Price
$303,000
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 06416 have sold for 20.2% more than they did a year ago.
Summary: The median home sold price in 06416 was $303,000 in March 2024, up 20.2% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $131.7K | $148K | +12.3% |
| 2 Bedrooms | $213.9K | $230K | +7.5% |
| 3 Bedrooms | $337.5K | $350.2K | +3.8% |
| 4 Bedrooms | $426.5K | $470K | +10.2% |
| 5+ Bedrooms | $428.5K | $727.5K | +69.8% |
Summary: 06416 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.3%, 2 bedroom homes increased by 7.5%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 10.2%, and 5+ bedroom homes increased by 69.8%.
Housing Supply in 06416, CT
How many homes are available in 06416, CT?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 44 | 45 | +2.3% |
Summary: The 06416 real estate market had 45 homes for sale in March 2024, a 2.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 2 | +100.0% |
| 2 Bedrooms | 11 | 14 | +27.3% |
| 3 Bedrooms | 23 | 21 | -8.7% |
| 4 Bedrooms | 8 | 6 | -25.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 06416 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 27.3%, 3 bedroom homes decreased by 8.7%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 13 | +44.4% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 06416, you could pay more than the asking price. 69.2% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in 06416 in March 2024, up by 44.4% month-over-month. Of the 13 sold homes, 23% were sold under asking, 8% were sold at asking, and 69% were sold over asking.
Days on Market for 06416, CT
We’re sorry, we don't have information for this market at the moment
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