Is 06424, CT a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 06424 is a neutral's market

Buyer's
Market

Difference Since February 2023

At the same time last year, 06424 was a Seller's Market.

Key Takeaway

06424 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 06424, CT

How much do homes in 06424, CT cost?

Median Sold Price

$348,250

$202/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$750(-0.2%)

Key Takeaway

The sold price of homes in 06424 has remained the same since last year.

Summary: The median home sold price in 06424 was $348,250 in February 2024, down 0.2% from last year, and the median price per square foot was $202.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $174K$200K
+14.9%
2 $215K$217.7K
+1.3%
3 $347.7K$352.2K
+1.3%
4 $455.5K$430K
-5.6%
5+ $310K$659K
+112.6%

Summary: 06424 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.9%, 2 bedroom homes increased by 1.3%, 3 bedroom homes increased by 1.3%, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes increased by 112.6%.

Median Sold Price Compared To Nearby Zip Codes

06469
+2.8%
06424
-0.2%
06480
-5.0%

Housing Supply in 06424, CT

How many homes are available in 06424, CT?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
3638+5.6%

Summary: The 06424 real estate market had 38 homes for sale in February 2024, a 5.6% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 20
-100.0%
2 79
+28.6%
3 1516
+6.7%
4 811
+37.5%
5+ 42
-50.0%

Summary: The 06424 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 28.6%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
106-40.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 06424, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 6 homes were sold or pending in 06424 in February 2024, down by 40.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 33% were sold at asking, and 50% were sold over asking.

Days on Market for 06424, 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 28 Days Ago

Newest Listings in 06424, CT

Nearby Markets to 06424, CT