Is 06488, 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, 06488 has remained a Seller's Market.
Key Takeaway
06488 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 06488, CT
How much do homes in 06488, CT cost?
Median Sold Price
$349,750
$225/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 06488 have sold for 1.3% more than they did a year ago.
Summary: The median home sold price in 06488 was $349,750 in March 2024, up 1.3% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $183K | $214.9K | +17.4% |
| 2 Bedrooms | $268K | $276.5K | +3.2% |
| 3 Bedrooms | $405K | $440K | +8.6% |
| 4 Bedrooms | $609K | $642.5K | +5.5% |
| 5+ Bedrooms | $645K | $867.5K | +34.5% |
Summary: 06488 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.4%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes increased by 34.5%.
Housing Supply in 06488, CT
How many homes are available in 06488, CT?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 89 | 98 | +10.1% |
Summary: The 06488 real estate market had 98 homes for sale in March 2024, a 10.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 5 | -37.5% |
| 2 Bedrooms | 37 | 41 | +10.8% |
| 3 Bedrooms | 21 | 24 | +14.3% |
| 4 Bedrooms | 20 | 25 | +25.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 06488 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 37.5%, 2 bedroom homes increased by 10.8%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 18 | 28 | +55.6% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 06488, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.
Summary: A total of 28 homes were sold or pending in 06488 in March 2024, up by 55.6% month-over-month. Of the 28 sold homes, 39% were sold under asking, 18% were sold at asking, and 43% were sold over asking.
Days on Market for 06488, CT
We’re sorry, we don't have information for this market at the moment
Copyright © 2024 Smart MLS. The data relating to real estate for sale on this website appears in part through the SMARTMLS Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by SMARTMLS through a licensing agreement. Listing information is from various brokers who participate in the SMARTMLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed.
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.