Is 06516, 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, 06516 has remained a Seller's Market.
Key Takeaway
06516 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 06516, CT
How much do homes in 06516, CT cost?
Median Sold Price
$320,000
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 06516 have sold for 11.3% more than they did a year ago.
Summary: The median home sold price in 06516 was $320,000 in March 2024, up 11.3% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $144.2K | $165K | +14.4% |
| 2 Bedrooms | $215K | $260K | +20.9% |
| 3 Bedrooms | $299.9K | $320K | +6.7% |
| 4 Bedrooms | $320K | $355K | +10.9% |
| 5+ Bedrooms | $386.2K | $425K | +10.0% |
Summary: 06516 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.4%, 2 bedroom homes increased by 20.9%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes increased by 10%.
Housing Supply in 06516, CT
How many homes are available in 06516, CT?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 108 | 123 | +13.9% |
Summary: The 06516 real estate market had 123 homes for sale in March 2024, a 13.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 6 | +500.0% |
| 2 Bedrooms | 15 | 17 | +13.3% |
| 3 Bedrooms | 52 | 58 | +11.5% |
| 4 Bedrooms | 17 | 19 | +11.8% |
| 5+ Bedrooms | 23 | 23 | 0.0% |
Summary: The 06516 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 500%, 2 bedroom homes increased by 13.3%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 35 | +59.1% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 06516, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 35 homes were sold or pending in 06516 in March 2024, up by 59.1% month-over-month. Of the 35 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% were sold over asking.
Days on Market for 06516, CT
We’re sorry, we don't have information for this market at the moment
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