Is Colchester, 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, Colchester has remained a Seller's Market.
Key Takeaway
Colchester is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Colchester, CT
How much do homes in Colchester, CT cost?
Median Sold Price
$399,900
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Colchester have sold for 14.3% more than they did a year ago.
Summary: The median home sold price in Colchester was $399,900 in March 2024, up 14.3% 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 | - | $322.7K | N/A |
| 2 Bedrooms | $200K | $190K | -5.0% |
| 3 Bedrooms | $350K | $397.5K | +13.6% |
| 4 Bedrooms | $436K | $469K | +7.6% |
| 5+ Bedrooms | $408.7K | $484.7K | +18.6% |
Summary: Colchester housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 5%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 18.6%.
Median Sold Price Compared To Nearby Cities
| Marlborough | $338.5K | $415K | +22.6% |
| Colchester | $350K | $399.9K | +14.3% |
| Hebron | $353.4K | $392.5K | +11.0% |
| Amston | $375K | $395K | +5.3% |
| Moodus | $302.5K | $280K | -7.4% |
Housing Supply in Colchester, CT
How many homes are available in Colchester, CT?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 43 | 50 | +16.3% |
Summary: The Colchester real estate market had 50 homes for sale in March 2024, a 16.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 6 | 7 | +16.7% |
| 3 Bedrooms | 25 | 29 | +16.0% |
| 4 Bedrooms | 6 | 9 | +50.0% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Colchester housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 16%, 4 bedroom homes increased by 50%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 10 | 12 | +20.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Colchester, you could pay more than the asking price. 58.3% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Colchester in March 2024, up by 20.0% month-over-month. Of the 12 sold homes, 17% were sold under asking, 25% were sold at asking, and 58% were sold over asking.
Days on Market for Colchester, CT
We’re sorry, we don't have information for this market at the moment
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