Is Gales Ferry, 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, Gales Ferry has remained a Seller's Market.
Key Takeaway
Gales Ferry is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Gales Ferry, CT
How much do homes in Gales Ferry, CT cost?
Median Sold Price
$345,000
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Gales Ferry have sold for 7.8% more than they did a year ago.
Summary: The median home sold price in Gales Ferry was $345,000 in March 2024, up 7.8% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $73.2K | $75K | +2.4% |
| 2 Bedrooms | $133.4K | $160K | +19.9% |
| 3 Bedrooms | $307.5K | $325K | +5.7% |
| 4 Bedrooms | $357K | $395.4K | +10.8% |
| 5+ Bedrooms | $365.2K | $437.5K | +19.8% |
Summary: Gales Ferry housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.4%, 2 bedroom homes increased by 19.9%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 10.8%, and 5+ bedroom homes increased by 19.8%.
Median Sold Price Compared To Nearby Cities
| Uncasville | $260K | $294.9K | +13.4% |
| Ledyard | $320K | $350K | +9.4% |
| Gales Ferry | $320K | $345K | +7.8% |
| Quaker Hill | $305K | $314.5K | +3.1% |
Housing Supply in Gales Ferry, CT
How many homes are available in Gales Ferry, CT?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 24 | 22 | -8.3% |
Summary: The Gales Ferry real estate market had 22 homes for sale in March 2024, a 8.3% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 11 | 10 | -9.1% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Gales Ferry 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 remained the same, 3 bedroom homes decreased by 9.1%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 12 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gales Ferry, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Gales Ferry in March 2024, up by 100.0% month-over-month. Of the 12 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for Gales Ferry, CT
We’re sorry, we don't have information for this market at the moment
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