Is 06716, CT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, 06716 has remained a Seller's Market.
Key Takeaway
06716 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 06716, CT
How much do homes in 06716, CT cost?
Median Sold Price
$351,500
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 06716 have sold for 13.2% more than they did a year ago.
Summary: The median home sold price in 06716 was $351,500 in May 2024, up 13.2% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $164.9K | $307.5K | +86.5% |
| 2 Bedrooms | $239.9K | $265K | +10.5% |
| 3 Bedrooms | $318K | $350K | +10.1% |
| 4 Bedrooms | $380K | $432.5K | +13.8% |
| 5+ Bedrooms | $395K | $421.2K | +6.6% |
Summary: 06716 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 86.5%, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 13.8%, and 5+ bedroom homes increased by 6.6%.
Housing Supply in 06716, CT
How many homes are available in 06716, CT?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 40 | 59 | +47.5% |
Summary: The 06716 real estate market had 59 homes for sale in May 2024, a 47.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 2 | +100.0% |
| 2 Bedrooms | 8 | 11 | +37.5% |
| 3 Bedrooms | 25 | 36 | +44.0% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The 06716 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 37.5%, 3 bedroom homes increased by 44%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 13 | +85.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 06716, you could pay more than the asking price. 76.9% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in 06716 in May 2024, up by 85.7% month-over-month. Of the 13 sold homes, 8% were sold under asking, 15% were sold at asking, and 77% were sold over asking.
Days on Market for 06716, CT
We’re sorry, we don't have information for this market at the moment
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