Is Cromwell, 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, Cromwell has remained a Seller's Market.
Key Takeaway
Cromwell is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cromwell, CT
How much do homes in Cromwell, CT cost?
Median Sold Price
$292,500
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cromwell have sold for 7.3% more than they did a year ago.
Summary: The median home sold price in Cromwell was $292,500 in May 2024, up 7.3% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $135K | $148K | +9.6% |
| 2 Bedrooms | $215K | $230K | +7.0% |
| 3 Bedrooms | $349K | $355.5K | +1.9% |
| 4 Bedrooms | $428K | $500K | +16.8% |
| 5+ Bedrooms | $428.5K | $727.5K | +69.8% |
Summary: Cromwell housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.6%, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 1.9%, 4 bedroom homes increased by 16.8%, and 5+ bedroom homes increased by 69.8%.
Median Sold Price Compared To Nearby Cities
| Rocky Hill | $304.1K | $345.1K | +13.5% |
| Cromwell | $272.5K | $292.5K | +7.3% |
| Middletown | $280.8K | $295.5K | +5.2% |
| Portland | $330K | $324K | -1.8% |
Housing Supply in Cromwell, CT
How many homes are available in Cromwell, CT?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 58 | 76 | +31.0% |
Summary: The Cromwell real estate market had 76 homes for sale in May 2024, a 31.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 6 | +100.0% |
| 2 Bedrooms | 22 | 27 | +22.7% |
| 3 Bedrooms | 23 | 28 | +21.7% |
| 4 Bedrooms | 9 | 13 | +44.4% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Cromwell 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 22.7%, 3 bedroom homes increased by 21.7%, 4 bedroom homes increased by 44.4%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 20 | +81.8% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cromwell, you could pay more than the asking price. 65% of homes here sold above asking price last month.
Summary: A total of 20 homes were sold or pending in Cromwell in May 2024, up by 81.8% month-over-month. Of the 20 sold homes, 25% were sold under asking, 10% were sold at asking, and 65% were sold over asking.
Days on Market for Cromwell, CT
We’re sorry, we don't have information for this market at the moment
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