NEW HAVEN COUNTY HOME SALES UP 3.4% IN 2021

The New Haven Middlesex Association of REALTORS® (NHMR) reports that sales of single-family homes in New Haven County increased 3.4% in 2021 compared to 2020. Total units sold were 8,969 in 2021 compared to 8,675 in 2020. The median sales price of $300,000 for 2021 represents a 13.2% increase from $265,000 in 2020. The median price indicates that half the homes sold for more and half for less.

Homes were still selling quickly, with the number of days on the market continuing to drop. In 2021, single family homes were on the market for an average of 40 days, selling 29.8% faster than 2020, which saw an average of 70 days on the market. Year over year, homes sold 18.6% faster in 2020, with an average of 57 days on the market.

Inventory remained in short supply in 2021, with the number of new listings of single-family homes dropping -3.6% to 10,070 compared to 10,443 in 2020.

Condominium sales for New Haven County comparing 2021 to 2020 shows that the number of unit sales increased 12.6% from 2,480 in 2020 to 2,793 in 2021. The median sales price for condominiums increased 13.2% from $159,000 to $180,000. The condominium inventory saw a slight uptick, with 3,062 new listings in 2021, a 6.4% increase over 2020.

“Area home sales have remained strong throughout the pandemic,” said Tom Clancy, President of New Haven Middlesex Realtors. “Strong buyer demand, a lack of inventory and favorable interest rates have made this a very good time for homeowners to sell.”

Data was provided from reports generated from SmartMLS multiple listing service.