This episode of The Triniyah Podcast breaks down the latest trends in the Connecticut housing market, focusing on sales, pricing, buyer demand, and inventory across five key counties. It also covers rising rents, flood insurance uptake, and national mortgage rate movements that could shape local real estate activity.
In this week’s Connecticut Real Estate Market Weekly Insights, we take a deep dive into single-family home trends across New Haven, Hartford, Middlesex, Fairfield, and Litchfield Counties. Over the past year, combined sales in these counties rose 2.4% to 2,406 homes, with Fairfield and Hartford leading the volume. Median prices continue to climb in all five counties, ranging from the low $400,000s in New Haven and Hartford to $810,000 in Fairfield. July’s snapshot shows notable year-over-year gains in both sales and prices for most counties, with Hartford homes selling fastest at a median of 10 days on market. Buyer demand remains strongest in the $300,000–$699,000 range, while inventory is exceptionally tight, with a total supply of just 1.39 months and some towns under half a month of available homes.
The episode also spotlights July’s top-selling cities, including Stamford, West Hartford, and Waterbury, with Manchester seeing an impressive 82.8% year-over-year surge. On the rental side, Connecticut is experiencing sharp rent increases—Hamden’s up 22% annually—while some towns, even after adding new units, remain extremely low in vacancies. The discussion highlights growing concerns over affordability and homelessness.
In addition, flood insurance uptake barely increased following the devastating 2024 floods, with just 83 new NFIP policies statewide despite significant damage in affected areas. We also review national housing market developments, including a drop in mortgage rates to their lowest point in 10 months, the potential for rates to near the 6% threshold, and the unusual reversal where existing homes now sell for more than new builds due to tight resale inventory. These shifts may create a short-term opportunity for buyers to lock in lower payments before conditions change.