Home sales in the state of Connecticut in July 2019 were down 6 percent from last July. On average, homes sell for about 2 percent below their asking price. The typical home that sold last month sold for $314,000, which is 3 percent less than the year before.
At the same time, the number of homes for sale is declining by 4 percent over the year. They also took an average of 63 days to come off the market—which is about the same time as last year.
Sales are still strong in 2019, although the spring real estate market didn’t hit with the strength of previous years.
After dropping to a record low of 33 days in 2018, Connecticut home marketing time slowed to 63 days in 2019.
Connecticut homeowners, you have an excellent opportunity to sell your home this season — if you have the right pricing strategy in place from the start! Studies show that the longer a property stays on the market, the less the seller will net upon the sale.
It is very important to price your property at competitive market value at the signing of your listing contract. In some places, the market is so competitive that even over-pricing by a few thousand dollars could mean that your house will not sell. And in some of today’s particularly hot markets where we’re seeing bidding wars, you still want to work with your real estate professional to set the right starting price from the outset to give yourself every advantage.
Connecticut Market Statistics July 2019
These statistics are for Single Family homes across the state of Connecticut.
Data provided by Redfin, a national real estate brokerage.