Connecticut Real Estate Market Weekly Insights (4-7-25)

In this episode of Connecticut Real Estate Market Weekly Insights, we break down the latest data and trends shaping the local and national housing markets. March 2025 saw the average single-family home price in Connecticut climb to over $604,000, up 11% from last year, while the number of homes sold dropped by 5.8%, reflecting tight inventory and affordability challenges. Homes continue to sell quickly, with a median of just 20 days on the market, and competition remains strong, especially in the luxury segment.

Spring and early summer are historically competitive in Connecticut, with June being the peak for bidding wars. Buyers waiting too long could pay thousands more, while homes under $200K are often selling below list price—revealing the differing pressures at both ends of the market. Sellers should note that price reductions typically come after a home sits unsold for weeks, emphasizing the importance of pricing strategically from the start.

The episode also explores interest rate trends, with 30-year fixed rates averaging 6.6%—a slight dip from the previous week. Locally, West Hartford’s new affordable housing development, The Camelot, is repurposing an old inn and restaurant to bring 44 units to residents earning as little as 30% of the area median income. The project is already 77% leased and supports statewide goals for affordable housing.

Legislatively, we examine a proposed bill targeting squatters, which would allow property owners to remove unauthorized occupants without a traditional eviction—raising red flags for tenant rights advocates.

On the national stage, the episode reviews projections for mortgage rates in 2025 (5.75%–7.25%), the rise in pending home sales in the South, and generational shifts in buying power, with baby boomers now the largest group of homebuyers. We also address misinformation about rising mortgage delinquencies—clarifying that issues are concentrated in FHA/VA loans and multifamily properties, not single-family homeowners.

The podcast closes by encouraging listeners considering buying or selling to reach out to Triniyah Real Estate for guidance, reminding them to subscribe for weekly updates.

If you’re interested in buying, selling, or renting real estate anywhere within the State of Connecticut, please visit our website to see how we can assist you!