Updated: May 12
If you’ve been wondering what’s really happening in the Connecticut housing market, the latest data paints a compelling picture. From rising buyer demand to shrinking price reductions, April 2025 shows a market that is warming up fast after a slower winter season. Here's what the numbers say—and what buyers and sellers need to know.
Buyer Demand Is Reigniting This Spring
After a quieter winter, buyer competition has picked up steam. In April 2025, single-family homes in Connecticut sold for an average of 3.59% over the asking price. That’s a noticeable jump from 1.13% in February and 2.42% in March, signaling the return of bidding wars in many towns across the state.
This isn’t just a random spike—it's a familiar seasonal trend. Looking back at the past two years, homes consistently sold for the most over asking between May and July, when buyer activity peaks and inventory tightens. For sellers, this is the prime time to list. For buyers, it means acting quickly and putting forward strong offers is more important than ever.
Homes Are Selling Faster—Median Days on Market Drops to 15
Another key indicator of a hot market is how quickly homes go under contract. In April 2025, the median days on market was just 15 days, meaning half of all homes listed went under contract in just over two weeks. That’s down from 29 days in January and 25 in February, showing a clear acceleration in buyer activity.
When you compare that to last spring—April 2024 also had a median DOM of 16—it’s clear we’ve returned to that familiar spring surge. The window to secure a home is tightening, and well-priced homes are moving fast.
Market Activity by Price Range: Where Are Homes Moving Fastest?
When broken down by price range, the $400K–$599K and $200K–$399K segments had the most activity and the shortest time on market, with median days on market at 18 and 19 respectively. Homes in these ranges also sold for 2.47% and 1.95% over asking.
Even the $600K–$799K bracket is seeing fast movement with homes selling in just 20 days and for 2.69% above asking. Interestingly, homes priced between $1.2M and $1.39M had the highest percent over asking at 4.1%, showing that competitive offers aren’t limited to the lower end of the market.
Price Drops Are Becoming Less Frequent and Less Severe
Of the 3,382 active listings across the state, only 23% had a price drop, with an average reduction of 9%. That percentage is much lower in the most in-demand ranges. For example, homes priced between $400K and $599K had a 25% price drop rate, but the reductions averaged just 6%.
The steepest average price drops were seen in listings under $200K—at 15%—and in the luxury market above $1.4M, where sellers trimmed prices by up to 12%. Still, those reductions are getting smaller. The average price cut in Q2 2025 is just 6.8%, the lowest in over two years.
This indicates two things: sellers are getting better at pricing homes correctly out of the gate, and increased buyer demand is helping listings move before significant price drops are needed.
Price Drops Still Work—And Work Quickly
When sellers do reduce their price, it helps. In the last 90 days, homes that took a price cut went under contract in a median of just 21 days. That’s a big improvement from 33 days in January and 25 days in March.
The trend is clear—price drops are more effective in spring when more buyers are actively shopping. A well-timed reduction can draw fresh attention to a stale listing and get it sold quickly.
The Bottom Line: Momentum is Back on the Side of Sellers
Across nearly every metric, the Connecticut real estate market is heating up. Homes are selling faster, often above asking, and sellers are making fewer and smaller price reductions. If you’ve been thinking about selling, now is a great time to list while buyer competition is high and inventory remains tight.
On the flip side, if you’re buying, come prepared. Work with a local expert, get pre-approved, and move quickly when you find the right home—because chances are, someone else is ready to compete for it too.
