Is the Hamden Real Estate Market Slowing Down? Here’s What the Data Says

The real estate market in Hamden, Connecticut, is showing signs of balance after years of rapid appreciation and tight inventory. If you’re considering buying, selling, or investing in Hamden’s single-family housing market, understanding current trends is crucial. Here’s a deep dive into the latest numbers, what they mean, and how they affect you.

📊 Sales & Pricing: Slight Cooldown, But Still Competitive

In May 2025, the median sale price for a single-family home in Hamden was $365,000, representing a slight dip of 0.8% compared to the same time last year. The average sale price, however, rose by 2.7% to $407,528, suggesting that higher-end properties are still drawing strong interest.

Other key figures include:

• Average Price per Square Foot: $232 (+5.4% YoY)

• Number of Sales: 48 homes sold (down 9.4% YoY)

What it means:

Prices are holding steady with slight fluctuations, indicating a more measured, stable market rather than a sharp correction or overheated boom.

🔄 Market Activity: Volume Down, Opportunities Up?

While May was one of the busier months of the past year, it still trails behind the most active months like July 2024. The number of homes sold is lower than last year, but that could mean less competition for motivated buyers and an opportunity for sellers to price strategically.

📈 Buyer Demand: Still Strong, But More Disciplined

• Number of Sales: 48 (-9.4% YoY)

• Median Sale Price: $365,000 (-0.8% YoY)

• Over/Under Asking: Homes sold 5.3% over asking on average, unchanged from last year.

• Median Days on Market: 12 days (2 days faster than 2024)

Buyers are still aggressive when they see value, and quick to act, but they’re not chasing overpriced listings.

💵 Demand by Price Range: Where Are Buyers Focused?

Price Range	# of Sales	Median DOM	% Over Asking
$200k–$399k	89	15 days	3.85%
$400k–$599k	46	10 days	6.34%
$600k–$799k	9	25 days	5.51%
$800k–$999k	2	11 days	19.1% (!!)
$1.4M+	1	317 days	-6.25%

Takeaway:

Homes in the $400k–$599k range are hot, with strong competition. The luxury market, however, is moving slowly and often below asking.

📦 Inventory: Supply Inches Up But Still Tight

• New Listings: 70 (+16.7% YoY)

• New Pending Sales: 42 (-31.1% YoY)

• Active Listings: 54

• Months of Supply: 1.13 months

What is “Months of Supply”?

It’s how long it would take to sell all current inventory if no new homes were listed. A balanced market is 4–6 months. At 1.13 months, Hamden is still firmly in a seller’s market, though slightly less extreme than prior months.

📊 Inventory by Price Range

Price Range	Months of Supply
$200k–$399k	0.87
$400k–$599k	1.25
$600k–$799k	2.00

Lower and mid-priced homes remain scarce, keeping competition tight. Higher-end homes are slowly building inventory.

🏘 Housing Breakdown: What’s Selling?

• 3-Bed Homes: Most popular (100 sales), median price $350,000, avg. 20 DOM

• 4+ Beds: Median sale of $396,550, selling faster than smaller homes in some cases

• 2 or Fewer Beds: Least common and lower priced at $270,000 median

The sweet spot for buyers and sellers is the 3-bedroom home — affordable, quick to move, and in high demand.

📉 Price Drops: Strategic Adjustments

• 24% of current listings had a price drop

• Average Drop: 9%

• Most Price Drops: In the $400k–$599k range (35% of listings)

• Median Days Before Price Drop: 26

• Median Days from Price Drop to Pending: 14

Insight:

Sellers who overprice often must adjust within a month. Well-priced homes still move fast — sometimes in days — but pricing strategy matters more than ever.

🧠 Final Thoughts

Whether you’re entering the market as a buyer, seller, or investor, Hamden offers a mix of opportunity and competition:

• Sellers: It’s still your market, but overpricing will cost you. Strategic pricing leads to faster sales and better offers.

• Buyers: With slightly less competition than last year, now might be a good time to act before supply tightens again.

• Investors: Look to the $200k–$399k range for volume and liquidity. These homes sell quickly and appeal to a broad buyer pool.

💬 Need guidance buying, selling, or investing in Hamden? Contact us below — we’re here to help with home buying, selling, tenant placement, property management, and investment strategies tailored to your goals.