Is 06516, CT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, 06516 has remained a Seller's Market.
Key Takeaway
06516 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 06516, CT
How much do homes in 06516, CT cost?
Median Sold Price
$324,833
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 06516 have sold for 12% more than they did a year ago.
Summary: The median home sold price in 06516 was $324,833 in May 2024, up 12% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150K | $166.9K | +11.3% |
| 2 Bedrooms | $227K | $260K | +14.5% |
| 3 Bedrooms | $300K | $326.1K | +8.7% |
| 4 Bedrooms | $322K | $365K | +13.4% |
| 5+ Bedrooms | $376K | $435K | +15.7% |
Summary: 06516 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.3%, 2 bedroom homes increased by 14.5%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 13.4%, and 5+ bedroom homes increased by 15.7%.
Housing Supply in 06516, CT
How many homes are available in 06516, CT?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 125 | 142 | +13.6% |
Summary: The 06516 real estate market had 142 homes for sale in May 2024, a 13.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 8 | +33.3% |
| 2 Bedrooms | 23 | 26 | +13.0% |
| 3 Bedrooms | 55 | 72 | +30.9% |
| 4 Bedrooms | 19 | 16 | -15.8% |
| 5+ Bedrooms | 22 | 20 | -9.1% |
Summary: The 06516 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 13%, 3 bedroom homes increased by 30.9%, 4 bedroom homes decreased by 15.8%, and 5+ bedroom homes decreased by 9.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 30 | 41 | +36.7% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 06516, you could pay more than the asking price. 68.3% of homes here sold above asking price last month.
Summary: A total of 41 homes were sold or pending in 06516 in May 2024, up by 36.7% month-over-month. Of the 41 sold homes, 24% were sold under asking, 7% were sold at asking, and 68% were sold over asking.
Days on Market for 06516, CT
We’re sorry, we don't have information for this market at the moment
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