This week’s episode of The Triniyah Podcast: Connecticut Real Estate Market Weekly Insights breaks down the latest numbers and developments shaping the state’s real estate landscape.Connecticut Condo Market OverviewThe median condo sale price for September reached $313,930, up 8.3% year-over-year, while the average sale price hit $399,753, up 5.9%. The median days on market (DOM) was 19 days, four days longer than last year, signaling that while homes are still selling quickly, the pace has eased slightly. The average price per square foot rose 1.8% to $274.Condos continue to move fast, with listings between $200K–$599K averaging about 2.1% over asking and going under contract in 15–22 days. The $800K–$999K range led the pack at 4.4% over asking, while ultra-luxury and entry-level condos often sold below list price. These dynamics show strong mid-market demand and selective high-end activity.Inventory and Pricing TrendsConnecticut’s condo months of supply now sits at 1.48, underscoring a tight seller’s market. New listings rose 2.3%, while new pendings slipped 4.6%, suggesting a modest inventory buildup. Roughly 1,099 condos are active statewide with 651 under contract. Supply varies sharply by price tier—ranging from 1.3–1.9 months in most brackets to 9.0 months at the $3M+ level.Price drops are common: 32% of active listings have reduced their price, averaging a 5% cut after 46 days on market. Sellers who adjust promptly typically go under contract again within 19 days. This emphasizes the importance of early, data-driven pricing decisions to avoid stagnation.Market TakeawaysDespite minor cooling, Connecticut’s condo market remains highly competitive. Prices and buyer activity are elevated versus last year, though bidding intensity has softened. Sellers benefit from realistic pricing and presentation, while buyers can find leverage in higher-supply price ranges. Market conditions continue to favor sellers overall, but balance is slowly returning.Local News HighlightsMeriden Subdivision Halted: The proposed Cardinal Crest development was paused due to failed fire-flow tests, leaving 27 planned homes on hold until the developer can resolve water-supply issues.Amazon Fulfillment Center: Construction is underway on a 3.2-million-square-foot facility spanning Waterbury and Naugatuck. Expected to create 1,000 permanent jobs and 300 construction jobs, the project brings major economic benefits while raising local environmental and traffic concerns.National Real Estate UpdatesDown Payment Trends: Average down payments in Q3 2025 held at 14.4% of purchase price, with a median of $30,400, showing stability after pandemic-era increases. The Northeast led with an 18.2% average down payment.Mortgage Applications: The MBA reported a 0.3% overall dip in applications, with purchases down 5% and refinances up 4%. ARM applications rose 16%, reflecting interest in lower-rate alternatives.Mortgage Rates: 30-year fixed rates averaged 6.19%, with FHA and VA loans near 5.95–5.97%.Builder Confidence: The NAHB index rose to 37, showing slight improvement in sentiment despite continued affordability challenges. About 38% of builders reduced prices by an average of 6% to stimulate demand.OutlookNationally, analysts expect modest improvement in 2026 as more homeowners feel comfortable selling, easing inventory shortages and creating a healthier, more balanced market. In Connecticut, localized variations will remain key—buyers and sellers should focus on neighborhood-level trends, comparable sales, and supply dynamics to guide their next move.
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