In this episode of Connecticut Real Estate Market Weekly Insights, we explore the latest data shaping Connecticut’s housing landscape. The multi-family sector continues to show resilience, with 271 sales in July 2025, a 5% increase from last year. Median prices rose nearly 10% to $430,000, while the average jumped more than 18% to $466,961, influenced by higher-end property activity. Days on Market dropped 15% year-over-year to just 11, reflecting strong buyer demand and faster sales. Buyers are still competing, with many properties selling above asking price, particularly in the $500,000–$999,000 range, which saw significant sales growth.On the local front, we cover major development stories:New Britain: A $48,000+ square-foot downtown building is being converted into 79 apartments with a restaurant and rooftop bar.Cheshire: A controversial mixed-use proposal combining cold storage, industry, restaurants, and workforce housing has stirred community opposition despite potential tax revenue and economic benefits.New Haven (Newhallville): A plan for 19 affordable homes was delayed after residents expressed concerns over loss of community green spaces and insufficient engagement in planning.Nationally, we discuss how July marked the 24th consecutive month of rent declines across major metros, with studios, one-bedrooms, and two-bedrooms all seeing year-over-year drops. Meanwhile, mortgage application volume jumped nearly 11%, driven largely by refinances as interest rates dipped, while purchase activity showed only modest improvement.Whether you are a buyer, seller, or investor, these insights help frame both the opportunities and challenges in today’s market.
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