January 2021 Connecticut Real Estate Market Update

January 2021 Connecticut Real Estate Market Update

Here is your January 2021 Connecticut Real Estate Market Update as well as Southbury and the surrounding area.

With mortgage rates below 3% for 30 year fixed rate loans this is keeping homebuyers in the market this winter. We are not seeing the typical real estate market slowdown here in Connecticut because of this.

In Connecticut single family home sales are up +20.2% year to date, the median sales price is up +20.8% at $320,00 the median days on the market for single family homes is at 33 days and we are at a 2.1 months supply of inventory here in Connecticut.

For reference, a ‘balanced’ market as having four to six months of available inventory at any given time.

Also, the Month Supply of Inventory is different in each town as well so don’t be too surprised if your town has a higher or lower number Month Supply of Inventory compared to the statewide number.

The demand is still high right now and the market can’t keep up with the demand. If you are planning on selling your home take advantage of this winter with the housing inventory being so low your home will get the most exposure with the high buyer demand we have this winter instead of waiting until the spring when more sellers are to come onto the market. 

Real Estate Market Report For Southury, CT And Surrounding Towns

Here is your local market report in my area for Southbury, Newtown, Woodbury and Middlebury and Oxford for the month of December for single family homes. 

Southbury, CT

  •  Active Homes For Sale: 17
  •  Single Family Homes Sold: 26
  •  Median Days On Market: 49 Days
  •  Median Sales Price: $420,000
  •  Months Supply of Inventory: 1.6 Months

Newtown, CT

  • Active Homes For Sale: 39
  • Single Family Homes Sold: 66
  • Median Days On Market: 53 Days
  • Median Sales Price: $482,000
  • Months Supply of Inventory: 2.1 Months

Woodbury, CT

  • Active Homes For Sale: 26
  • Single Family Homes Sold: 10
  • Median Days On Market: 63 Days
  • Median Sales Price: $400,400
  • Months Supply of Inventory: 4.0 Months

Middlebury, CT

  • Active Homes For Sale: 18
  • Single Family Homes Sold: 7
  • Median Days On Market: 55 Days
  • Median Sales Price: $342,900
  • Months Supply of Inventory: 4.5 Months

Oxford, CT

  • Active Homes For Sale: 20
  • Single Family Homes Sold: 16
  • Median Days On Market: 37 Days
  • Median Sales Price: $403,000
  • Months Supply of Inventory: 2.5 Months

Let’s Talk Today

As you can see inventory is low buy buyer demand is still high this winter. If you are planning to sell this winter would be a great to do get your home on the market to get the most exposure for your house. If you have any questions or want to learn more about what’s happening in your local market you can always reach out to me if you are planning on buying or selling a home.

I am committed to the real estate market to make sure you have all the information you need to make your next move. Review all the information I have put together for you here on my website. If you would like more information on any issues of concern as well please contact me. I look forward to hearing from you. Have a great day.  

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