Connecticut Real Estate Market in 2022: Forecasts + Trends

Clever Real Estate

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Clever Real Estate

June 9th, 2022
Updated June 9th, 2022

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Connecticut real estate trends

Real estate trends in Connecticut | Sellers | Buyers | Investors | The best and worst of Connecticut | Connecticut resources

Connecticut real estate trends (May 2022)

How is the real estate market in Connecticut?
🏠 Average home value: $356,628
📈 1.32% home value increase month over month
💰 Median sale price: $420,700
⏳ 47 days on the market
🔑 Homes on the market: 4,978
📆 0.6 months of housing inventory
🏦 30-year mortgage rate: 5.35000%
💵 Average income: 78444
State of the market: B-
The market in Connecticut continues to maintain its momentum — inventory is low and homes continue to sell quickly, but the home values are leveling off and may cool the market.
*Data last updated May 2022

With rolling Appalachian mountains in the west and a rocky shoreline along the Long Island Sound, Connecticut's landscape has shaped its unique New England charm.

Residents enjoy spectacularly colorful foliage every autumn and rich local lore dating back to the Revolutionary War. Plus, the state's proximity to New York City makes it a popular choice for thousands of daily commuters.

Beyond its popularity with professionals, Connecticut's walkable communities and excellent public schools make it a great choice for families.

If you're thinking of buying or selling in Connecticut, these Connecticut housing predictions and stats can help you make an informed decision.

Want to save money when you buy or sell your home? With Clever, you'll only pay 1% or $3K in listing fees. Eligible buyers get 0.5% cash back after closing. Find out how much you can save with Clever today!

Selling a home in Connecticut

Connecticut real estate market forecast for sellers
⏰ Homes are selling 24 days faster than the annual average
💰 Homes are selling for $33,150 more than the annual average
💸 Average listing commission: 2.60%
💸 Average buyer's commission: 2.80%

How to sell a home in Connecticut

Cost to sell a home in Connecticut

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List with the best agents in your area for just $3,000 or 1%. On average, Clever sellers save $9,000 on commission!

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Buying a home in Connecticut

How much home you can buy with $300,000 in...
🏠 Hartford: 1,471 sq ft
🏡 New Haven: 1,364 sq ft

Investing in Connecticut real estate

Best of Connecticut

💡 Did you know…

Hartford far exceeds the national average of 13 coffee shops per capita. This smaller city is home to about 21 cafes per capita, which falls just below San Francisco's ratio of 23.

» Thirsty for more info? ☕ Read our full study here: The Best Coffee Cities in America

Each month, we compare cities in Connecticut based on different criteria. This month, we're looking at affordability and ranking the best cities in the state.

Most Affordable Cities in Connecticut
1. Hartford
2. Norwich-New London
3. New Haven-Milford

Ready to buy a home in Connecticut? Eligible buyers get cash back with Clever!

Worst of Connecticut

Each month, we compare cities in Connecticut based on a different criteria. This month we're looking at affordability data. These are the cities that ranked the worst in the state.

Least Affordable Cities in Connecticut
1. Waterbury
2. Bridgeport-Stamford-Norwalk
3. Torrington

Connecticut resources

👋 Next Steps: Talk to an expert!

If you're weighing your options for buying or selling a house, Clever can help!

Our fully-licensed concierge team is standing by to answer questions and provide free, objective advice on getting the best outcome with your sale or purchase.

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Give us a call at 1-833-2-CLEVER or enter your info below. Our concierge team will be in touch shortly to help.

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Frequently asked questions about Connecticut real estate

Yes, Connecticut is a good state to invest real estate in. Bigger cities like Bridgeport and New Haven are prime areas, as people are always looking for housing in these cities. However, to maximize your investment, you must first understand your financing options and learn where the best neighborhoods in the state are. Learn more about it in our guide to real estate investing.

It could be a /real-estate-blog/the-best-time-to-buy-a-house-in-connecticut/. Even though listing prices are higher than average, the final sales prices tend to match or go under the estimated value of a property — meaning that there’s a lot of room to negotiate a good deal. On top of that, mortgage rates in the state are quite low. With the help of the right real estate agent, you could get a great deal on the perfect home.

Methodology

Clever's analysis of state market trends is based on local data from Zillow, realtor.com, Redfin, Bankrate, the U.S. Census, and Clever surveys. Our team of over 20 real estate analysts from across the country research local markets and data to compile our "Best" and "Worst" rankings.

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