Middlesex County Chamber: Middlesex County Q1 Housing Market Report

Clinton CT

14 April, 2022

10:47 AM

Description

Press release from the Middlesex County Chamber: April 12, 2022 The New Haven Middlesex Association of REALTORS® (NHMR) reports that sales of single-family homes in Middlesex County decreased 28.3% in the first quarter of 2022 compared to Q1 of 2021. Total units sold from January 1 through March 31 were 345 in 2022 compared to 481 in 2021. The median sales price of $325,000 from January through March of 2022 represents a 7.7% increase from $349,900 for the same time in 2021. The median price indicates that half the homes sold for more and half for less. Condominium sales for Middlesex County comparing first quarter of 2022 to 2021 shows an 11.3% decrease in the number of unit sales, with 94 units sold in Q1 2022 compared to 106 units sold in the same period in 2021. The median sales price for condominiums increased 18.7% from $145,111 in Q1 2021 to $172,250 in Q1 2022. Homes continue to sell quickly, with the number of days on the market continuing to drop. In the first quarter of 2022, single family homes were on the market for an average of 49 days, selling 19.7% faster than the first quarter of 2021, which saw an average of 61 days on the market. "Middlesex County is experiencing the same trends that we are seeing with home sales across the country," said Tom Clancy, President of New Haven Middlesex Realtors. "The lack of inventory of homes for sale has created a very tight market. For homeowners that are considering selling their home, now is a very good time to sell." Data was provided from reports generated from SmartMLS multiple listing service. The New Haven Middlesex Association of REALTORS® is "The Voice for Real Estate" for New Haven and Middlesex counties. The Association is comprised of over 2,700 members and is the second largest Realtor association in the state. NHMR provides professional development, education, programs and resources for REALTORS® and appraisers. NHMR is an advocate for issues whose purpose is to preserve the free enterprise system and to protect the rights of private property owners. REALTOR® is a federally registered collective membership mark which identifies a real estate professional who is member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics. This press release was produced by the Middlesex County Chamber. The views expressed here are the author's own.