New Haven & Middlesex County Q1 Housing Market Report

Q1 HOME SALES DROP NEW HAVEN & MIDDLESEX COUNTIES;

Median sales price up compared to first quarter of 2021

 

The New Haven Middlesex Association of REALTORS® (NHMR) reports that sales of single-family homes in New Haven County decreased 13.8% in the first quarter of 2022 compared to Q1 of 2021.

Total units sold from January 1 through March 31 were 1,542 in 2022 compared to 1,788 in 2021. The median sales price of $306,500 from January through March of 2022 represents an 11.5% increase from $275,000 for the same time in 2021. The median price indicates that half the homes sold for more and half for less.

Condominium sales for New Haven County comparing first quarter of 2022 to 2021 shows no change in the number of unit sales, staying at 541 units sold for the same time in both years.

The median sales price for condominiums increased 8.5% from $164,000 in Q1 2021 to $178,000 in Q1 2022.

In Middlesex County, sales of single-family homes 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.

Bernadette Blazehousing market update