There is fierce competition for real estate in Connecticut on 2021. With an extremely low supply of available homes for sale and increasing demand, some would-be buyers feel as though it is becoming hard to afford the cost of moving into a new home.
Connecticut’s lack of available homes for sale and intense competition among buyers has pushed prices extremely high.
Meyer. “We’ll get really excited about a property and then we’ll hear that one didn’t work out.”
What is Median Sale Price?
The median sale price refers to the sale price in the middle of the data set when all the sale prices are arranged from low to high. The median represents the figure at which half of the properties in each of Connecticut’s eight counties sell at a higher price and other half at a lower price.
The highest median home price and most drastic change over the last two years is in Fairfield County, where there was an increase of 43.5% to more than $400,000.
Statewide, the median sales price jumped more than 32% over the last couple years.
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