Is 06118, CT a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 06118 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 06118 has remained a Seller's Market.

Key Takeaway

06118 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 06118, CT

How much do homes in 06118, CT cost?

Median Sold Price

$277,500

$203/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$27,500(+11.0%)

Key Takeaway

Homes in 06118 have sold for 11% more than they did a year ago.

Summary: The median home sold price in 06118 was $277,500 in October 2024, up 11% from last year, and the median price per square foot was $203.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $162K$165K
+1.9%
2 $160K$185K
+15.6%
3 $270K$305K
+13.0%
4 $276.1K$289.9K
+5.0%
5+ $355K$358.5K
+1.0%

Summary: 06118 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.9%, 2 bedroom homes increased by 15.6%, 3 bedroom homes increased by 13%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 1%.

Median Sold Price Compared To Nearby Zip Codes

06114
+23.0%
06033
+14.6%
06108
+14.5%
06118
+11.0%
06109
+8.4%

Housing Supply in 06118, CT

How many homes are available in 06118, CT?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
11099-10.0%

Summary: The 06118 real estate market had 99 homes for sale in October 2024, a 10.0% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 2123
+9.5%
3 5552
-5.5%
4 2618
-30.8%
5+ 75
-28.6%

Summary: The 06118 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 9.5%, 3 bedroom homes decreased by 5.5%, 4 bedroom homes decreased by 30.8%, and 5+ bedroom homes decreased by 28.6%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3229-9.4%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

23 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 06118, you could pay more than the asking price. 79.3% of homes here sold above asking price last month.

Summary: A total of 29 homes were sold or pending in 06118 in October 2024, down by 9.4% month-over-month. Of the 29 sold homes, 10% were sold under asking, 10% were sold at asking, and 79% were sold over asking.

Days on Market for 06118, CT

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 06118, CT

Nearby Markets to 06118, CT