Welcome to our monthly housing market update for Connecticut homebuyers! Nationally, the housing market is shifting toward buyers, with nearly 500,000 more sellers than buyers as of April 2025, according to Redfin. Experts even predict a 1% price drop by the end of the year. But here in Connecticut, things are different—and more competitive. Home prices are climbing, homes are selling faster than ever, and bidding wars are common. At Joint Path Mortgage, we’re here to help you navigate this market. In this May 2025 update, we’ll share the latest data and show why getting preapproved is more important than ever for Connecticut homebuyers looking to land their dream home.
Homes Are Selling Faster Than You Think—Be Ready to Act
In Connecticut, homes are flying off the market. From January to April 2025, the time it takes to sell a home has dropped significantly. In Hartford, homes sold in just 24 days in April, down from 45 days in January—a 21-day decrease! Bridgeport saw an even bigger drop, from 54 days to 33 days. This trend holds across New Haven (55 to 44 days), Norwich (45 to 33 days), and Torrington (69 to 50 days). Unlike the national market, where more inventory might mean less urgency, Connecticut’s fast sales show that competition is heating up. Imagine finding your dream home in Hartford, only to lose it because you weren’t ready to make an offer. Getting preapproved with Joint Path Mortgage means you can act fast, submitting an offer without delays in a market where every day counts.
Bidding Wars Are Common—Stand Out with Preapproval
Even though there are more homes on the market this year, competition remains fierce in Connecticut. In April 2025, homes in Bridgeport sold for 104.0% of their list price on average, and in Hartford, that number was even higher at 104.5%. This means buyers are often paying above the asking price—sometimes thousands more! Other areas like New Haven (101.9%) and Norwich (101.9%) also show homes selling above list price. Nationally, 44.4% of home sales in early 2025 included seller concessions, but here in Connecticut, bidding wars are more common than discounts. A preapproval letter from Joint Path Mortgage shows sellers you’re a serious buyer, giving you an edge over others in a competitive market where homes are selling for more than expected.
Prices Are Rising, Not Falling—Lock in Your Rate Now
While the national market expects a 1% price drop by the end of 2025, Connecticut is seeing the opposite. From January to April 2025, median sale prices climbed across the state. In Hartford, prices rose from $350,000 to $375,000—a 7.1% increase. Bridgeport saw an even bigger jump, from $602,500 to $670,000, up 11.2%. New Haven prices increased 6.1%, and Torrington’s went up 5.2%. Year-over-year, Hartford’s prices are up 10.3% as of April 2025. With mortgage rates hovering around 6.8% nationally, and potentially rising, these price increases make preapproval more important than ever. By getting preapproved with Joint Path Mortgage, you can lock in your rate for 60 to 90 days, protecting you from rate hikes and rising costs while you shop for your home.
More Listings, But Still Competitive—Seize the Opportunity
There’s some good news: more homes are hitting the market in Connecticut. From January to April 2025, inventory grew significantly. Bridgeport’s inventory jumped 35.4%, from 1,324 to 1,793 homes. New Haven saw a 9.8% increase, and Torrington a 10.0% rise. But inventory is still down compared to last year—Bridgeport’s is down 1.3% year-over-year, and Hartford’s is down 9.0%. Plus, demand remains high. In Hartford, 892 homes sold in April compared to 1,053 new listings, meaning nearly as many homes are selling as are being listed. Nationally, there’s a surplus of sellers, but in Connecticut, the market is tighter. Preapproval lets you jump on new listings the moment they appear, ensuring you don’t miss out in a market where competition is still strong.
Preapproval Gives You the Edge in Connecticut’s Market
Connecticut’s housing market is more competitive than the national buyer’s market, with fast sales, rising prices, and bidding wars. Getting preapproved isn’t just helpful—it’s essential. Preapproval gives you the speed to act when homes sell in as little as 24 days, the credibility to win bidding wars when homes sell for 104.5% of the list price, and the security of locking in your rate while prices climb. At Joint Path Mortgage, we’re here to help you navigate this market and secure your dream home. Don’t wait until you find the perfect house—get preapproved today and gain the edge you need. Get Preapproved Now
Data sourced from Redfin Data Center, January-April 2025.
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