At the beginning of a new year many homeowners are making decisions about their housing. Spring is a popular time to list a property with the hopes of selling and being settled before the next winter sets in.
2025 continued to be a hot market for our state, with supply staying low and demand staying up.
In Hartford county, the average single family home sale price increased by 6.2% from 2024 ($430,393 in 2024 to $457,025 in 2025), and the percentage of list price received (ie: what a property sold for vs. what it was listed for) declined slightly by 0.1% but was still at 103.3%. New listings decreased by 4.2% and closed sales declined by 10.6% with a corresponding drop in “months supply” by 5.6%. (Data obtained from the CT SmartMLS).
So what is in store for 2026? Currently, home prices are projected to continue to rise. Hartford (and its surrounding towns) was just named the nation’s hottest housing market by both Zillow and Realtor.com due to severe inventory shortages and strong buyer demand. This is continuing the trend of bidding wars and sales over asking price. To put the supply demand in perspective, our market continues to have a supply that is 63% lower than its pre-COVID levels.
The good news for buyers is that 30-year mortgage rates are projected to gradually decrease from 6.1%-6.4% to the high 5% range.
With a market that continues to be as challenging as the one we’ve been in, it is always a good idea to get professional opinions when deciding whether it’s the right to time to sell or make updates. We are always here if you have questions and need a valuation completed on your property!