November Real Estate Market Update: What’s Happening in Milford, New Haven, and Fairfield, CT?

As we enter the holiday season, Connecticut’s real estate market remains as dynamic as ever. If you're considering buying, selling, or investing, November is packed with opportunities and challenges you’ll want to know about. This month, we’re focusing on the market trends in three of Connecticut’s most competitive areas: Milford, New Haven, and Fairfield. Read on to discover why the market is hot, how fast homes are selling, and what these trends mean for you. 

Milford, Connecticut Real Estate Market Trends for November

Milford continues to show strong seller market conditions, making it a great time for homeowners considering a sale. Here are the latest stats:

- Months Supply of Inventory: Milford’s inventory sits at 2.31 months, which indicates a seller’s market where demand is high, and there aren't enough homes to meet buyer demand.
- 12-Month Change in Inventory: Inventory has grown by 7.44% compared to last year, signaling a subtle shift as more homes hit the market.
- Median Days on Market: Homes in Milford are selling quickly, with a median of just 24 days on the market.
- List to Sold Price Percentage: Milford properties are going for 100.7% of their listing price, indicating strong demand and competition among buyers.
- Median Sold Price: The median price for sold homes is currently at $520,000, showing solid value retention in this popular coastal city.

These stats make Milford appealing for both sellers and buyers alike. If you’re looking to buy, be prepared to act quickly. Sellers can confidently price their homes knowing that demand is keeping prices strong.

New Haven, Connecticut Real Estate Market Trends for November

New Haven is seeing a highly competitive market this November, with a major decrease in available inventory. Here’s what’s going on:

- Months Supply of Inventory: The Months Supply of Inventory in New Haven is only 1.95, further underscoring that demand is outpacing supply.
- 12-Month Change in Inventory: Inventory is down by a significant 27.78% compared to last year. This tightening of inventory means buyers have to move fast to secure a home.
- Median Days on Market: Homes in New Haven are averaging just 19 days on the market, meaning properties are selling faster than ever.
- List to Sold Price Percentage: New Haven homes are going for about 101.5% of their asking price, showing that competitive bidding is driving up final sale prices.
- Median Sold Price: With a median sold price of $299,900, New Haven offers both affordability and value for buyers looking to be in a lively, urban area.

If you’re a buyer in New Haven, you’ll need to have financing ready and be prepared to act quickly in this competitive market. Sellers, on the other hand, can take advantage of high demand to achieve favorable selling prices.

Fairfield, Connecticut Real Estate Market Trends for November

Fairfield is one of the most desirable markets in Connecticut, and November’s numbers reflect its appeal. Here’s the latest:

- Months Supply of Inventory: Fairfield’s supply is at 1.75 months, signaling a strong seller’s market with limited inventory.
- 12-Month Change in Inventory: Inventory has decreased by 33.46% over the past year, making Fairfield even more competitive for buyers.
- Median Days on Market: Fairfield homes are selling quickly, with an average of just 33 days on the market.
- List to Sold Price Percentage: Properties in Fairfield are selling at 101.3% of the list price, indicating strong demand and competitive offers.
- Median Sold Price: The median sold price is a solid $825,000, reflecting Fairfield’s status as a high-demand area with valuable real estate.

Buyers in Fairfield should come prepared to make competitive offers, as demand remains high and inventory is scarce. Sellers, this could be an ideal time to list your property and potentially secure a strong sale price.

What Do These Market Trends Mean for Buyers, Sellers, and Investors?

Across all three markets—Milford, New Haven, and Fairfield—inventory remains low, demand is high, and properties are selling fast. For buyers, this means you’ll need to act quickly and make competitive offers, especially in Fairfield and New Haven where inventory has tightened significantly. If you’re a seller, you’re in a favorable position to achieve strong offers, as buyers compete for the limited homes available.

Investors will find opportunities in all three areas, but Fairfield’s high median price and Milford’s steady demand make them particularly interesting for potential long-term value. Meanwhile, New Haven offers a more affordable entry point with strong rental demand, thanks to its vibrant urban environment and educational institutions.

Whether you’re buying, selling, or investing, Connecticut’s real estate market this November is filled with opportunity. Contact me today to discuss how you can take advantage of these trends in Milford, New Haven, or Fairfield. Let’s make the most of this dynamic market together!