<h3><strong>Connecticut Multi-Family Housing Market Update</strong></h3><p>The latest twelve-month data ending November 16, 2025 shows a total of 901 multi-family sales statewide, which is about seven percent lower than the previous year. Even with fewer transactions, total dollar volume rose seven percent to more than four hundred forty four million, indicating stronger prices among the homes that did sell. The median sale price climbed nine percent to four hundred thirty five thousand and the average sale price increased fifteen percent to about four hundred ninety three thousand. The median reflects the middle of the market while the average is influenced by high-priced closings. Median days on market increased slightly to thirteen days, which still represents a fast-moving market.</p><p>Pricing charts show steady long-term appreciation with some short-term fluctuations. Market activity charts indicate a slight cooldown from previous peak years but overall strength. The price ranges between three hundred and three hundred ninety nine thousand and four hundred and four hundred ninety nine thousand dominate statewide activity, each with more than two hundred fifty sales. Competitive pressure remains steady, with properties closing for about one point six percent over asking price.</p><p>Monthly snapshots give further clarity. October 2025 recorded two hundred seventy nine sales with a median of four hundred twenty five thousand. September logged two hundred fifty three sales with a median of four hundred forty thousand. August recorded two hundred fifty six sales with a median of four hundred twenty thousand. June stood out with unusually high averages due to a few significant high-end transactions.</p><p>Buyer demand is strongest in the mid-priced segments where homes tend to go under contract in under three weeks. Multi-family homes priced above one million take longer due to a smaller buyer pool. Statewide appreciation reflects strong investor demand, rising rents, limited inventory, and competitive conditions across most towns. Pricing still varies widely by town, influenced by rental potential, school districts, property condition, age of systems, and zoning. Cities like New Haven and Stamford consistently command higher values than markets like Meriden or Waterbury.</p><h3><strong>Interest Rate Update</strong></h3><p>Rates closed last week at 6.38 percent for a 30 year fixed mortgage, 5.86 percent for a 15 year fixed, 6.02 percent for FHA loans and 6.04 percent for VA loans.</p><h3><strong>Local Connecticut Real Estate News</strong></h3><p>A major two-phase redevelopment has been proposed for downtown New Haven at State and George Streets. The plan includes 461 new apartments along with retail and community space on a city-owned parcel. The City’s Board of Alders approved the development and land-disposition agreement in September 2025. Final design reviews are scheduled with the City Plan Commission. The project is designed to be transit oriented and mixed income with some units reserved as affordable based on income guidelines. It aims to stimulate economic activity, attract new residents, and support commercial uses while leveraging public-private financing, including possible brownfield incentives.</p><p>The Connecticut Senate recently approved House Bill 8002, a statewide housing reform bill focused on speeding up development, easing regulatory barriers, and encouraging transit oriented housing. The bill requires towns to either adopt or join regional housing growth plans. It reduces parking requirements for residential buildings up to sixteen units, expands the ability to convert commercial buildings into residential uses without full hearings, and lowers the population threshold for towns required to maintain Fair Rent Commissions. The Department of Housing now has greater authority to develop affordable housing on state or local land. Supporters see the bill as vital for increasing supply while critics argue it shifts too much control from municipalities to the state.</p><h3><strong>National Housing News</strong></h3><p>The Federal Housing Finance Agency is evaluating two major ideas that could reshape mortgage accessibility: assumable mortgages and portable mortgages. Assumable mortgages would let buyers take over a seller’s current mortgage, including the interest rate. Portable mortgages would let a homeowner keep their low interest rate and transfer their loan to a new property. Both concepts could help affordability but face challenges around servicing, collateral structure, loan contracts, and secondary market rules. FHA and VA loans are currently the most common types with assumability, but widespread adoption remains complicated.</p><p>The National Association of Realtors 2025 Profile of Home Buyers and Sellers shows major demographic shifts. The share of first-time buyers dropped to 21 percent, the lowest on record. The median age of first-time buyers rose to 40 years and repeat buyers reached 62 years. Down payments are the highest they have been in decades with a median of about 19 percent across all buyers. Cash buyers make up 26 percent of the market. The share of buyers with children under 18 has fallen to 24 percent. Single women represent 21 percent of buyers, while single men represent 9 percent. Motivations reflect lifestyle changes, with many moving to be closer to family or friends. Agent usage remains strong with 88 percent of buyers and 91 percent of sellers hiring a real estate professional.</p>
<p><p>If you’re interested in buying, selling, or renting real estate anywhere within the State of Connecticut, <a href="https://www.triniyah.com/contact">please visit our website to see how we can assist you</a>!</p></p>

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