Norwich-area home prices steady in June, with houses for sale in high demand
A typical New London County home listed for $404,500 in June, unchanged from a month earlier, an analysis of data from Realtor.com shows.
The median list home price in June was up about 12.4% from June 2021. New London County’s median home was 1,809 square feet for a listed price of $232 per square foot.
The New London County market was busy, with a median 26 days on market. A month earlier, homes had a median 22 days on market. The market added 404 new home listings in June, compared with the 484 added in June 2021. The market ended the month with some 424 listings of homes for sale.
The median home prices issued by Realtor.com may exclude much, or even most, of a market’s homes. The price and volume represent only homes that are single-family homes, condominums or townhomes. They include existing homes, but exclude most new construction as well as pending and contingent sales.
Information on your local housing market is available through the USA TODAY Network, with more data from Realtor.com.
Windham County home prices rise 1.4% to $369,900
Windham County’s home prices rose 1.4%, to a median $369,900, from a month earlier. The typical house was on the market for 21 days, from 20 days a month earlier. The typical 1,776-square-foot house had a list price of $211 per square foot.
Across all of Connecticut, median home prices were $524,900, rising 2.9% from a month earlier. The median Connecticut home for sale had 1,995 square feet at list price of $262 per square foot.
Across the United States, median home prices were $450,000, up 0.7% from a month earlier. The median American home for sale had 1,887 square feet, listed at $228 per square foot.
The median home list price — the midway point of all the houses or units listed over a period of time — is used more often in this report instead of the average home list price because experts say the median offers a more accurate view of what’s happening in a market. In finding the average price, all prices of homes listed are added and then divided by the number of homes sold. This measure can be skewed by one low or high price.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from the Realtor.com residential listings database.. The story was written by Mike Stucka and Sean Lahman.
This article originally appeared on The Bulletin: Norwich-area homes for sale steady at $404,500 median price
