Redding, CT April 2025 Real Estate Market Report: Insights & Forecast
Assembled by: Judy Michaelis, 203-247-5000
Market Trends Report – March 2025
Overview
The overview below shows real estate activity from January 2025 to March 2025. You will see data comparisons between March and the previous month, the last three months and March 2024.
| Overview | YTD Avg. | March | February | Dec. – Feb. | Mar. 2024 |
|---|---|---|---|---|---|
| New Listings | 25 | 12 | 8 | 5 | 9 |
| Average Sales Price per Square Foot | 332 | 313 | 278 | 337 | 281 |
| Average Days on Market | 92 | 114 | 88 | 73 | 58 |
| Number of Properties for Sale | 67 | 20 | 24 | 24 | 24 |
| Average List Price | $1,428,845 | $1,429,590 | $1,431,579 | $1,445,577 | $1,813,152 |
| Median List Price | $1,227,333 | $1,274,000 | $1,219,000 | $1,261,000 | $1,194,500 |
| Average Sales Price | $1,191,437 | $808,312 | $1,097,000 | $1,165,273 | $782,718 |
| Median Sales Price | $1,089,833 | $818,000 | $1,101,500 | $1,030,167 | $782,900 |
| Sales Price / List Price Ratio | 95.08% | 93.05% | 96.21% | 96.13% | 101.49% |
| Number of Properties Sold | 20 | 8 | 7 | 8 | 11 |
| Month’s Supply of Inventory | 3.51 | 2.5 | 3.43 | 3.46 | 2.18 |
| Absorption Rate | 0.3 | 0.4 | 0.29 | 0.31 | 0.46 |
Average & Median Sales Price
The median sales price in March 2025 was $818,000, down -25.74% from $1,101,500 from the previous month and 4.48% higher than $782,900 from March 2024. The March 2025 median sales price was at a mid level compared to March 2024 and 2023.
The average sales price in March 2025 was $808,312, down -26.32% from $1,097,000 from the previous month and 3.27% higher than $782,718 from March 2024. The March 2025 average sale price was at a mid level compared to March 2024 and 2023.
Sales Price / List Price Ratio
The sales price/list price ratio is the average sale price divided by the average list price for sold properties expressed as a percentage. If it is above 100%, homes are selling for more than the list price. If it is less than 100%, homes are selling for less than the list price.
The March 2025 sales price/list price ratio was 93.05%, down from 96.21% from the previous month and down from 101.49% from March 2024.
Number of Properties Sold & Absorption Rate
The number of properties sold in March 2025 was 8, up 14.29% from 7 from the previous month and -27.27% lower than 11 from March 2024. The March 2025 sales were at a mid level compared to March 2024 and 2023.
Absorption rate is the avg number of sales per month divided by the total number of available properties.
Average Days on Market
The average days on market (DOM) is the number of days a property is on the market before it sells. An upward trend in DOM tends to indicate a move towards a buyer’s market, a downward trend tends to indicate a move towards seller’s market.
The DOM for March 2025 was 114 days, up 29.55% from 88 days from the previous month and 96.55% higher than 58 days from March 2024. The March 2025 DOM was at its highest level compared with March 2024 and 2023.
Average Sales Price per Square Foot
The average sales price per square foot is a more normalized indicator for the direction of property value. The sales price per square foot in March 2025 was $313, up 12.59% from $278 from the previous month and 11.39% higher than $281 from March 2024.
Inventory & MSI
The number of properties for sale in March 2025 was 20, down -16.67% from 24 from the previous month and -16.67% lower than 24 from March 2024. The March 2025 inventory was at a mid level compared with March 2024 and 2023.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The March 2025 MSI of 2.5 months was at a mid level compared with March 2024 and 2023.
New Listings
The number of new listings in March 2025 was 12, up 50.0% from 8 from the previous month and 33.33% higher than 9 from March 2024. The March 2025 listings were at a mid level compared to March 2024 and 2023.
Judy Michaelis
Prefer the quick version? Here's a snapshot of the March 2025 Redding Market Update:
🏠 Prices dropped from peak – Median sales price fell to $818K, down 26% from February but still 4% above last year. Market showing correction from recent highs.
⏰ Homes taking much longer to sell – Average days on market jumped to 114 days, up 30% from February and 97% higher than last year's 58 days. Clear shift toward buyer's market.
📈 Inventory remains limited – Only 20 homes available, down 17% from February and matching last year's levels. Supply constraints persist despite slower market.
📊 Sales activity declined – 8 homes sold, up from February but down 27% from last year's 11. Lower transaction volume reflects market uncertainty.
What Buyers and Sellers Need to Know
✨ Sellers: Market conditions shifting unfavorably with homes selling below asking (93% of list price) and taking twice as long to sell. Consider competitive pricing.
🔍 Buyers: Improved negotiating position with homes selling below asking and longer market times. The 2.5-month supply indicates better opportunities ahead.
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