Redding, CT February 2025 Real Estate Market Report: Insights & Forecast
Assembled by: Judy Michaelis, 203-247-5000
Market Trends Report – January 2025
Overview
The overview below shows real estate activity for January 2025. You will see data comparisons between January and the previous month, the last three months and January 2024.
| Overview | YTD Avg. | January | December | Oct. – Dec. | Jan. 2024 |
|---|---|---|---|---|---|
| New Listings | 5 | 5 | 3 | 8 | 10 |
| Average Sales Price per Square Foot | 445 | 445 | 326 | 327 | 287 |
| Average Days on Market | 68 | 68 | 57 | 60 | 165 |
| Number of Properties for Sale | 12 | 12 | 21 | 33 | 25 |
| Average List Price | $1,821,158 | $1,821,158 | $1,685,381 | $1,585,693 | $1,550,884 |
| Median List Price | $1,624,500 | $1,624,500 | $1,495,000 | $1,337,500 | $895,000 |
| Average Sales Price | $1,748,750 | $1,748,750 | $729,818 | $893,770 | $962,000 |
| Median Sales Price | $1,600,000 | $1,600,000 | $639,000 | $820,667 | $921,000 |
| Sales Price / List Price Ratio | 95.43% | 95.43% | 96.2% | 98.52% | 103.34% |
| Number of Properties Sold | 4 | 4 | 11 | 11 | 3 |
| Month’s Supply of Inventory | 3 | 3 | 1.91 | 2.86 | 8.33 |
| Absorption Rate | 0.33 | 0.33 | 0.52 | 0.37 | 0.12 |
Average & Median Sales Price
The median sales price in January 2025 was $1,600,000, up 150.39% from $639,000 from the previous month and 73.72% higher than $921,000 from January 2024. The January 2025 median sales price was at its highest level compared to January 2024 and 2023.
The average sales price in January 2025 was $1,748,750, up 139.61% from $729,818 from the previous month and 81.78% higher than $962,000 from January 2024. The January 2025 average sale price was at its highest level compared to January 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 January 2025 sales price/list price ratio was 95.43%, equal to the previous month and down from 103.34% from January 2024.
Number of Properties Sold & Absorption Rate
The number of properties sold in January 2025 was 4, down -63.64% from 11 from the previous month and 33.33% higher than 3 from January 2024. The January 2025 sales were at its highest level compared to January 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 January 2025 was 68 days, up 19.30% from 57 days from the previous month and -58.79% lower than 165 days from January 2024. The January 2025 DOM was at a mid level compared with January 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 January 2025 was $445, up 36.50% from $326 from the previous month and 55.05% higher than $287 from January 2024.
Inventory & MSI
The number of properties for sale in January 2025 was 12, down -42.86% from 21 from the previous month and -52.00% lower than 25 from January 2024. The January 2025 inventory was at its lowest level compared with January 2024 and 2023.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The January 2025 MSI of 3 months was at its lowest level compared with January 2024 and 2023.
New Listings
The number of new listings in January 2025 was 5, up 66.67% from 3 from the previous month and -50.0% lower than 10 from January 2024. The January 2025 listings were at its lowest level compared to January 2024 and 2023.
Judy Michaelis
Prefer the quick version? Here's a snapshot of the January 2025 Redding Market Update:
🏠 Prices surged dramatically – Median sales price jumped to $1.6M, up 150% from December's $639K and 74% above last year's $921K. Highest January prices on record.
⏰ Homes taking longer to sell – Average days on market increased to 68 days, up 19% from December's 57 days, though still 59% faster than last year's 165 days.
📈 Inventory at critical lows – Only 12 homes available, down 43% from December and 52% below last year's 25. Lowest January inventory since tracking began.
📊 Sales volume plummeted – Just 4 homes sold, down 64% from December's 11 sales, though up 33% from last year's 3. Extremely limited transaction activity.
What Buyers and Sellers Need to Know
✨ Sellers: Despite selling below asking (95% of list price), the 3-month supply and $445/sq ft pricing favor sellers in this supply-constrained market.
🔍 Buyers: Dramatic price increases signal strong underlying demand, but limited inventory and higher price per square foot present challenges. Patience required in this low-volume environment.
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