Weston, CT February 2025 Real Estate Market Report: Insights & Forecast
Assembled by: Judy Michaelis, 203-247-5000
Market Trends Report
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 | 6 | 6 | 3 | 8 | 10 |
| Average Sales Price per Square Foot | 364 | 364 | 317 | 377 | 334 |
| Average Days on Market | 73 | 73 | 40 | 52 | 44 |
| Number of Properties for Sale | 11 | 11 | 17 | 27 | 33 |
| Average List Price | $1,556,627 | $1,556,627 | $1,672,876 | $1,564,458 | $1,954,872 |
| Median List Price | $1,399,000 | $1,399,000 | $1,390,000 | $1,308,667 | $1,800,000 |
| Average Sales Price | $1,539,753 | $1,539,753 | $1,161,682 | $1,324,845 | $1,735,000 |
| Median Sales Price | $1,243,500 | $1,243,500 | $1,150,000 | $1,244,011 | $1,735,000 |
| Sales Price / List Price Ratio | 106.22% | 106.22% | 103.2% | 101.9% | 102.55% |
| Number of Properties Sold | 10 | 10 | 11 | 11 | 2 |
| Month’s Supply of Inventory | 1.1 | 1.1 | 1.55 | 2.6 | 16.5 |
| Absorption Rate | 0.91 | 0.91 | 0.65 | 0.44 | 0.06 |
Average & Median Sales Price
The median sales price in January 2025 was $1,243,500, up 8.13% from $1,150,000 from the previous month and -28.33% lower than $1,735,000 from January 2024. The January 2025 median sales price was at a mid level compared to January 2024 and 2023.
The average sales price in January 2025 was $1,539,753, up 32.55% from $1,161,682 from the previous month and -11.25% lower than $1,735,000 from January 2024. The January 2025 average sale price was at a mid 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 106.22%, up from 103.2% from the previous month and up from 102.55% from January 2024.
Number of Properties Sold & Absorption Rate
The number of properties sold in January 2025 was 10, down -9.09% from 11 from the previous month and 400% higher than 2 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 73 days, up 82.50% from 40 days from the previous month and 65.91% higher than 44 days from January 2024. The January 2025 DOM was at its highest 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 $364, up 14.83% from $317 from the previous month and 8.98% higher than $334 from January 2024.
Inventory & MSI
The number of properties for sale in January 2025 was 11, down -35.29% from 17 from the previous month and -66.67% lower than 33 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 1.1 months was at its lowest level compared with January 2024 and 2023.
New Listings
The number of new listings in January 2025 was 6, up 100% from 3 from the previous month and -40.0% 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 Weston Market Update:
🏠 Home prices showed mixed signals – Median sales price is $1.243M. That's up 8% from last month but down 28% from last year.
⏰ Homes are taking much longer to sell – Average days on market is now 73, up dramatically from 40 last month and 66% higher than last year's 44 days.
📈 Inventory remains extremely tight – 11 homes for sale, down 35% from 17 last month and down 67% from a year ago. Supply is severely constrained!
📊 Sales activity remained steady – 10 homes closed in January, down 9% from last month but up 400% from last year's exceptionally slow pace of just 2 sales.
What Buyers and Sellers Need to Know
✨ Sellers: You're in a strong position as homes are selling above asking at 106% of list price. However, expect longer marketing times as the market has cooled from December's pace.
🔍 Buyers: While inventory is very limited with just 1.1 months of supply, you may have slightly more time to evaluate properties given the longer days on market. Properties are still commanding premium prices above listing price.
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