Easton, CT January 2025 Real Estate Market Report: Insights & Forecast
Assembled by: Judy Michaelis, 203-247-5000
Market Trends Report – December 2024
Overview
The overview below shows real estate activity from January 2024 to December 2024. You will see data comparisons between December and the previous month, the last three months and December 2023.
| Overview | YTD Avg. | December | November | Sep. – Nov. | Dec. 2023 |
|---|---|---|---|---|---|
| New Listings | 84 | 2 | 1 | 6 | 8 |
| Average Sales Price per Square Foot | 283 | 345 | 257 | 263 | 287 |
| Average Days on Market | 69 | 58 | 60 | 49 | 95 |
| Number of Properties for Sale | 232 | 6 | 13 | 19 | 23 |
| Average List Price | $1,417,163 | $2,188,833 | $1,551,808 | $1,483,215 | $1,142,630 |
| Median List Price | $1,169,708 | $2,322,000 | $950,000 | $1,041,667 | $999,000 |
| Average Sales Price | $1,048,833 | $1,671,429 | $970,667 | $927,556 | $850,500 |
| Median Sales Price | $967,704 | $1,197,000 | $860,000 | $846,833 | $820,000 |
| Sales Price / List Price Ratio | 99.78% | 97.97% | 98.81% | 99.23% | 99.44% |
| Number of Properties Sold | 80 | 7 | 9 | 5 | 6 |
| Month’s Supply of Inventory | 3.52 | 0.86 | 1.44 | 4.73 | 3.83 |
| Absorption Rate | 0.41 | 1.17 | 0.69 | 0.33 | 0.26 |
Average & Median Sales Price
The median sales price in December 2024 was $1,197,000, up 39.19% from $860,000 from the previous month and 45.98% higher than $820,000 from December 2023. The December 2024 median sales price was at its highest level compared to December 2023 and 2022.
The average sales price in December 2024 was $1,671,429, up 72.19% from $970,667 from the previous month and 96.52% higher than $850,500 from December 2023. The December 2024 average sale price was at its highest level compared to December 2023 and 2022.
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 December 2024 sales price/list price ratio was 97.97%, equal to the previous month and down from 99.44% from December 2023.
Number of Properties Sold & Absorption Rate
The number of properties sold in December 2024 was 7, down -22.22% from 9 from the previous month and 16.67% higher than 6 from December 2023. The December 2024 sales were at a mid level compared to December 2023 and 2022.
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 December 2024 was 58 days, down -3.33% from 60 days from the previous month and -38.95% lower than 95 days from December 2023. The December 2024 DOM was at its lowest level compared with December 2023 and 2022.
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 December 2024 was $345, up 34.24% from $257 from the previous month and 20.21% higher than $287 from December 2023.
Inventory & MSI
The number of properties for sale in December 2024 was 6, down -53.85% from 13 from the previous month and -73.91% lower than 23 from December 2023. The December 2024 inventory was at its lowest level compared with December 2023 and 2022.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The December 2024 MSI of 0.86 months was at its lowest level compared with December 2023 and 2022.
New Listings
The number of new listings in December 2024 was 2, up 100% from 1 from the previous month and -75.00% lower than 8 from December 2023. The December 2024 listings were at a mid level compared to December 2023 and 2022.
Judy Michaelis
Prefer the quick version? Here’s a snapshot of the December 2024 Easton Market Update:
🏠 Prices surged dramatically – Median sales price jumped to $1.2M, up 39% from November and 46% above last year. Highest December prices on record.
⏰ Homes selling faster – Average days on market dropped to 58 days, down 3% from November and 39% below last year’s 95 days.
📈 Inventory at historic lows – Only 6 homes available, down 54% from November and 74% below last year. Lowest December inventory on record.
📊 Sales activity mixed – 7 homes sold, down 22% from November but up 17% above last year despite extremely tight inventory.
What Buyers and Sellers Need to Know
✨ Sellers: Homes selling in just 58 days with 0.86-month supply creating strong seller’s market despite homes selling slightly below asking at 98%.
🔍 Buyers: Dramatic price increases and record-low inventory create challenging conditions. Expect limited choices and need to move very quickly on opportunities.
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