Wilton, 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 | 256 | 2 | 7 | 17 | 2 |
| Average Sales Price per Square Foot | 375 | 360 | 357 | 358 | 346 |
| Average Days on Market | 48 | 64 | 49 | 45 | 35 |
| Number of Properties for Sale | 517 | 16 | 37 | 47 | 26 |
| Average List Price | $1,471,592 | $1,549,425 | $1,418,911 | $1,480,901 | $1,667,546 |
| Median List Price | $1,222,458 | $1,367,500 | $1,099,000 | $1,222,167 | $1,267,000 |
| Average Sales Price | $1,322,038 | $1,345,450 | $1,575,265 | $1,350,554 | $1,105,435 |
| Median Sales Price | $1,151,917 | $992,500 | $1,470,000 | $1,189,167 | $996,000 |
| Sales Price / List Price Ratio | 106.29% | 101.63% | 104.16% | 103.5% | 102.96% |
| Number of Properties Sold | 238 | 20 | 17 | 16 | 15 |
| Month’s Supply of Inventory | 2.66 | 0.8 | 2.18 | 2.96 | 1.73 |
| Absorption Rate | 0.54 | 1.25 | 0.46 | 0.36 | 0.58 |
Average & Median Sales Price
The median sales price in December 2024 was $992,500, down -32.48% from $1,470,000 from the previous month and equal to December 2023. The December 2024 median sales price was at its lowest level compared to December 2023 and 2022.
The average sales price in December 2024 was $1,345,450, down -14.59% from $1,575,265 from the previous month and 21.71% higher than $1,105,435 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 101.63%, down from 104.16% from the previous month and down from 102.96% from December 2023.
Number of Properties Sold & Absorption Rate
The number of properties sold in December 2024 was 20, up 17.65% from 17 from the previous month and 33.33% higher than 15 from December 2023. The December 2024 sales were at its highest 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 64 days, up 30.61% from 49 days from the previous month and 82.86% higher than 35 days from December 2023. The December 2024 DOM was at its highest 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 $360, equal to the previous month and 4.05% higher than $346 from December 2023.
Inventory & MSI
The number of properties for sale in December 2024 was 16, down -56.76% from 37 from the previous month and -38.46% lower than 26 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 0.8 months was at its lowest level compared with December 2023 and 2022.
New Listings
The number of new listings in December 2024 was 2, down -71.43% from 7 from the previous month and equal to December 2023. The December 2024 listings were at its lowest level compared to December 2023 and 2022.
Judy Michaelis
Prefer the quick version? Here's a snapshot of the December 2024 Wilton Market Update:
🏠 Prices dropped sharply despite strong fundamentals – Median sales price plummeted 32% to $993K from November's $1.47M, though average price held better at $1.345M. This likely reflects lower-priced homes dominating December sales.
⏰ Homes taking longer to sell – Average days on market rose to 64 days, up 31% from November and 83% higher than last year's swift 35 days. Market momentum clearly slowed heading into winter.
📈 Inventory at crisis levels – Only 16 homes for sale, down 57% from November and 38% below last year. New listings collapsed to just 2 properties, creating severe supply constraints.
📊 Sales activity improved modestly – 20 closings, up 18% from November and 33% above last year's 15. Despite challenges, transaction volume showed resilience.
What Buyers and Sellers Need to Know
✨ Sellers: Extreme inventory shortage (0.8 months supply) still favors you, but expect longer selling times and potentially lower prices for certain property types.
🔍 Buyers: You have minimal choices with historically low inventory, but homes are taking longer to sell, suggesting some negotiating room on price and terms.
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