Redding, CT June 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 from January 2025 to May 2025. You will see data comparisons between May and the previous month, the last three months and May 2024.
| Overview | YTD Avg. | May | April | Feb. – Apr. | May 2024 |
|---|---|---|---|---|---|
| New Listings | 72 | 27 | 19 | 13 | 13 |
| Average Sales Price per Square Foot | 315 | 293 | 285 | 292 | 371 |
| Average Days on Market | 89 | 103 | 66 | 89 | 85 |
| Number of Properties for Sale | 136 | 34 | 30 | 26 | 28 |
| Average List Price | $1,399,654 | $1,558,191 | $1,340,300 | $1,345,484 | $1,546,502 |
| Median List Price | $1,123,000 | $1,187,500 | $1,024,500 | $1,079,500 | $1,012,000 |
| Average Sales Price | $1,087,970 | $1,018,700 | $845,714 | $917,384 | $1,041,667 |
| Median Sales Price | $1,001,780 | $899,900 | $835,000 | $919,667 | $1,060,000 |
| Sales Price / List Price Ratio | 95.66% | 94.28% | 98.62% | 96.01% | 97.29% |
| Number of Properties Sold | 34 | 7 | 7 | 7 | 3 |
| Month’s Supply of Inventory | 4.06 | 4.86 | 4.29 | 3.61 | 9.33 |
| Absorption Rate | 0.25 | 0.21 | 0.23 | 0.28 | 0.11 |
Average & Median Sales Price
The median sales price in May 2025 was $899,900, up 7.77% from $835,000 from the previous month and -15.10% lower than $1,060,000 from May 2024. The May 2025 median sales price was at a mid level compared to May 2024 and 2023.
The average sales price in May 2025 was $1,018,700, up 20.45% from $845,714 from the previous month and -2.20% lower than $1,041,667 from May 2024. The May 2025 average sale price was at a mid level compared to May 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 May 2025 sales price/list price ratio was 94.28%, down from 98.62% from the previous month and down from 97.29% from May 2024.
Number of Properties Sold & Absorption Rate
The number of properties sold in May 2025 was 7, equal to the previous month and 133.33% higher than 3 from May 2024. The May 2025 sales were at a mid level compared to May 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 May 2025 was 103 days, up 56.06% from 66 days from the previous month and 21.18% higher than 85 days from May 2024. The May 2025 DOM was at its highest level compared with May 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 May 2025 was $293, up 2.81% from $285 from the previous month and -21.02% lower than $371 from May 2024.
Inventory & MSI
The number of properties for sale in May 2025 was 34, up 13.33% from 30 from the previous month and 21.43% higher than 28 from May 2024. The May 2025 inventory was at its highest level compared with May 2024 and 2023.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The May 2025 MSI of 4.86 months was at a mid level compared with May 2024 and 2023.
New Listings
The number of new listings in May 2025 was 27, up 42.11% from 19 from the previous month and 107.69% higher than 13 from May 2024. The May 2025 listings were at its highest level compared to May 2024 and 2023.
Judy Michaelis
Prefer the quick version? Here's a snapshot of the May 2025 Redding Market Update:
🏠 Home prices show mixed signals – Median sales price is $899,900. That's up 8% from April but down 15% from last year, suggesting price corrections are underway.
⏰ Homes are taking much longer to sell – Average days on market jumped to 103, up 56% from April's 66 days, and 21% higher than last year's 85. This signals a significant market slowdown.
📈 Inventory is growing steadily – 34 homes for sale, up 13% from last month and 21% more than a year ago. More options are becoming available for buyers.
📊 Sales activity remains steady – 7 homes closed in May, matching April's number and 133% above last year's very low 3 sales, indicating some market recovery from 2024's sluggish pace.
What Buyers and Sellers Need to Know
✨ Sellers: Price competitively and prepare for extended marketing periods. With over 100 days average and declining price ratios, realistic pricing and patience are essential in this shifting market.
🔍 Buyers: You're gaining significant negotiating power as inventory grows and homes sit longer. Take time to evaluate options carefully—the market dynamics are clearly moving in your favor.
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