Darien, CT March 2025 Real Estate Market Report: Insights & Forecast
Assembled by: Judy Michaelis, 203-247-5000
Market Trends Report – February 2025
Overview
The overview below shows real estate activity from January 2025 to February 2025. You will see data comparisons between February and the previous month, the last three months and February 2024.
| Overview | YTD Avg. | February | January | Nov. – Jan. | Feb. 2024 |
|---|---|---|---|---|---|
| New Listings | 33 | 16 | 17 | 10 | 17 |
| Average Sales Price per Square Foot | 810 | 910 | 710 | 689 | 656 |
| Average Days on Market | 42 | 31 | 53 | 49 | 27 |
| Number of Properties for Sale | 41 | 20 | 21 | 19 | 27 |
| Average List Price | $4,061,165 | $4,099,000 | $4,023,329 | $4,840,741 | $4,611,667 |
| Median List Price | $2,642,500 | $2,835,000 | $2,450,000 | $3,963,833 | $3,499,000 |
| Average Sales Price | $2,608,485 | $3,148,333 | $2,068,636 | $2,247,166 | $2,637,200 |
| Median Sales Price | $2,208,750 | $2,567,500 | $1,850,000 | $2,115,167 | $1,878,000 |
| Sales Price / List Price Ratio | 101.64% | 98.14% | 105.13% | 106% | 103.42% |
| Number of Properties Sold | 17 | 6 | 11 | 16 | 10 |
| Month’s Supply of Inventory | 2.62 | 3.33 | 1.91 | 1.32 | 2.7 |
| Absorption Rate | 0.41 | 0.3 | 0.52 | 0.82 | 0.37 |
Average & Median Sales Price
The median sales price in February 2025 was $2,567,500, up 38.78% from $1,850,000 from the previous month and 36.71% higher than $1,878,000 from February 2024. The February 2025 median sales price was at its highest level compared to February 2024 and 2023.
The average sales price in February 2025 was $3,148,333, up 52.19% from $2,068,636 from the previous month and 19.38% higher than $2,637,200 from February 2024. The February 2025 average sale price was at its highest level compared to February 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 February 2025 sales price/list price ratio was 98.14%, down from 105.13% from the previous month and down from 103.42% from February 2024.
Number of Properties Sold & Absorption Rate
The number of properties sold in February 2025 was 6, down -45.45% from 11 from the previous month and -40.0% lower than 10 from February 2024. The February 2025 sales were at a mid level compared to February 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 February 2025 was 31 days, down -41.51% from 53 days from the previous month and 14.81% higher than 27 days from February 2024. The February 2025 DOM was at a mid level compared with February 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 February 2025 was $910, up 28.17% from $710 from the previous month and 38.72% higher than $656 from February 2024.
Inventory & MSI
The number of properties for sale in February 2025 was 20, down -4.76% from 21 from the previous month and -25.93% lower than 27 from February 2024. The February 2025 inventory was at its lowest level compared with February 2024 and 2023.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The February 2025 MSI of 3.33 months was at a mid level compared with February 2024 and 2023.
New Listings
The number of new listings in February 2025 was 16, down -5.88% from 17 from the previous month and -5.88% lower than 17 from February 2024. The February 2025 listings were at its lowest level compared to February 2024 and 2023.
Judy Michaelis
Prefer the quick version? Here's a snapshot of the February 2025 Darien Market Update:
🏠 Home prices surged dramatically – Median sales price is $2.57M. That's up 39% from last month and 37% from last year, reaching the highest level compared to recent years.
⏰ Homes are selling faster – Average days on market dropped to 31, down significantly from 53 last month, though still 15% higher than last year's 27 days.
📈 Inventory remains extremely tight – Only 20 homes for sale, down slightly from 21 last month and down 26% from a year ago. Supply is severely constrained in this luxury market!
📊 Sales activity slowed considerably – Just 6 homes closed in February, down 45% from last month and 40% lower than last year's 10 sales.
What Buyers and Sellers Need to Know
✨ Sellers: Market conditions shifted as homes are now selling slightly below asking at 98% of list price, down from 105% last month. The dramatic price increases suggest strong underlying demand despite fewer sales.
🔍 Buyers: You have more negotiating power with homes selling below asking price, but with only 20 properties available in this luxury market, quality inventory remains scarce. The faster days on market suggests good properties still move quickly when priced appropriately.
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