Tri-state Homes Sell Faster Despite High Prices

Connecticut, New Hampshire and New York single-family homes are selling in 51 days compared to 77 days nationally, even as median list prices reach $605,000, a $170,000 premium over the national median of $435,000. The data from the week ending Nov. 1 reveals a market where 36% of active listings have taken price cuts, yet inventory remains constrained at 1.81 months of supply.

The tri-state region’s median days on market of 51 days outpaces the national figure of 77 days. With 28,214 active single-family listings across the three states and 3,410 homes absorbed during the week, the market continues to favor sellers despite widespread price adjustments.

Inventory and pace

The tri-state area maintains just 1.81 months of supply, below the national level of 2.90 months and slightly above the state median of 1.59 months. Active inventory totaled 28,214 single-family homes, with 3,410 properties absorbed during the week.

The relisting rate of 6.88% indicates most properties are finding buyers on their first market appearance. Meanwhile, homes that do sell are moving faster than in most U.S. markets, with the 51-day median significantly below the 77-day national benchmark.

Pricing dynamics

At $605,000, the median list price in Connecticut, New Hampshire and New York exceeds the national median by 39%. Price per square foot reached $297.11, compared to $213.14 nationally, a 39.4% premium that reflects the region’s higher property values.

However, 36.03% of active listings saw price reductions during the week, while just 1.08% increased their asking prices. This adjustment pattern suggests sellers are recalibrating expectations to match current buyer demand, even in a market with limited inventory.

How it compares

The tri-state region’s $605,000 median list price sits $10,000 above the broader state median of $595,000. Similarly, the price per square foot of $297.11 tracks closely with the state figure of $298.80.

Additionally, the region’s 51-day median days on market represents a middle ground between the faster 42-day state median and the slower 77-day national pace. The 1.81 months of supply positions the market between the tighter 1.59-month state inventory and the more balanced 2.90-month national level.

What to watch

Monitor the 36% price reduction rate as a leading indicator of seller sentiment. Track whether the 51-day median days on market holds steady or trends toward either the faster state pace or slower national average. Watch months of supply to see if inventory builds beyond the current 1.81-month level.

Use the $605,000 median price benchmark when advising clients on listing strategies. Track the 6.88% relisting rate to gauge first-time listing success. Monitor the gap between the region’s $297 per-square-foot pricing and the $213 national average to understand relative value propositions.

HousingWire used HW Data to source this story. To see what’s happening in your own local market, generate housing market reports. For enterprise clients looking to license the same market data at a larger scale, visit HW Data.