Connecticut’s Housing Market: Short Supply, Rising Prices, and First-Time Buyer Hurdles
- Neil Caron
- Apr 17
- 2 min read
Connecticut homebuyers are facing what the Connecticut Housing Finance Authority (CHFA) calls an “unbalanced housing market.” And they're not wrong.
In a recent CHFA Housing Pulse update, Senior Analyst Andrew Bolger broke down just how tight the Connecticut housing scene has become—and what it means for first-time buyers. The findings? Fewer listings, faster sales, and dramatically higher home prices are reshaping the path to homeownership across the state.
According to CHFA, Connecticut had 78% fewer active listings in February 2025 compared to the same time in 2019—the largest deficit in the nation. In some regions, like the Capitol area, that gap jumps above 80%. It’s not just that inventory is low—it's historically low.
“It’s no wonder buyers feel stuck,” says Neil Caron, Area Manager at CMG Mortgage. “When homes are disappearing before the weekend and prices are climbing, buyers need every possible advantage. That’s where education, planning, and the right programs come in.”
🐷 RSL Piggy Point: Homes Are Selling Fast and Above Asking
Across Connecticut, homes are not only scarce—they’re selling faster and for more. In January 2025, the average home in the Hartford metro went under contract in just 30 days, compared to 82 days in 2019.
And what about prices? CHFA’s analysis shows the median sale price jumped from $235,000 in 2019 to $370,000 in 2024. At the height of the surge, 75% of homes in Connecticut sold above list price, compared to just 15-25% before 2020.
🐷 RSL Piggy Point: CHFA Programs Offer a Lifeline
Despite the challenging market, CHFA continues to be a crucial resource for first-time buyers. Programs like:
Time To Own
Down Payment Assistance Program
…are designed to make homeownership accessible even when inventory is tight and competition is fierce.
“We tell our clients: You don’t have to go it alone,” says Neil Caron. “Programs offered by CHFA can help first-time buyers bridge the gap and compete confidently.”
🐷 RSL Perspective: How We Help
At ReadySetLoan, we educate homebuyers about every tool available—including CHFA’s standout offerings.
We're here to help you navigate the numbers, decode the trends, and plan a path forward—because owning a home in Connecticut should still be within reach.
🔍 To learn more about CHFA’s homebuyer programs and data, visit CHFA’s official site.
And if you're ready to explore what homeownership could look like for you, ReadySetLoan is your trusted guide at the starting line.
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