06488 Housing Market Report January 2025•New Haven County, Connecticut

hero building illustration for mobile

Housing Prices in 06488, CT

How much do homes in 06488, CT cost?

Housing Market Conditions

Is 06488, CT a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

06488 is a Neutral Market

Difference Since January 2024

At the same time last year, 06488 was a Seller's Market.

Insight

06488 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$389,666$244/SqFt
+$40,333
+11.5%

Based on all homes sold in the last 12 months

Insight

Homes in 06488 have sold for 11.5% more than they did a year ago.

Summary: The median home sold price in 06488 was $389,666 in January 2025, up 11.5% from last year, and the median price per square foot was $244.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
06798
+26.4%
06488
+11.5%
06470
+6.0%
06482
+2.1%
06478
0.5%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsJan 2024Jan 2025Change YoY
1$205K$233K
+13.7%
2$272K$325K
+19.5%
3$440K$455K
+3.4%
4$620K$725K
+16.9%
5$860K$870K
+1.2%

Summary: 06488 housing price by bedroom type for January 2025, compared to the previous year. The home price for 1 bedroom homes increased by +13.7%. The home price for 2 bedroom homes increased by +19.5%. The home price for 3 bedroom homes increased by +3.4%. The home price for 4 bedroom homes increased by +16.9%. The home price for 5 bedroom homes increased by +1.2%.

Housing supply in 06488, CT

How many homes are available in 06488, CT?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
127Last MonthJan 2025
1312 months agoDec 2024
-3.1 %
Change MoMDec – Jan

Summary: The 06488 real estate market had 127 homes for sale in Jan 2025, a 3.1 % decrease compared to Dec 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
21Last MonthJan 2025
302 months agoDec 2024
-30.0 %
Change MoMDec – Jan

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsDec 2024Jan 2025Change MoM
178
+14.3%
25963
+6.8%
33229
-9.4%
42521
-16.0%
586
-25.0%

Summary: 06488 housing inventory by bedroom type for January 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +14.3%. The inventory for 2 bedroom homes increased by +6.8%. The inventory for 3 bedroom homes decreased by -9.4%. The inventory for 4 bedroom homes decreased by -16.0%. The inventory for 5 bedroom homes decreased by -25.0%.

Asking Price vs. Sold Price

How much do homes in 06488, CT cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price2 Homes

At Asking Price5 Homes

Under Asking Price14 Homes

Insight

If you're buying a home in 06488, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 21 homes were sold or pending in 06488 in January 2025, down by 30.0% month-over-month. Of the 21 sold homes, 67% were sold under asking, 24% were sold at asking, and and 10% were sold over asking.

Days on Market for 06488, CT

We’re sorry, we don't have information for this market at the moment.

Home sale times aren’t available for this area.

Connect With An Agent

Local real estate agents are ready to help you find a home here

Sell My Home

Sell your home with an expert or get the job done on your own.

Get Approved

Get a customizable mortgage solution based on today's rates.

Newest Listings in 06488, CT

What homes are available in 06488, CT?

See More Listings

Nearby markets

Popular Cities with Homes for Sale in Connecticut

MLS Disclaimers and Copyright

Based on information from SmartMLS, and OneKey MLS for the period 02/01/2023 - 02/01/2025

IDXCopyright © 2025 Smart MLS. The data relating to real estate for sale on this website appears in part through the SMARTMLS Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by SMARTMLS through a licensing agreement. Listing information is from various brokers who participate in the SMARTMLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/5/2025, 11:20:53 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX Listings courtesy of OneKey MLS as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS.

IDXThe data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

The source of the displayed data is either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed.

Information Copyright 2025, OneKey™ MLS. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.

This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
Last updated on: 2/5/2025, 10:56:48 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.