Waterbury Housing Market December 2024 Trends You Need to Know

A stunning evening view of Waterbury, CT, showcasing the vibrant city lights and iconic architecture.

As we step into a new year, let's take a moment to reflect on the Waterbury, Connecticut housing market for December 2024. The data reveals fascinating insights into pricing trends across various property types, showcasing a dynamic and competitive market. Here’s a detailed breakdown:

Single-Family Homes

• 2-Bedroom Homes:

  • Average Sale Price: $248,500

  • Percentage of Asking Price: 100%

  Buyers seeking 2-bedroom homes found themselves paying full asking prices on average, reflecting consistent demand for these smaller, more affordable homes.

• 3-Bedroom Homes:

  • Average Sale Price: $295,070

  • Percentage of Asking Price: 102%

  The competitive market for 3-bedroom homes led to buyers paying 2% above the asking price, highlighting their popularity among families and first-time homebuyers.

• 4-Bedroom Homes:

  • Average Sale Price: $263,571

  • Percentage of Asking Price: 123%

  Remarkably, 4-bedroom homes commanded an average of 23% above asking price, indicating strong competition and a scarcity of inventory in this category.

Condos

• Average Sale Price: $161,860

• Percentage of Asking Price: 99%

  Condominiums saw nearly full-price offers on average, making them an attractive option for buyers looking for affordability and low-maintenance living.

Multi-Family Properties

• 2-Family Properties:

  • Average Sale Price: $340,429

  • Percentage of Asking Price: 101%

  Investors and owner-occupants paid slightly over asking for 2-family properties, underscoring their value as income-producing assets.

• 3-Family Properties:

  • Average Sale Price: $402,714

  • Percentage of Asking Price: 99%

  While still competitive, the 3-family market saw prices hover just below full asking price, offering potential opportunities for buyers seeking multi-family investments.

• 4-Family Property:

  • Sale Price: $495,000

  • Only one 4-family property closed in December, making it a rare find in Waterbury’s market.

Market Overview

December 2024 demonstrated a highly competitive real estate market in Waterbury, with most property types selling at or above their asking prices. The significant demand for 4-bedroom homes and multi-family properties highlights the ongoing trend of buyers seeking space and investment opportunities.

For buyers, understanding these trends is crucial for navigating this competitive landscape. For sellers, the data indicates strong opportunities to maximize their returns in this thriving market.

As the market evolves, staying informed will be key to making the best decisions. Whether you're looking to buy or sell in Waterbury, connect with a local real estate professional to ensure you're prepared for the opportunities and challenges ahead.

Stay tuned for more market updates and insights to help you succeed in your real estate journey!

Thinking of Selling Your Home in Waterbury?

The market is hot, and buyers are paying top dollar! Contact us today for a free home valuation and personalized selling strategy. Don’t miss out on maximizing your home’s value!