In July 2024, the real estate markets served by William Pitt and Julia B. Fee Sotheby’s International Realty in Connecticut, New York and Massachusetts saw a rise in sales compared to the previous year’s figures for the same month.
Inventory levels also showed significant improvement in July. Each region experienced an increase in total inventory, along with a rise in the dollar volume of new listings compared to July 2023. The number of new listings to come to market grew in nearly all areas, with only a few exceptions.
These developments reflect the continuation of a positive trend that began earlier this year, marking a significant recovery after several quarters of declining sales and inventory. These results are also consistent with the forecasts presented in our second quarter 2024 market report, which provides a comprehensive analysis of our market predictions and is available to read online here.
In Westchester County, New York, closed dollar volume for single family homes rose this month by 10% and unit sales by 2% compared to July 2023. In Connecticut, closed dollar volume in Fairfield County in July increased from the same period last year by 22% and unit sales by 10%. In the Connecticut Shoreline markets, New Haven County saw volume climb ahead by 37% and units by 19%, Middlesex saw volume increase by 4% and units by 2%, and New London County saw volume increase by 13% and units by 9%. In Hartford County, dollar volume was up year over year by 27% and unit sales by 13%, while in Litchfield County, volume grew by 24% as units increased by 7%. In Berkshire County, Massachusetts, closed volume was up by 20%, while unit sales were down by 8%, making it the only market to experience a decline.
Accompanying comprehensive charts provide a detailed overview of July data across all market areas, comparing July 2024 to the same month in 2023, sourced from various MLSs.
