Connecticut Condo Market 2026: Why Inventory Is Rising
Something different is happening with Connecticut condos.
In August 2025, SMARTMLS reported 1,467 condos in its Homes for Sale category statewide.
One year later, that number had climbed to 1,781.
That's an increase of 21.4% in one year.
During the same period, the number of single-family homes barely moved. SMARTMLS reported 5,828 single-family homes for sale in August 2025 and 5,820 in August 2026.
Before you conclude that Connecticut suddenly has a lot of condos for sale, there's some important context.
Connecticut condos are still firmly in a seller's market. We're seeing condo inventory climb from very low to low.
The interesting question is why condo inventory is rising while we're not seeing the same thing with single-family homes.
One note about the data: SMARTMLS's historical Homes for Sale report includes active listings and homes that are under contract but continue to show. That means the historical totals are higher than the number of homes actually available to purchase. However, the MLS uses the same method each month, which allows us to compare the trend over time.
Is the Connecticut Condo Market Getting Weak?
I compared Connecticut condo sales over two 12-month periods.
From September 11, 2024 through September 10, 2025, 7,690 condos sold.
During the following 12 months, 7,631 sold.
That's a decline of less than 1%.
Meanwhile, the median sale price increased from $297,250 to $310,000, an increase of about 4.3%.
Median days on market increased from 10 days to 15 days. The average sale-to-list-price ratio slipped from 101.9% to 101.1%.
Even with the longer selling time, condos are still selling relatively quickly, prices are rising, and the number of sales is almost unchanged.
The condo market remains a strong seller's market.
How Much Condo Inventory Is There?
Despite the 21% year-over-year increase, Connecticut still doesn't have a lot of condos for sale.
Based on the condos currently on the market and the number sold over the past 12 months, Connecticut has roughly 2.1 months of condo inventory.
Months of inventory is a simple way to compare the number of homes for sale with the pace of sales. At the recent sales pace, 2.1 months of inventory means it would take a little over two months to sell the condos currently for sale if no new ones came onto the market.
That's why the 21% increase needs context. Inventory has increased substantially, but it remains low.
So where are the additional condos coming from?
Is New Construction Causing the Increase?
There are 91 condos currently for sale that were built in 2026 or later. Many are concentrated in new developments where several units are for sale at the same time.
New construction is clearly adding inventory, but it doesn't explain the entire increase.
The SMARTMLS historical count increased by 314 condos between August 2025 and August 2026.
Even if every one of the 91 new condos for sale today represented additional inventory that didn't exist last year, that would equal only about 29% of the increase.
And that's an intentionally generous comparison.
New construction is part of the story, but it can't explain most of the increase.
Resale condos have to be part of it too.
Where Is Condo Inventory Highest Today?
The statewide average of about 2.1 months of condo inventory hides some significant local differences.
Hartford County has about 1.4 months of inventory, while New Haven and Fairfield counties have about 2.4 and 2.3 months.
The differences can be even larger from town to town.
New Haven has about 4.1 months of condo inventory, while Danbury and Southbury are each around 3.1 months.
Stamford has about 2.3 months, even though it has more condos for sale than any other town in the state. That's because Stamford also sells a lot of condos.
Where a condo is located can matter much more than the statewide inventory number suggests.
Does Price Matter?
It does.
Condos priced from $200,000 to $299,999 have about 1.9 months of inventory. From $300,000 to $399,999, it's about 1.7 months.
From $500,000 to $749,999, there are about 2.4 months of inventory. From $750,000 to $999,999, there are about 2.9 months. At $1 million and above, it's also about 2.9 months.
Interestingly, the lowest-priced condos don't have the lowest inventory. Condos below $200,000 have about 2.5 months.
A buyer looking for a $300,000 condo is dealing with a different market than someone shopping at $800,000.
What Do HOA Fees Tell Us About Condo Inventory?
I wondered whether a sharp increase in HOA fees could help explain the rise in condo inventory, but the data didn't support that.
The median reported HOA fee among condos that sold increased from about $376 per month to $391 per month, or roughly 4%.
But months of inventory changes considerably as HOA fees increase.
Condos with HOA fees below $300 per month have about 1.7 months of inventory. Between $300 and $499, it's about 1.8 months.
From $500 to $699, inventory increases to about 2.9 months. From $700 to $999, it's about 3 months, and condos with HOA fees of $1,000 or more have about 3.9 months.
A higher HOA fee isn't necessarily bad. Fees can pay for pools, clubhouses, elevators, utilities, exterior maintenance and other services. What the fee covers and the financial condition of the association matter.
But the HOA payment also affects affordability.
A condo may have a lower purchase price than a single-family home, but the HOA fee adds to the buyer's monthly housing expense. Most single-family homes don't have that additional monthly payment.
The data doesn't prove that higher HOA fees cause higher months of inventory. Price, location, age, amenities and other factors could also contribute.
But condos with higher HOA fees currently have more months of inventory than those with lower fees.
What About Special Assessments?
There's another condo expense this analysis can't measure well: special assessments.
An association may need money for a roof, paving, siding, structural repairs or another major expense. If its reserves aren't enough, owners can be charged a special assessment.
For example, a condo with a $400 monthly HOA and no assessment is very different from one with a $400 HOA and a $500/month special assessment for the next 5 years.
I don't have reliable statewide data showing which condo associations currently have special assessments, so they aren't included in this analysis.
If special assessments at a few large complexes were driving a significant part of the statewide inventory increase, I would expect to find large concentrations of listings in those developments. I didn't.
So Why Is Connecticut Condo Inventory Rising?
The simplest answer may also be the most important one: more condo owners are putting their homes on the market while the number of condos being purchased has remained about the same.
Condo sales were essentially flat over the past year, declining just 0.8%. At the same time, the SMARTMLS inventory count increased 21.4%.
New construction accounts for some of the additional supply, but there aren't enough new units to explain most of the increase. That means more resale condos are entering the market.
SMARTMLS doesn't let me recreate the exact group of condos that were for sale a year ago, so I can't determine which types of resale condos account for the increase.
What I can see today is that months of inventory vary considerably by location, price range and HOA fee.
What Does This Mean If You're Buying a Connecticut Condo?
A 21% increase in statewide condo inventory doesn't mean buyers suddenly have the upper hand. This is still a strong seller's market.
But some buyers have more choices than they would have had a year ago, and the amount of competition can vary significantly by town, price range and HOA fee.
A buyer looking at a $325,000 condo with a $350 monthly HOA can face a very different market from someone looking at an $850,000 condo with a $900 HOA.
Before deciding how aggressive to be with an offer, look at the months of inventory for the condos you're considering.
What Does This Mean If You're Selling a Connecticut Condo?
More condo owners are putting their homes on the market, which means there is more competition among sellers statewide than there was a year ago.
But that competition isn't the same everywhere.
Before pricing a condo, look at the months of inventory in your town and price range, along with the other units for sale in your complex. HOA fees and competing new construction can also affect the choices buyers have.
In a market where inventory is growing, understanding the competition matters more than relying on a statewide statistic.
The Bigger Connecticut Housing Story
Connecticut condo inventory has increased substantially over the past year, but it remains low.
What makes this worth watching is that single-family inventory isn't doing the same thing.
More condo owners are putting their homes on the market while condo sales remain essentially flat. So far, we aren't seeing a similar increase in the supply of single-family homes.
If that continues, Connecticut's condo and single-family markets could begin to look very different.
Thinking about buying or selling a Connecticut condo?
The statewide numbers only tell part of the story. If you want to know what the condo market looks like in your town and price range, contact me and I'll help you make sense of the numbers.
