The housing market in the Bridgeport, CT metro area presents a complex landscape as of February 2025, characterized by rising prices and declining sales activity. The Median Sales Price has increased to $610,000, marking a modest year-over-year (YoY) growth of 1.2%. In contrast, the Median List Price has surged by 11.3% YoY, reaching $734,450, indicating a widening gap between seller expectations and buyer affordability.

Price metrics further highlight the upward trend, with the median Price Per Square Foot rising by 17.5% YoY to $325.46. Similarly, the Median List Price per square foot has increased by 8.6% YoY, now standing at $343.44. These figures suggest a strong demand for housing, despite the challenges in affordability.

However, the sales volume tells a different story. The number of Homes Sold has decreased by 1.9% YoY, totaling 475 units. Pending Sales have also dropped significantly by 9.1% YoY, with 710 transactions currently in the pipeline. New Listings have seen a sharp decline of 13.6% YoY, amounting to 648, while inventory has contracted by 20.4% YoY, now at 1,268 homes. This reduction in supply is reflected in the Months of Supply, which has plummeted by 60.0% YoY to 2.7 months, indicating a tight market.

The Median Days on Market have slightly decreased by 3.0% YoY to 48 days, suggesting that homes are still selling relatively quickly. The average sale to list ratio remains robust at 100.8%, though it has dipped by 0.6% YoY. The proportion of Homes Sold above list price has decreased by 6.0% YoY to 44.2%, reflecting a potential cooling in competitive bidding.

Price reductions have become more common, with 10.3% of listings experiencing Price Drops, an increase of 1.5% YoY. Additionally, the percentage of homes going off the market within two weeks has decreased by 5.6% YoY to 40.7%, indicating a slight slowdown in buyer urgency.

Overall, the Bridgeport housing market is characterized by rising prices and constrained supply, which are impacting sales activity. While demand remains strong, affordability challenges and limited inventory are shaping the current market dynamics.