A tech company that monitors real estate showings found that the New Haven, Bridgeport and Hartford markets were among the busiest in the nation in April.
ShowingTime, a Chicago-based provider of showing and market statistics and an affiliate of Zillow, found that Bridgeport reported an 6% increase in the ratio of showings to listing year over year, for an average of 14.55 showings per listing.
New Haven’s ratio of showings to listing rose 1% year-over-year, with an average of 13.48 showings per listing. Both cities ranked in the top 25 markets nationally for their showing-to-listing ratio, an indication of higher buyer competition.
Overall, U.S. real estate showings slowed in April, with a 10.7% year-over-year decline in buyer demand, according to ShowingTime. Only 103 markets across the country recorded double-digit showings per listing in April, compared to 146 in April 2021 and 121 in March of 2022.
By region, the Northeast showed a drop of 8.6% in buyer demand, with the Midwest showing the smallest drop with a 7.3% year-over-year decline. Declines were sharpest in the South, with an 11.6% drop in showing activity year-over-year, and the West with a 35.3% drop.
ShowingTime attributed the general declines to both tapering demand and comparisons to 2021’s record demand, adding that “the numbers still indicate robust buyer activity,” according to a statement.
Other areas of high buyer activity in the region include Burlington, Vt., Hartford and Lewiston, Maine.
Contact Liese Klein at lklein@newhavenbiz.com.
