Connecticut’s housing market is heading into the fall with buyers still facing limited inventory and sellers showing little willingness to cut prices.

As of mid-September, Zillow showed roughly 6,800 homes for sale statewide, with nearly 1,400 homes selling during the first two weeks of the month. More than 2,000 new listings also entered the market, but price reductions remained relatively limited.

That stands out as other parts of the country begin to see more sellers adjust their asking prices. Nationally, about 26% of listings received a price reduction in August, reflecting the pressure created by elevated mortgage rates and more cautious buyers. In Connecticut, however, sellers have generally continued to hold their ground.

Fairfield County provides a clear example. Only 6.7% of active listings had experienced a price cut, down from 7.2% earlier in the year. While individual sellers have made substantial reductions in some communities, they remain the exception rather than the rule.

The lack of inventory is a major reason. Connecticut buyers continue to compete for desirable homes, keeping sellers in a stronger negotiating position even as mortgage rates limit purchasing power.

At the same time, the market is beginning to show some signs of seasonal change. Realtor.com expects late September through early October to offer buyers more opportunities as inventory builds and some sellers become more willing to negotiate.

For Connecticut homeowners considering a sale, the current market still provides meaningful pricing power. For buyers, however, waiting for widespread discounts may not produce the opportunities seen in other states.

Connecticut’s fall housing market could ultimately come down to a battle between rising inventory and stubbornly high demand. If inventory continues to increase, buyers may gain some negotiating leverage. But as long as supply remains below what the market needs, sellers are likely to remain reluctant to make major price concessions.