NEW HAVEN, Conn. (WTNH) — More than half of homes that sold in Connecticut last year were purchased over their list price, according to market research from Zillow.

The real estate website estimated that 51.1% of home sales in the state were over the list price, while 35.7% were under the list price. Once a home was on the market, it took 12 days until a sale was pending.

The typical price of a home that sold last year in Connecticut was $360,950, a 9.7% increase from the year before, according to Zillow. That’s a sharp jump from the average sale of $262,517 in the fall of 2022, right before prices skyrocketed.

In Berlin, homes were the most expensive, with more than half selling for more than $369,753. That’s followed by Middletown, with a median price of $292,456, and then New Britain, at $234,406.

Homes in Hartford saw one of the biggest year-over-year jumps in home value among large metro areas, at an average increase of 10.15%. Ranked in seventh place, it is still far behind Miami’s 19.7% year-over-year increase.

During that same time, rent in Hartford increased by 6.8%.

Katie Westrin of William Ravies Real Estate told News 8 the market is entering a transitional period.

“The interest rates today are not what they were in the spring and in the summer. So, the buyers are starting to be a little more discerning. And, putting a halt on these bids that are going well over asking because they’re not able to be borne out by the appraisers who get involved,” Westrin said.