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Aglaia Pikounis
The Warren Group
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Michelle Laczkoski
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Connecticut Home Sales, Prices Increase In January
Condo Sales Climb, Price Remains Flat
BOSTON, March 1, 2010 – The median price for single-family homes in Connecticut climbed 6 percent in January compared to a year earlier, while sales increased for the fourth consecutive month, according to a report today by The Warren Group, publisher of The Commercial Record.
The median price for single-family homes sold statewide in January rose 6.2 percent to $238,900 from $225,000 in January 2009. It was the second month in a row that median prices increased year-over-year and a sharp contrast to the start of last year when home prices were falling by 25 to 35 percent. There were 1,277 single-family home sales recorded in January, up 19.5 percent from 1,069 a year earlier.
“Connecticut’s housing market has been steadily improving over the last several months. January was the third straight month that sales increased year-over-year by double-digit percentages,” said Timothy M. Warren Jr., CEO of The Warren Group. “Still, the big unknown is whether home sales will continue to increase when the homebuyer tax credit expires and the Federal Reserve stops purchasing mortgage-backed securities.”
Fairfield County led the state with significant gains in sales volume and prices. The county’s home sales surged almost 60 percent in January to 352 from 222 a year earlier. The median home price shot up 30 percent to $485,000 from $373,500.
Hartford County was the only area of the state to see prices dip in January. The median home price slipped 4.7 percent to $200,000 from $209,900 in January 2009.
Like single-family home sales, condo sales transactions increased statewide in January. Sales jumped 12.5 percent to 395 from 351 in January 2009, marking four straight months of double-digit percentage increases in year-over-year sales. The median condo price in January, $185,000, was unchanged from a year earlier.
Complete statistics for cities, towns and counties available to members of the media by request.
About The Warren Group
The Warren Group, based in Boston, is the publisher of Banker & Tradesman, The Commercial Record and a series of association publications. As the premier provider of real estate data in New England, The Warren Group offers a range of real estate products and services for professionals and consumers searching for real estate and financial information. For more information about The Warren Group, please visit www.thewarrengroup.com or call 800-356-8805.