BOSTON, August 5, 2014 – Connecticut single-family home sales recorded a 5.8 percent increase in the month of June, marking the fourth time in 2014 that sales have increased year-over-year, according to the latest report by The Warren Group, publisher of The Commercial Record.
A total of 2,799 single-family homes sold in June, up from 2,646 a year earlier. This marked the best month for sales since last August, when 2,897 homes were sold. Second quarter sales decreased by 4.9 percent with a total of 6,679 sales recorded compared with 7,020 during the second quarter of last year.
“The housing market in Connecticut is showing signs of improvement as we see the biggest percentage gain in monthly home sales so far this year,” said The Warren Group CEO Timothy M. Warren Jr. “Real estate closings in June, July and August are typically the highest of the year as the deals made during the spring selling season get officially recorded. While not robust, the Connecticut real estate market continues to show a solid recovery.”
Year-to-date home sales statewide were down almost 2 percent. From January to June, a total of 10,887 single-family homes were sold, compared with 11,101 during the same period a year ago. Year-over-year home prices fell 3.2 percent in June. The median sales price of a single-family home statewide decreased to $276,000 in June, down from $285,000 in June 2013.
The year-to-date median sales price fell 2.0 percent to $250,000 compared with $255,000 during the same period last year. Quarterly prices were also down 2.6 percent to $263,000 compared with $270,000 during the second quarter 2013.
Connecticut condominium sales recorded a big gain in June, rising almost 14.1 percent from a year earlier. A total of 760 condos sold in June, compared with 666 a year earlier. Year-to-date condo sales were up 3.8 percent to 3,067 from 2,955 a year earlier.
In the second quarter, 1,883 condos were sold, up 3.1 percent from 1,827 during the same period a year ago.
The median selling price for condos in June was $180,000, up 2.9 percent from $175,000 a year earlier. The second quarter median condo price fell less than 1 percent to $174,000 from $175,000 in the second quarter 2013. The year-to-date median price of condos in the Connecticut was $166,000, down 1.2 percent from $168,000 a year ago.