Boston, Mar. 9, 2015 – Single-family home sales in the Nutmeg State fell by 6.3 percent in January, marking the first time sales have decreased year-over-year since August 2014, according to the latest report by The Warren Group, publisher of The Commercial Record.
A total of 1,357 single-family homes sold in Connecticut during the month compared with 1,448 sold in January 2014. This marked the lowest number of sales in the month of January since January 2012 when there were 1,332 sales.
The median price of a single-family home was unchanged in January, remaining at $230,000, the same price as a year ago. This ended ten months of consecutive decreases in median prices.
“Connecticut single-family home sales dropped in January but I don’t feel this is a reason to become alarmed,” said The Warren Group CEO, Timothy M. Warren Jr. “Prices, however held steady after months of decreases and condos even gained a little. I think as we see the year get under way and the weather improve, sales should start to pick up.”
Condominium sales statewide posted a 6.2 percent decrease in January, climbing to 363 condos sold up from 387 the same time a year ago. The median sales price for condos in January posted a slight gain of almost 1percent, increasing to $163,800 from $162,500 in January 2014.
The Warren Group offers a range of real estate products, information services and printed publications, including the weekly newspapers Banker & Tradesman and The Commercial Record. The company also presents and organizes trade shows and events for a variety of industries, including bankers, mortgage brokers, credit unions and lawyers. Based in Boston, the company was established in 1872 and is now in its fourth generation of family ownership and management. For more information about The Warren Group, visit www.thewarrengroup.com.