Boston, June 3, 2015 – Connecticut single-family home and condo sales gained in April, marking the third consecutive month of increases, according to the latest report by The Warren Group, publisher of The Commercial Record.
A total of 2,014 single-family homes sold in the Nutmeg State in April, a 10.5 percent increase compared with 1,822 sold during the same month in 2014. This was the highest number of sales for the month of April since 2010 when there were 2,139 homes sold. Year-to-date, sales climbed by 7.8 percent with 6,525 transactions completed compared with 6,052 during the same timeframe a year ago.
The median price of a single-family home fell by 2.8 percent in April to $238,200 compared with $245,000 a year ago. From January through April, prices fell 2.1 percent to $230,000 compared with $235,000 during the same time a year ago.
“Connecticut home and condo sales in April indicate that the market is off to a strong start in the spring season,” said Timothy M. Warren Jr., CEO of The Warren Group. “With sales on the rise for the third month this year, prices will eventually start to rise as demand builds.”
Condominium sales statewide gained 9.0 percent in April, climbing to 555 condos sold up from 509 the same time a year ago. Year-to-date, condo sales were up 9.5 percent with 1,855 condos sold compared with 1,694 during the same timeframe last year.
The median sales price for condos in April decreased by 5.4 percent, falling to $163,450 from $172,900 in during the same month in 2014. Year-to-date condo prices also fell by 2.0 percent to $157,000 compared with $160,250.
The Warren Group offers a range of real estate products, information services and printed publications, including 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.