Boston, June 30, 2015 – Connecticut single-family home and condo sales posted gains in May, marking the fourth consecutive month of increases, according to the latest report by The Warren Group, publisher of The Commercial Record.
A total of 2,357 single-family homes sold in the Nutmeg State in May, up 13.8 percent compared with 2,072 sold during the same month in 2014. Year-to-date, sales climbed by 9.3 percent with 8,878 transactions completed, compared with 8,124 during the same timeframe a year ago.
The median price of a single-family home fell slightly by 0.3 percent in May to $265,000 compared with $265,750 a year ago. From January through May, prices fell 1.9 percent to $238,500 compared with $243,000 during the same time a year ago.
“Connecticut home and condo sales continue to rise as we head into the spring season,” said Cassidy Murphy, editorial director of The Warren Group. “As we start to see the actual numbers from the spring market in June and July, I believe the prices will also start to bump up slowly.”
Condominium sales statewide gained 1.5 percent in May, climbing to 627 condos sold up from 618 in May 2014. Year-to-date, condo sales were up 7.4 percent with 2,483 condos sold, compared with 2,312 during the same timeframe last year.
The median sales price for condos in May decreased by 2.8 percent, falling to $162,500 from $167,250 during the same month in 2014. Year-to-date, condo prices fell by 3 percent to $158,000 compared with $162,950.
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.