Prices Flat at the Start of the Year
Boston, March 8, 2016 – Connecticut recorded 1,717 single-family home sales in January, the most sales to start the year since January 2007. The sales signified a 24.9 percent increase from last year’s January total of 1,357. The median sale price for a single-family home was unchanged at $230,000, according to a new report from The Warren Group, publisher of The Commercial Record.
“For months we have seen the number of homes sold in Connecticut rise while median price slipped a bit, suggesting a buying opportunity too good for consumers to pass up,” said Timothy Warren Jr., CEO of The Warren Group. “The strong 24.9 percent gain in sales volume in January is the biggest percentage gain since April 2012. This just goes to show that homes are being gobbled up while prices are below the peaks they achieved a decade ago.”
Condominium sales in Connecticut rose 16.0 percent in January compared to January 2015, posting 436 sales this year compared with 376 last year. The median sales price for condos dropped 11.2 percent from $169,000 in January 2015 to $150,000 this year.