Median Sale Prices Post Modest Gain

Boston, November 2, 2016 – Single-family home sales in the Nutmeg state decreased by 3.6 percent in September, according to the latest report from The Warren Group, publisher of The Commercial Record.

A total of 2,814 single-family homes were sold in Connecticut during the month of September compared with 2,919 sold in September 2015. \Year-to-date, sales were up 8.4 percent with 24,134 transactions, compared with 22,257 during the same timeframe a year ago.

The median price of a single-family home rose 2.3 percent in September to $250,000, compared with $244,400 a year ago. Year-to-date, prices are flat at $249,900 compared with $250,000 during the same time a year ago.

Condominium sales in Connecticut decreased in September by 14.8 percent with 686 condos sold, down from 805 in September 2015. Year-to-date, condo sales were up 3.1 percent with 6,127 condos sold compared with 5,943 during the same timeframe last year.

The median sale price for condos in September decreased by 6.1 percent to $165,000, compared to 175,740 in September 2015. Year-to-date, median condo sale prices took a slight drop 0.3 percent to $164,500, compared with $165,000 at the same time last year.

“The Connecticut housing market appears to be healthy,” said Timothy Warren, CEO of The Warren Group. “However the year–over-year gains in sales volume in the first half of the year were robust while the third quarter has turned lackluster. The condo market had a soft showing in September.

 

Customers use The Warren Group to identify new business opportunities through access to comprehensive real estate and mortgage data, analytics, industry news coverage, networking, and education opportunities.  Based in Boston, the company was established in 1872 and is now in its fourth generation of family ownership and management. It is publisher of Banker & Tradesman, The Commercial Record and Registry Review and architect behind some of the leading events and conferences for banking, legal, and real estate professionals in all of New England. For more information visit www.thewarrengroup.com.