Median Sale Prices Post Modest Gain
Boston, December 6, 2016 – Single-family home sales in Connecticut increased by 8.5 percent in October, according to the latest report from The Warren Group, publisher of The Commercial Record.
A total of 2,830 single-family homes were sold in the Nutmeg State during the month of October compared with 2,608 sold in October 2015. Year-to-date, sales were up 8.4 percent with 26,964 transactions, compared with 24,865 during the same time a year ago.
The median price of a single-family home rose 2.1 percent in October to $240,000, compared with $235,000 a year ago. Year-to-date, prices took a slight dip to $248,500 compared with $250,000 during the same time a year ago, a decrease of 0.6 percent.
Condominium sales in Connecticut increased in October by 13.0 percent with 806 condos sold, up from 713 in October 2015. Year-to-date, condo sales were up 4.2 percent with 6,933 condos sold compared with 6,656 during the same time frame last year.
The median sale price for condos in October increased by 1.9 percent to $158,000, compared to 155,000 in October 2015. Year-to-date, median condo sale prices took a slight decrease of 1.5 percent to $162,500, compared with $165,000 at the same time last year.
“The Connecticut housing market rebounded a bit in October and remains healthy,” said Timothy Warren, CEO of The Warren Group. “Two of the prior three months had shown declines in sales volume. October got things turned back in the right direction.”
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.