Condo Median Sale Price Dips
Boston, August 29, 2017 – Single-family home sales in Connecticut jumped 12.7 percent in July compared to July of 2016, according to the latest report from The Warren Group, publisher of The Commercial Record.
A total of 3,641 single-family homes were sold in Connecticut during the month of July, compared with 3,230 sold in July 2016. The median price of a single-family home increased 2.7 percent in July to $267,000, compared with $260,000 a year ago.
Year to date, there were 19,287 single-family home sales in 2017, compared to 17,786 over the first seven months of 2016 – a 8.4 percent increase. The year-to-date median price was $249,000, compared to $245,728 over the same period of 2016.
“Even a moderate increase in the median sale price is welcome news in Connecticut,” said Timothy Warren, CEO of The Warren Group. “Although the year over year price increase has remained relatively flat, prices have been on the rise in recent months – a positive sign in a statethat has seen the median price decline in two of the past three years.”
Condominium sales in Connecticut increased in July by 8.0 percent with 875 condos sold, up from 810 in July 2016. The median sale price for condos in July dropped by 2.9 percent to $167,500, compared to $172,500 in July 2016.
Year to date, there were 5,080 condo sales in 2017, compared to 4,548 over the first seven months of 2016 – an 11.8 percent increase. The year-to-date median price was $162,000 in July 2017, 0.3 percent lower than last year’s $162,500.