Condo Sales Trend Lower
Boston, September 26, 2017 – Single-family home sales in Connecticut increased 1.4 percent in August compared to August 2016, according to the latest report from The Warren Group, publisher of The Commercial Record.
A total of 3,829 single-family homes were sold in Connecticut during the month of August, compared with 3,776 sold in August 2016. Meanwhile, the median price of a single-family home increased 1.9 percent in August to $265,000, compared with $260,000 a year ago.
Year to date, there were 23,142 single-family home sales in 2017, compared to 21,562 over the first eight months of 2016 – a 7.3 percent increase. The year-to-date median price was $250,000, compared to $249,500 over the same period of 2016.
Condominium sales in Connecticut fell in August by 4.1 percent with 912 condos sold, down from 951 in August 2016. Over the same period, the median sale price for condos in August dropped by 0.6 percent to $169,000, compared to $170,000 in August 2016.
Year to date, there were 6,000 condo sales in 2017, compared to 5,499 over the first eight months of 2016 – a 9.1 percent increase. The year-to-date median price was $162,500 in August 2017, 1.2 percent lower than last year’s $164,500.
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