Condo Sales, Median Price Edge Higher
Boston, December 5, 2017 – Single-family home sales in Connecticut jumped 3.8 percent in October compared to October 2016, according to the latest report from The Warren Group, publisher of The Commercial Record.
A total of 2,946 single-family homes were sold in Connecticut during the month of October, compared with 2,837 sold in October 2016. Meanwhile, the median price of a single-family home rose 2.9 percent in October to $247,000, compared with $240,000 a year ago.
“The Connecticut housing market continues to perform at an impressive level,” said Timothy Warren, CEO of The Warren Group. “This is the most single-family homes sold during the month of October in over a decade, while October condo sales haven’t seen this level of activity since 2007.”
Year to date, there were 29,090 single-family home sales as of October 2017, compared to 27,135 over the first 10 months of 2016 – a 6.9 percent increase. The year-to-date median price edged slightly higher to $250,000, compared to $248,571 over the same period of 2017.
Condominium sales in Connecticut also increased in October, rising 4.8 percent with 845 condos sold, up from 806 sold in October 2016. The median sale price for condos increased 0.3 percent to $160,000, compared to $158,000 in October 2016.
Year to date, there were 7,627 condo sales as of October 2017, a notable spike from the 6,992 sold over the first 10 months of 2016 – a 9.1 percent increase. The year-to-date median price was $162,500 in October 2017, a 0.3 percent decrease from last year’s $163,000.
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