Year-end sales numbers reach 11-year high
BOSTON, January 30, 2017 – Single-family home sales in Connecticut fell 9.4 percent last month compared to December 2016, but sales numbers for the full year 2017 reached a post-recession high, according to the latest report from The Warren Group, publisher of The Commercial Record.
A total of 2,472 single-family homes were sold in Connecticut during the month of December, compared with 2,705 sold in December 2016. Meanwhile, the median price of a single-family home rose 2.2 percent in December to $245,000, compared with $240,000 a year ago.
Despite the year-over-year decline, year-end single-family sales numbers reached pre-recession highs not experienced since 2006. Last year, single-family home sales totaled 34,259 – a 5.0 percent increase from 2016 – while the median sale price hit $249,900 – a 1.6 percent increase from 2016.
“Despite single-family home sales falling in December, the sales volume for 2017 for the whole year 2017 was impressive,” said Timothy Warren, CEO of The Warren Group. “In another positive market indicator, the median sale price increased for the second year in a row. However, the median price for 2017 still lags 15.3 percent behind peak pricing in 2007.”
Condominium sales in Connecticut also declined in December, falling 5.9 percent with 682 condos sold, down from 722 sold in December 2016. The median sale price for condos increased 0.9 percent to $166,500, compared to $165,000 in December 2016.
Year-to-date, there were 9,054 condo sales at the end of December, a notable uptick from the 8,336 sold during the course of 2016 – a 7.9 percent increase. The year-to-date median price was $163,000, an increase of 0.3 percent from last year’s $162,500.
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