Sales figures for single-family homes and condos decline on year-over-year basis

Nov. 29, 2018 (PEABODY, MA) – Single-family home and condominium sales in Connecticut decreased in October as prices also declined on a year-over-year basis, according to the latest report from The Warren Group, publisher of The Commercial Record.

 A total of 2,868 single-family homes were sold in Connecticut in October, compared to the 2,961 homes sold in October 2017 – a 3.1 percent decrease and the third consecutive month that sales have declined on a year-over-year basis. Meanwhile, the median single-family home price edged 0.4 percent lower to $247,000. Year-to-date, single-family home sales totaled 28,752 transactions, a 1.5 percent decrease from the first 10 months of 2017. Meanwhile, the year-to-date median sale price of $260,000 marked a 4 percent increase over the same period.

 “The declining sales numbers for both single-family homes and condos isn’t surprising based on recent trends,” said Timothy Warren, CEO of The Warren Group. “This is the third consecutive month that single-family homes have declined year-over-year, and the second consecutive month for condos on the same basis.”

 The number of condominium sales in Connecticut decreased on a year-over-year basis, falling 0.9 percent in October with 843 transactions, down from 851 transactions a year earlier. The median sale price for condos also declined, falling 0.6 percent on a year-over-year basis to $155,000, down from $161,500 in October 2017. Year-to-date, condo sales totaled 7,710 transactions with a median sale price of $165,000 – a 1.2 percent increase from the first 10 months of 2017.

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