Median single-family home, condominium prices also experience uptick.

PEABODY, October 30, 2019 – Connecticut single-family home and condominium sales increased in September as both property types experienced modest price gains on a year-over-year basis, according to the latest report from The Warren Group, publisher of The Commercial Record.

September single-family home sales totaled 2,797 transactions, a 6.7 percent increase from September 2018 when there were 2,621 transactions. At the same time, the median single-family home price rose 0.8 percent on a year-over-year basis to $260,000 – an eleven-year high for the month of September. Year-to-date, there have been 25,007 single-family home sales in Connecticut – a 3.3 percent decrease from the first nine months of 2018. Year-to-date, the median sale price hit $264,000 – a 1.5 percent increase from 2018.

“Although single-family home sales saw a significant gain in September, the 2019 total is still well behind where it was year-to-date in 2018,” said Tim Warren, CEO of The Warren Group. “I expect single-family sales to remain sluggish as the market winds down, and I don’t foresee a major spike during the final months of the year to pull the number of sales even with 2018.”

Condominium sales also increased in September, rising 2.2 percent on a year-over-year basis with 750 transactions. This is compared to the 734 condo sales recorded in September 2018. Meanwhile, the median sale price rose 0.6 percent on a year-over-year basis to $164,000 compared to $163,500 in September 2018. Year-to-date, there have been 6,790 condo sales, a 1.1 percent decrease from the first nine months of 2018, with a median sale price of $165,000, a 1.5 percent decrease.

“This is the first time the September median condo price increased on a year-over-year basis since September 2015,” Warren continued. “Despite the increase, the year-to-date numbers continue to illustrate a lackluster condo market.”

 

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Customers use The Warren Group to identify new business opportunities through access to comprehensive real estate and mortgage data, analytics, and industry news coverage. The Warren Group was established in 1872 and is now in its fourth generation of family ownership and management. It is the publisher of Banker & Tradesman, The Commercial Record, and Registry Review. For more information visit www.thewarrengroup.com.