Condo activity also experiences notable gains on year-over-year basis.
PEABODY, March 4, 2020 – Connecticut single-family home sales experienced notable gains in January on a year-over-year basis as the median sale price also trended higher, according to the latest report from The Warren Group, a leading provider of real estate and transaction data.
January single-family home sales totaled 1,998 transactions, a 6.6 percent increase from January 2019 when there were 1,875 transactions. Meanwhile, the median price of a single-family home rose 6.9 percent on a year-over-year basis to $251,000, compared to $235,000 in January 2019. This marked a 12-year high for the January median single-family home price.
“Following a streak of gains at the end of 2019, Connecticut single-family homes started the new year on a high note,” said Timothy Warren, CEO of The Warren Group. “In fact, the median sale price of $251,000 marked a 12-year high for the month of January. I’ll be interested to see if activity remains strong as the spring housing market approaches.”
Condominium sales in Connecticut also increased, rising 4.7 percent on a year-over-year basis with 559 transactions. On the same basis, the median sale price for condos spiked 5.2 percent to $161,000 – the highest price for the month of January since 2015.
“This is the second year in a row that the January median sale price has increased on a year-over-year basis,” Warren continued. “The median year-end condo price has steadily risen over the last three years, and condos starting 2020 off on the right foot is a hopeful sign that this year will be no different.”
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