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Condominium sales up as median sale price edges lower

PEABODY, June 26, 2019 – Connecticut single-family home sales declined in May as the median sale price reached an 11-year high, according to the latest report from The Warren Group, publisher of The Commercial Record.

May single-family home sales totaled 3,110 transactions, a 2.1 percent decrease from May 2018 when there were 3,175 transactions. This marks ten consecutive months of single-family homes sales declining on a year-over-year basis. At the same time, the median single-family home price increased 6.7 percent on a year-over-year basis to $272,000 – an 11-year high for the month of May. Year-to-date, there have been 11,194 single-family home sales in Connecticut – a 5.3 percent decrease from the first five months of 2018. Year-to-date, the median sale price was recorded at $249,600 – a 1.5 percent increase.

“Single-family homes sales across Connecticut have now declined on a year-over-year basis for ten consecutive months,” said Tim Warren, CEO of The Warren Group. “May marked the first time this year that the median single-family home price has increased on a year-over-year basis. Reports are showing that inventory levels are down from where they were this time last year, so I wouldn’t be surprised to see similar spikes in the coming months as the summer market heats up.”

Condominium sales in Connecticut increased in May, rising 1.3 percent on a year-over-year basis with 861 transactions. This is compared to the 850 condo sales recorded in May 2018. Meanwhile, the median sale price dipped 1.4 percent to $170,000 compared to $172,000 a year earlier. Year-to-date, there have been 3,251 condo sales, a 1.5 percent decrease from the first five months of 2018, with a median sale price of $161,000 – a 0.6 percent increase.

“The median sale price for condos has now declined on a year-over-year basis for two straight months, and buyers are taking advantage,” Warren continued. “Local buyers know a deal when they see one, and as a result, sales numbers are up over the last three months.”


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