August 30, 2017

CT house, condo sales higher in July

Stuart Miles, FreeDigitalPhotos.net
Stuart Miles, FreeDigitalPhotos.net
Connecticut home sales posted gains in July, according to the Warren Group.

Connecticut's housing market posted strong sales gains in July, triggering a modest increase in median sales prices for one-family dwellings, the latest sales tally shows.

Single-family home sales in Connecticut jumped 12.7 percent in July compared to July of 2016, according to the latest report from The Warren Group, publisher of The Commercial Record.

There were 3,641 single-family homes sold statewide last month, a 12.7 percent gain from the 3,230 units sold in July 2016, according to The Warren Group, publisher of The Commercial Record. Their median price rose 2.7 percent last month to $267,000 vs. $260,000 a year ago, Warren said.

"Even a moderate increase in the median sale price is welcome news in Connecticut," said Timothy Warren, CEO of The Warren Group. "Although the year over year price increase has remained relatively flat, prices have been on the rise in recent months – a positive sign in a state that has seen the median price decline in two of the past three years."

Condominium sales statewide rose 8 percent in July to 875 units vs. 810 a year ago. However, their median fell 2.9 percent to $167,500 vs. $172,500 in July 2016.

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