August 3, 2018

Home sales slow, median price climbs in June

Photo | New Haven Biz
Photo | New Haven Biz

Single-family home sales in Connecticut declined in June on a year-over-year basis while the median sale price climbed to a five-year high.

That's according to the latest report from the Warren Group, publisher of the Commercial Record.

A total of 3,753 single-family homes were sold in Connecticut this June, compared to the 3,927 homes sold in June 2017 — a 4.4-percent decrease. Meanwhile, the median single-family home price increased 2.9 percent to $280,000 — the highest median price achieved for the month of June since 2013.

Year-to-date, single-family home sales totaled 15,523 transactions, a 1.5-percent decrease from the first six months of 2017. Meanwhile, the year-to-date median sale price of $254,000 marked a 3.7-percent increase during the same period.

The number of condominium sales in Connecticut decreased on a year-over-year basis, falling 3.6 percent in June with 937 transactions, down from 972 transactions a year earlier. The median sale price for condos also edged lower, declining 2.3 percent on a year-over-year basis to $171,000, down from $175,000 in June 2017. Year-to-date, condo sales totaled 4,234 transactions with a median sale price of $164,000.

Long-term lease in Milford

Butzi Gear, LLC, a automotive performance, tuning and detailing firm that works on Porsche and other exotic automobile makes, has leased a 2,500-square-foot facility at 190 Buckingham Avenue in Milford. John Bergin and Rich Lombardo, both of Pearce Commercial's Milford office, represented both the tenant and landlord Ambergris, LLC in the transaction.

Class A Park City office space listed

Office suites from 2,100 square feet up to a full floor of some 23,000 square feet have been listed at 1000 Lafayette Boulevard in downtown Bridgeport. Built in 1989, the Class A office building was renovated in 2012.

The Norwalk office of Avison Young has the listing.

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