January 23, 2019

CT home prices hit 5-yr. high in '18

HBJ File Photo
HBJ File Photo

Connecticut home prices rose in December to their highest in five years, said Boston publisher-home sales tracker The Warren Group. Condo prices posted their best performance since 2015.

There were 2,454 house sold statewide last month, a slight decline from 2,473 units sold the final month of 2017, Warren Group data shows.

Last month's batch of house sale bore a median price -- meaning half sold for more, half for less -- of $247,000.

But year-to-date track of home prices yielded a median price of $258,000, 3.2 percent greater than the median as of Dec. 2017 and the highest since 2013, CEO Tim Warren said.

"While a year-end median price of $258,000 is impressive, it's still more than 13 percent below the peak,'' he said. "In 2007, the statewide median sale price reached a record of $295,000."

In the statewide condo market, 682 sold last month -- unchanged from a year earlier, Warren said.

Their one-month median sale price fell 2.7 percent to $162,000 from $166,500 in Dec. 2017. Year-to-date condo sales were flat at 9,067 transactions, but were the most since 2007.

Meanwhile, the year-to-date median condo price reached $165,000 – a 1.2 percent increase from 2017 and the highest median year-end condo price since 2015.

Free E-Newsletters

Sign up now for our daily and weekly
e-newsletters! Click Here

Today's Poll Should Connecticut legalize the recreational use of marijuana?<>
Most Popular on Facebook
Copyright 2017 New England Business Media