Single-family home sales in January hit their highest mark since January 2007, but median sales prices remained stagnant.
According to The Warren Group, publisher of The Commercial Record, Connecticut recorded 1,717 single-family home sales in January, the most sales to start the year since January 2007. The sales signified a 24.9 percent increase from last January’s total of 1,357.
The median sale price for a single-family home was unchanged at $230,000.
The strong sales increase is the biggest percentage gain since April 2012. “This just goes to show that homes are being gobbled up while prices are below the peaks they achieved a decade ago,” said Timothy Warren Jr., CEO of The Warren Group. He added the volume of sales increases with no price increase was a buying opportunity too good for consumers to pass up.
Condominium sales in Connecticut rose 16 percent in January, compared to a year earlier, posting 436 sales. The median sales price for condos dropped 11.2 percent from $169,000 in January 2015 to $150,000 this year.
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