Connecticut’s single-family home sales flattened in September but sales overall rose in the third quarter, The Warren Group reports.
There were 2,150 single-family sale transactions in September, just below the 2,164 units sold in September 2008, the Boston publisher of The Commercial Record says.
The slight sales dip came after home sales in Connecticut rose two consecutive months year-over-year.
For the three months ended Sept. 30, single-family sales totaled 7,672, up 2.7 percent from 7,474 in third quarter 2008. Year-to-date sales fell 11.3 percent to 17,208 from 19,398 last year.
“September didn’t deliver the gains in sales volume that the previous two months did. Still, single-family home sales in the third quarter managed to creep up a bit from last year, and the first-time homebuyer tax credit and lower home prices statewide helped to drive that increase,” said Timothy M. Warren Jr., CEO of The Warren Group. “It’s clear that Connecticut’s housing market is still struggling and has a way to go before it recovers.”
The statewide median price for single-family homes sold in September dropped 8.4 percent to $238,225 from $260,000, Warren Group said. It was the smallest decline in monthly median home prices year-over-year so far in 2009.
The third quarter median home price tumbled 10.7 percent to $250,000 from $280,000 last year. Year-to-date the median price has retreated 11.6 percent to $243,000 from $275,000.
The median condo price in September was $182,000, down 8.8 percent from $199,500 in September 2008. The median price for condos sold in the third quarter fell 10 percent to $180,000 from $200,000 last year. The year-to-date median condo price plummeted 11.5 percent to $177,000 from $200,000.
