Following the news last week that single-family home sales were up in Greater Hartford, comes the news that Connecticut followed the same trend in December. Sales prices were down for the state.
Connecticut Realtors reported that single-family residential home sales in December increased 10.9 percent, compared to a year earlier. The median sales price of $242,000 represents a 1.2 percent decrease from $245,000 in that same time period. Total homes sold were 2,850 in December 2015 vs. 2,571 in December 2014.
December townhouses and condominium sales in Connecticut decreased 7.9 percent. The median sales price of $146,700 represented a 6.2 percent decrease from $156,425 in 2014. Total units sold were 606 in December 2015 and 658 in December 2014.
Statistics released from the National Association of Realtors indicate total December home sales nationwide (including single-family homes, townhomes, condominiums and co-ops) increased 7.7 percent. The median national home sales price was $224,100 in December. Regionally, Northeast home sales increased 11.9 percent in December with a median sales price of $255,700.
Mike Feldman, 2016 president of Connecticut Realtors, said the 10.9 percent increase in total units sold is a positive sign that Connecticut real estate is regaining traction. It’s a trend he expects to continue through 2016.
“The continuation of strong sales numbers in 2016, sub 4 percent mortgage rates for traditional 30 year fixed loans and historically low gas prices will allow people to reduce existing debt or increase down payments. Lower mortgage payments equals more home affordability or increased savings,” said Feldman in a statement.
