Connecticut’s home buying market experienced positive growth to start 2020 as sales and prices continued to rise in January, new data shows.
Sales of single-family dwellings in January grew to 1,998 closings, up 6.6% from 1,875 in the same month a year earlier, Boston publisher The Warren Group said Wednesday.
The median price for houses sold, meantime, rose nearly 7% from $235,000 to $251,000. That marked a 12-year high for January median single-family home prices, Warren Group CEO Timothy Warren said.
“Following a streak of gains at the end of 2019, Connecticut single-family homes started the new year on a high note,” Warren said. “I’ll be interested to see if activity remains strong as the spring housing market approaches.”
In the condo-townhome market, January sales increased 4.7% from a year earlier with 559 transactions. Their median price also rose 5.2% to $161,000, which is the highest price for the month since Jan. 2015.
January’s median home sale price has now increased on a year-over-year basis in two consecutive years.
“The median year-end condo price has steadily risen over the last three years, and condos starting 2020 off on the right foot is a hopeful sign that this year will be no different,” he said.
