Single-family residential home sales in Connecticut increased 19.2 percent in January but the median sales price showed a slight decline.
Connecticut Realtors reported January’s median sales price of $232,000 represents a less than 1 percent decrease from $234,000 a year earlier.
Total units of homes sold in Connecticut were 1,977 in Jan. 2016 and 1,659 in Jan. 2015.
Townhouses and condominium sales in Connecticut decreased 0.9 percent from year to year, with a median sales price of $148,500 representing a 6 percent decrease from $158,000 in Jan. 2015. Total units sold were 457 in Jan. 2016 and 461 in Jan. 2015.
The Greater Hartford Association of Realtors reported last week that Hartford area 2016 home sales were off to an unusually strong start, with unit sales and prices both rising in January. There were 631 single-family dwellings sold last month vs. 543 in January 2015 – a 6.4 percent gain.
Statistics released from the National Association of Realtors indicate total home sales nationwide (includes single-family homes, townhomes, condominiums and co-ops) increased 11 percent comparing Jan. 2016 to Jan. 2015; and the median national home sales price is $213,800. Regionally, Northeast home sales increased 20.6 percent in that same time period; with a median sales price of $247,500.
“Looking ahead, I expect that the Connecticut real estate market is going to be driven by even lower mortgage rates. We are seeing rates almost as low as in 2012,” said Mike Feldman, 2016 president of Connecticut Realtors. He added that lower home heating oil and gasoline prices will also contribute to a real estate boon.
