Spurred by federal tax credits and rising consumer sentiment, Connecticut sales of single-family homes and condominiums jumped in October, according to The Warren Group.
Despite higher sales, median sales prices continue to tank, the Boston data publisher said.
“The tax credit that’s being offered to homebuyers has certainly stimulated home sales in Connecticut and elsewhere,” said CEO Timothy Warren Jr. ‘’And while unemployment remains a concern, I think people who have jobs are probably feeling a bit more optimistic about the financial markets and the overall economy. That’s making them more willing to go out and make big purchases like buying a home.”
Single-family home sales rose 11.5 percent to 2,371 in October from 2,126 the same month a year ago, reversing September’s sales decline, Warren Group said.
Middlesex, Windham and Fairfield counties had the biggest sales increases.
The median single-family home price slid 4.4 percent in October to $239,000 from $250,000. The median price for homes sold from January through October tumbled 11.3 percent to $242,140 from $273,000 a year ago.
Condominium sales rose in October 10.2 percent to 802 from 728 in October 2008.
October’s median condo sale price fell 5.3 percent to $180,000 from $190,000 a year earlier. Year-to-date median condo prices are down 11 percent to $178,000 from $200,000.
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