Connecticut home sales in June continued their nearly year-long slide, while statewide condominium demand remained on an upslope, new data shows.
There were 3,516 home closings recorded statewide last month vs. 3,786 sold the same month a year ago — a 7.1 percent decline, according to the latest survey from Boston business publisher The Warren Group.
June posted the 11th consecutive month of declining year-over-year single-family homes sales, Warren Group CEO Tim Warren said.
The median June home sale price — meaning half the homes sold for more, the rest for less — dipped 0.5 percent, to $280,000.
Through the first half of 2019, there have been 14,746 homes sold statewide – a 5.5 percent decrease from the first six months of 2018, Warren said. Year-to-date, the median sale price hit $256,000, or a 0.4 percent increase.
“The real estate market is softening in Connecticut, just as recent data show on a national basis,’’ Warren said in the report. “The big question is whether demand continues to be strong, but the supply of homes for sale in all price ranges is scarce. Or has the market passed its peak despite a strong economy? Either way, I wouldn’t be surprised to see this trend continue in the coming months.”
Condo sales rose 2.3 percent in June, recording 962 transactions statewide, vs. 940 condo sales recorded in June 2018, Warren Group said. Their median sale price spiked 6.2 percent on a year-over-year basis to $181,600 vs. $171,000 in June 2018.
“The condo market was a bright spot for the Connecticut housing market last month,” Warren said.
Year-to-date, there have been 4,219 condo sales, a 0.5 percent decrease from the first six months of 2018, with a median sale price of $165,000 – a 0.6 percent increase.
