The median price of single-family homes sold in Connecticut during 2020 reached a new record, as sales volume for the year also jumped by double digits, according to the real estate data tracker and publisher The Warren Group.
Connecticut’s 2020 median sale price was $300,000, up by more than 15% from 2019, while single-family home sales rose nearly 17%, reaching 38,641.
Despite a second-quarter slump related to the COVID-19 pandemic, sales surged in the latter half of the year, tallying 24,984 for those six months alone.
“The local real estate market stumbled during the second quarter as the reality of the situation surrounding COVID-19 started to set in,” Warren Group CEO Timothy Warren said in a statement. “However, this didn’t have any long-term negative impacts on the market. Instead, the historically hot spring real estate market was just delayed until the third quarter. Once July and August rolled around, things went gangbusters.”
Condominium activity also increased last year, notching 9,167 sales, up slightly from 2019 but the highest volume on record since 2007.
The median sale price increased by 12%, reaching $187,000 ‒ a decade high, according to Warren Group.
