CORRECTION: A previous version incorrectly reported the Hartford area media home sales price declined. It rose.
Connecticut homeowners received a bit of good news Wednesday with two pieces of fresh data showing continued stabilization in the state’s housing market as sales picked up speed in August. Hartford area home sales also rode that wave, authorities say.
Connecticut experienced a 15.9 percent increase in home sales last month, and 48.1 percent increase in pending home sales, according to the New England Monthly Housing Report by RE/MAX.
Both increases were the largest experienced by any New England state.
The positive activity for Connecticut’s housing market suggests a strong selling season throughout the fall, realty experts say.
Dan Breault, executive vice president and regional director of RE/MAX of New England, said pricing should remain favorable for buyers over the next few months, but a decrease in inventory may give sellers an advantage.
Overall, the number of units sold in New England has increased up to 20 percent year-over-year, and the number of pending sales is up 33 percent on average.
“Prices dipped as the summer came to a close, but sales throughout the fall should remain active due to favorable pricing” Breault said.
In central Connecticut, sales rose 25 percent to 941 units last month, according to the Greater Hartford Association of Realtors.
The median price of a single-family dwelling sold in August also rose, by 2.5 percent, to $235,000, the association said.
Area condo sales, however, rose 28 percent to 207 units in August, while median price fell 2 percent to $156,000.
