Connecticut home sales in July posted their best one-month gain in nearly a decade, a Boston business publisher says. However, prices softened.
There were 3,415 single-family homes sold statewide in July, up 8.2 percent from a year earlier — the most in a single month since August 2007, The Warren Group, publisher of The Commercial Record, said Wednesday.
Through the first seven months of this year, 15,775 houses have sold — an 11.9 percent increase from the 14,050 sold from January through July 2014.
“Inventory is good in most areas and the pace of home sales has picked up while prices fall in tandem,” said Warren Group Editorial Director Cassidy Murphy. “July’s numbers reflect the continued steady growth of the housing market this year.”
The median for a Connecticut home sold in July was $271,000, down 1.4 percent from the year-earlier median of $275,000. Year to date the median sales price is $250,000, down 1.9 percent from $255,000 through July last year.
Condominium sales statewide rose 12 percent in July from a year earlier, posting 857 sales that month vs. 765 a year earlier. Median condo price that month also dropped 6.1 percent to $169,900 from $180,000 in July 2014.
Year to date there have been 4,215 condo sales, a 9.7 percent increase compared to the 3,832 transactions through the first seven months of 2014. The median price year to date has dropped 3.5 percent to $164,000 this year; it was $170,000 through July 2014.
