Connecticut home prices and sales rose in May, pointing to strong summer activity for it and other New England states, authorities say.
Connecticut’s median sales price for a single-family dwelling rose 2.4 percent last month from a year earlier, realty broker Re/Max of New England said Wednesday.
Connecticut’s May home sales also climbed 12.3 percent in May, and pending home sales rose 34.8 percent, Re/Max said.
Massachusetts lead all New England states with a 29.4 percent jump in year-over-year transactions. The median price also inched up 0.3 percent, making May the third straight month the median price has increased. Pending home sales are also up 30 percent year-to-year, pointing to strong home sales throughout the summer.
In Maine, the median sales price increased for the third consecutive month, up 6.9 percent year-over-year. Transactions also jumped 26.9 percent, while pending home sales are up 40.4 percent year-to-year. This points to strong home sales throughout the summer.
New Hampshire home sales jumped 26.7 percent year-over-year, and the median sales price remained virtually flat, down just 1.2 percent. Pending home sales also increased 30.6 percent year-to-year.
Rhode Island was the only state in May to experience declines in both total transactions, down 13.7 percent, and median sales price, down 14.6 percent.
Vermont experienced the second largest gain in home sales in New England, up 28.1 percent. Although the median sales price slipped 3.1 percent, pending home sales increased more than 34 percent.