For the first time in 12 months, single-family home sales in Connecticut showed a gain in median sales price. Total sales volume was also at its highest in nine years.
According to The Warren Group, publisher of The Commercial Record, the median price of a single-family home rose by 0.8 percent in April to $240,000 compared with $238,200 in the year-ago period. That’s the first percentage gain in median price after 12 consecutive months of price declines. Year-to-date, prices have decreased by 0.3 percent to $230,000 compared with $230,625 during the same time a year ago.
Single-family home sales in Connecticut rose 16.2 percent in April. A total of 2,340 single-family homes sold in Connecticut during the month compared with 2,014 sold in April 2015.
That represents the largest April sales month since 2007, when there were 2,674 homes sold.
Year-to-date, sales were up 22.7 percent with 7,992 transactions compared with 6,515 during the same timeframe a year ago.
“Single-family home sales have hit double-digit percentage increases for six consecutive months, the first time since 2010,” said Timothy M. Warren Jr., CEO of The Warren Group. “Homebuyers are taking advantage, as prices remain below their peak values.”
Condominium sales in Connecticut posted a double-digit increase in April, rising 18.7 percent to 659 condos sold, up from 555 the same time a year ago. Year-to-date, condo sales were up 16 percent with 2,152 condos sold compared with 1,855 during the same timeframe last year.
The median sale price for condos in April posted a slight decrease of 3.9 percent, slipping to $157,000 from $163,450 in April 2015. Year-to-date, median condo sale prices fell by 4.4 percent to $150,079.
