Single-family home sales in Connecticut surged 33 percent in June – the seventh straight monthly increase – and low mortgages may sustain the trend, according to The Warren Group.
There were 3,477 single-family homes sold in June, up from 2,612 a year earlier, the Boston housing analyst said. Sales eclipsed 3,000 for the first time since August 2007.
In the second quarter, 8,105 Connecticut residences were sold, up 35.3 percent from the 5,992 sold the same period in 2009. That is the highest since the third quarter of 2007, Warren Group said.
“Single-family home sales in Connecticut have been steadily increasing by double-digit percentages,” said CEO Timothy M. Warren Jr. “The homebuyer tax credit served its purpose and pushed buyers into the market. Low mortgage rates may help to continue the trend for the second half of the year.”
The federal tax credit for first-time homebuyers expired in May.
Fairfield County posted the largest gain in June sales, soaring 62 percent to 905 from 558 in June 2009.
The median sale price for Connecticut houses rose just above 3 percent to $264,900 in June from $257,000 during the same month last year. The year-to-date median home price is $245,000, 3.61 percent higher than $236,475 recorded a year ago.
Fairfield and Tolland counties were the only areas of the state where the median home price increased in June. In Fairfield County, the median price in June increased 4.7 percent to $502,500 from $480,000 a year earlier.
In Tolland County, the median price rose 2 percent to $249,900 from $245,000 a year earlier.
Statewide condominium sales also grew in June. Condo sales soared 45 percent to 1,043 from 720 in June 2009.
The median condo selling price increased 5.5 percent to $186,000 from $176,250. The year-to-date median condo price is up 2.86 percent to $180,000 from $175,000.
In the second quarter, condo sales almost doubled from a quarter ago. Condo sales rose to 2,439 in the second quarter up from 1,335 in the first quarter of this year. Sales of condos also shot up from a year earlier when there were 1,683 sales.
