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HARTFORD: Continuing good news for home sellers and Realtors Single-family home sales in Connecticut increased in July on a year-over-year basis. Price improvement was also part of the story as the median sale price hovered at a five-year high, according to the latest report from The Warren Group, publisher of The Commercial Record.

A total of 3,942 single-family homes were sold in Connecticut last month, compared to the 3,686 homes sold in July 2017 – a hefty 7 percent increase. The median single-family home price increased 4.1 percent on a year-over-year basis to $280,000, the median sale price remained unchanged from June.

Sales momentum has apparently picked up, year-to-date, single-family home sales totaled 19,517 transactions, only a 0.3 percent increase from the first seven months of 2017, compared to the 7% increase of this past month. The year-to-date median sale price of $260,000 marked a 4 percent increase over the same period.

“This is only the second time this year that the number of single-family home sales increased on a year-over-year basis,” said Cassidy Murphy, Associate Publisher & Media Relations Director of The Warren Group. “Connecticut’s single-family home inventory is approaching a more balanced market and has had a positive impact on prices.”

Condo owners also are feeling the love, with the number of condominium sales in Connecticut increasing on a year-over-year basis, rising 5 percent in July with 930 transactions, up from 886 transactions recorded a year earlier. The median sale price for condos also increased, rising 3.7 percent on a year-over-year basis to $175,000. Year-to-date, condo sales rose 1.1 percent, totaling 5,166 transactions, while the median sale price increased 1.9 percent to $165,000.

“The median condo sale price of $175,000 marked a four-year high,” Murphy continued. “Despite rising prices, condo sales have now surpassed 900 transactions for two consecutive months, reflecting nationwide housing preference trends for condos versus single-family homes.”

CONNECTICUT HOME SALES BY COUNTY                                                           

 

2017

2018

 

% Change

ALL COUNTIES

Number'of'Sales

3,686

3,942

 

6.9%

YTD'Number'of'Sales

19,451

19,517

 

0.3%

Median'Sale'Price

$269,000

$280,000

 

4.1%

YTD'Median'Sale'Price

$249,900

$260,000

 

4.0%

FAIRFIELD

   

'

 

Number'of'Sales

953

955

 

0.2%

YTD'Number'of'Sales

4,733

4,749

 

0.3%

Median'Sale'Price

$465,000

$499,000

 

7.3%

YTD'Median'Sale'Price

$455,000

$465,000

 

2.2%

HARTFORD

   

'

 

Number'of'Sales

984

998

 

1.4%

YTD'Number'of'Sales

4,931

4,889

 

E0.9%

Median'Sale'Price

$235,000

$249,825

 

6.3%

YTD'Median'Sale'Price

$220,000

$229,000

 

4.1%

LITCHFIELD

   

'

 

Number'of'Sales

192

249

 

29.7%

YTD'Number'of'Sales

1,185

1,237

 

4.4%

Median'Sale'Price

$240,000

$255,000

 

6.3%

YTD'Median'Sale'Price

$220,000

$230,000

 

4.5%

MIDDLESEX

   

'

 

Number'of'Sales

193

206

 

6.7%

YTD'Number'of'Sales

1,100

1,078

 

E2.0%

Median'Sale'Price

$270,000

$284,750

 

5.5%

YTD'Median'Sale'Price

$265,000

$269,800

 

1.8%

NEW)HAVEN

   

'

 

Number'of'Sales

770

886

 

15.1%

YTD'Number'of'Sales

4,269

4,425

 

3.7%

Median'Sale'Price

$239,000

$247,225

 

3.4%

YTD'Median'Sale'Price

$218,000

$230,000

 

5.5%

NEW)LONDON

   

'

 

Number'of'Sales

286

335

 

17.1%

YTD'Number'of'Sales

1,672

1,611

 

E3.6%

Median'Sale'Price

$235,000

$230,000

 

E2.1%

YTD'Median'Sale'Price

$220,000

$229,000

 

4.1%

TOLLAND

   

'

 

Number'of'Sales

185

201

 

8.6%

YTD'Number'of'Sales

843

878

 

4.2%

Median'Sale'Price

$240,000

$239,700

 

E0.1%

YTD'Median'Sale'Price

$210,000

$225,250

 

7.3%

WINDHAM

   

'

 

Number'of'Sales

123

112

 

E8.9%

YTD'Number'of'Sales

718

650

 

E9.5%