Single-family home sales in Connecticut up nearly 21 percent in March

By Kevin Zimmerman

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Single-family home sales in Connecticut climbed 20.9 percent in March, according to the latest report from real estate sales and ownership data firm The Warren Group.

A total of 2,139 single-family homes sold in Connecticut during the month, compared with 1,768 sold in March 2015 — the highest number of sales in the month of March since 2007, when there were 2,636 homes sold. Year-to-date, sales were up 25.6 percent with 5,652 transactions, compared with 4,501 during the first quarter of 2015.

The median price of a single-family home fell by 3 percent in March to $225,000, compared with $232,000 a year ago, marking the 12th consecutive month of price drops year over year. Year-to-date, prices decreased by 1.1 percent to $227,000 compared with $229,475 during the same time a year ago.

“The median price of a single-family home fell 3 percent in 2014, another 2 percent in 2015 and 1 percent so far this year,” noted Warren Group CEO Timothy M. Warren Jr. “Home shoppers are active while prices remain well below their peaks in 2007.”

Condominium sales statewide posted a double-digit increase in March, with 564 condos sold, an increase of 11 percent from the 507 sold in March 2015. Year-to-date, condo sales were up 14.7 percent with 1,493 condos sold compared with 1,301 during the same time frame last year.

The median sale price for condos in March posted a slight decrease of 3.3 percent, falling to $145,000 from $150,000 in March 2015. Year-to-date, prices fell by 3.8 percent to $149,000 compared with $155,000.

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