Single-family home sales in Connecticut up 16 percent in April

By Kevin Zimmerman

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Sales of single-family homes in Connecticut increased by 16.2 percent in April, according to the latest report from real estate sales and ownership data firm The Warren Group.

A total of 2,340 single-family homes sold in Connecticut during the month, compared with 2,014 sold in April 2015 – the highest number of sales in the month of April 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 period in 2015.

The median price of a single-family home rose by 0.8 percent in April to $240,000 compared with $238,200 a year ago — the first percentage gain in median price after 12 consecutive months of price drops year-over-year. Year-to-date, prices have decreased by 0.3 percent to $230,000 compared with $230,625 during the same period a year ago.

“Single-family home sales have hit double-digit percentage increases for six consecutive months, the first time since 2010,” remarked Warren Group CEO Timothy M. Warren Jr. “Home buyers are taking advantage, as prices remain below their peak values.”

Condominium sales in the state posted a double-digit increase in April, rising 18.7 percent to 659 condos sold, up from 555 in April 2015. Year-to-date, condo sales were up 16.0 percent with 2,152 condos sold compared with 1,855 during the same period last year.

The median sale price for condos in April posted a decrease of 3.9 percent, from $163,450 last year to $157,000. Year-to-date, median condo sale prices fell by 4.4 percent to $150,079 compared with $157,000.

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