Connecticut home sales and prices take a tumble

By Phil Hall

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The state’s housing market experienced negative growth in September, according to a pair of new data studies.

The Warren Group, the Boston-based publisher of the trade journal The Commercial Record, reports that single-family home sales dropped by 3.6 percent on a year-over-year basis during September, with a total of 2,814 single-family homes sold during the month versus 2,919 sold in September 2015. On a year-to-date measurement, single-family home sales totaled 24,134 transactions, up 8.4 percent from the 22,257 sales during the period last year.

The Warren Group also determined that the median price of a single-family Connecticut home increased by 2.3 percent in September to $250,000; in September 2015, the median price was $244,400 a year ago. On a year-to-date measurement, prices reached $249,900, below last year’s $250,000 level.

Separately, new data released by CoreLogic, an Irvine, Calif.-based property information provider, placed Connecticut among two states that experienced year-over-year home price depreciation for September, with a 1.4 percent decline.

The only other state where home prices took a tumble from a year ago was Alaska, which saw a relatively scant 0.3 percent dip. Nationwide, CoreLogic found a 6.3 percent year-over-year home price appreciation, and the most robust state markets were Washington and Oregon with increases of 10.3 percent and 10.1 percent, respectively.

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