Sales and prices for single-family homes and condominiums in Connecticut were down in October from one year earlier, according to data from The Warren Group.
Last month, 2,868 single-family homes were sold in Connecticut, down from the 2,961 homes sold in October 2017. Year-to-date, there were 28,752 single-family home sales in the state, down 1.5 percent from the first 10 months of 2017. Also on the decline were home prices: the median single-family home price for October was $247,000, a 0.4 percent drop from the previous year. However, the year-to-date median sale price of $260,000 was 4 percent above the same period last year.
On the condominium side of Connecticut’s housing market, there were 843 sales in October, down from the 851 sales one year earlier. The median sale price last month of $155,000 was lower than the $161,500 price from one year earlier. Nonetheless, year-to-date condo sales totaled 7,710 transactions with a median sale price of $165,000, a 1.2 percent uptick from the first 10 months of 2017.
“The declining sales numbers for both single-family homes and condos isn’t surprising based on recent trends,” said Timothy Warren, CEO of Boston-based The Warren Group. “This is the third consecutive month that single-family homes have declined year over year, and the second consecutive month for condos on the same basis.”