Single-family home and condominium sales in Connecticut slumped during February, according to new data from The Warren Group.
Last month’s single-family home sales in the state totaled 1,606 transactions, down from the 1,173 transactions recorded one year earlier. This marked the lowest number of February single-family home sales since 2015. Also on the decline was the median single-family home price, which dropped from $236,000 in February 2018 to $224,000 last month, marking a three-year low for the month of February. Year-to-date, there have been 3,443 single-family home sales in Connecticut with a median sale price of $230,000.
Meanwhile, condominium sales in Connecticut totaled 475 transactions, down from the 496 transactions one year earlier. The median sale price for condominiums remained unchanged from February 2018 at $145,000. Year-to-date, Connecticut condominium sales totaled 994 transactions with a median sale price of $148,500.
“Even though the number of condo sales declined on a year-over-year basis, the level of activity we saw isn’t unusual for the month of February,” said Timothy Warren, CEO of The Warren Group in Peabody, Massachusetts. “In fact, the last time we saw more than 500 condo transactions in February was more than 10 years ago in 2008.”