Single-family home sales and prices in Connecticut were down during March while the state’s condominium saw upward motion, according to new data from The Warren Group, publisher of The Commercial Record.
Last month saw 1,983 single-family home sales, down from the 2,081 transactions recorded in March 2018. This marks the eighth consecutive month when sales were down on a year-over-year basis. The median single-family home price was $243,000, down from $247,000 one year ago. Year-to-date, there have been 5,491 single-family home sales in Connecticut, a 7.5% decrease from the first quarter of 2018, while the year-to-date median sale price of $235,000 is 2.1% lower than the same period last year.
On the flip side, condominium sales in Connecticut rose to 650 transactions, up from the 636 sales recorded in March 2018. The median sale price for this sector inched up to $163,500 compared with $162,500 a year earlier. Year to date, there have been 1,660 condo sales in Connecticut, a 5.9% decrease from the first three months of 2018, while the median sale price of $155,000 is 0.8% above the same period last year.
“March condo prices have steadily risen on a year-over-year basis since 2017,” said Cassidy Norton, associate publisher and media relations director at The Warren Group. “Even though the March median sale price is trending upwards, it still has a long way to go before achieving the high of $204,000 seen in 2007, at the housing market’s peak.”