Connecticut recorded an 8.5 percent year-over-year increase in single-family home sales during October, according to data released by The Warren Group, the publisher of real estate trade journal The Commercial Record.
During October, 2,830 single-family homes were sold in Connecticut, compared with 2,608 sold in October 2015. On a year-to-date, sales were up 8.4 percent with 26,964 transactions, compared with 24,865 transactions in the same 10-month period one year earlier.
The median price of a single-family home in Connecticut increased by 2.1 percent in October to $240,000; in October 2015, the median price was $235,000. Year-to-date, prices dropped by 0.6 percent to $248,500 from the $250,000 level in the same time period in 2015.
In the Connecticut condo market, sales recorded a 13 percent year-over-year increase, with 806 condos sold in October versus 713 in October 2015. Year-to-date, condo sales were up 4.2 percent with 6,933 condos sold compared with 6,656 one year earlier, while the median sale price for condos in October increased by 1.9 percent to $158,000, up from $155,000 in October 2015. Year-to-date, median condo sale prices dropped by 1.5 percent to $162,500, compared with $165,000 at the same time last year.
“The Connecticut housing market rebounded a bit in October and remains healthy,” said Timothy Warren, CEO of The Warren Group. “Two of the prior three months had shown declines in sales volume. October got things turned back in the right direction.”