Connecticut”™s residential real estate market started 2017 with a bang, as single-family home sales experienced a 23 percent year-over-year increase in January, according to data from The Warren Group, publisher of The Commercial Record trade journal. The 2,130
But while sales were up, prices took a dip. The median price of a single-family home in Connecticut in January was $225,000, down 1.9 percent from $230,000 a year earlier. This was the first decline in year-over-year prices in five consecutive months.
The state”™s condominium sales also enjoyed a banner January, with 578 condos sold ”“ a 32.3 percent spike from the 437 sold in January 2016, and the highest January sales output since the 919 sales level from 2007. But as with single-family homes, the median sale price for condos in January took a dive: $149,000, down 0.7 percent from the $150,000 in January 2016. This marked the lowest median sale prices for Connecticut condos in 13 years, when prices reached $132,700 in 2003.