Marking the third month of gains in a row, Connecticut single-family home and condominium sales increased in April, according to the latest report by Boston-based The Warren Group, publisher of The Commercial Record.
A total of 2,014 single-family homes sold in the state in April, a 10.5 percent increase compared with 1,822 sold during the same month in 2014. This was the highest number of sales for the month of April since 2010, The Warren Group said. Year-to-date, sales climbed by 7.8 percent with 6,525 transactions completed compared with 6,052 during the same time frame a year ago.
The median price of a single-family home fell by 2.8 percent in April to $238,200 compared with $245,000 a year ago. From January through April, prices fell 2.1 percent to $230,000 compared with $235,000 during the same time a year ago.
Condo sales statewide increased 9 percent in April, climbing to 555 condos sold up from 509 in April 2014. Year-to-date, condo sales were up 9.5 percent, with 1,855 condos sold compared with 1,694 during the same time frame last year.
The median sale price for condos in April decreased by 5.4 percent, falling to $163,450 from $172,900 during the same month in 2014. Year-to-date, condo prices also fell by 2 percent to $157,000 compared with $160,250.
“Connecticut home and condo sales in April indicate that the market is off to a strong start in the spring season,” Timothy M. Warren Jr., CEO of The Warren Group, said in a statement. “With sales on the rise for the third month this year, prices will eventually start to rise as demand builds.”
