Connecticut single-family home sales up in October

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.”