Sales of single-family homes in Connecticut were 12 percent higher in August from a year earlier, according to a new study, with condominium sales up 15 percent.
Nearly 2,600 houses changed hands in August, according to the Boston-based Warren Group, the fourth straight month sales have surpassed the 2,000 mark. Year-to-date sales have are up 12.9 percent to above 16,200 homes. Over the first eight months of the year, the median home sold for $10,000 less than the median home price during the same stretch in 2011.
The Warren Group does not break out sales at the county level. Last month the Connecticut Department of Economic and Community Development reported a sustained push by builders for new construction permits in Fairfield County.
“Even though we are comparing to a slow market in 2011, the 12 percent increase is a promising indicator,” said Warren Group CEO Timothy Warren Jr., in a prepared statement. “In past housing market recoveries, we’ve seen sales volume increase before prices followed. Perhaps these low prices will lure even more buyers into the market and bring a sustained recovery.”
The nearly 650 condos sold in August represented the highest monthly total this year, with year-to-date sales up 5.8 percent, but the median condo’s price $15,000 below that of 2011.
