Connecticut single-family home sales recorded a 5.8 percent increase in June, marking the fourth month in 2014 that sales have increased year over year, but second-quarter sales overall were down, along with their prices.
Condos proved the most active market, with sales up more than 14 percent month over month and sale prices up nearly 3 percent for June even as prices for those units declined minutely for the full second quarter.
The data were released by Boston-based real estate and business publisher The Warren Group.
A total 2,799 single-family homes sold in June, up from 2,646 a year earlier. This marked the best month for sales since August 2013, when 2,897 homes were sold.
Second-quarter sales decreased, however, by 4.9 percent, with 6,679 sales recorded compared with 7,020 during the second quarter of last year. Prices on those sales declined, too.
“The housing market in Connecticut is showing signs of improvement as we see the biggest percentage gain in monthly home sales so far this year,” said The Warren Group CEO Timothy M. Warren Jr. “Real estate closings in June, July and August are typically the highest of the year as the deals made during the spring selling season get officially recorded. While not robust, the Connecticut real estate market continues to show a solid recovery.”
Year-to-date home sales statewide were down almost 2 percent. From January to June, 10,887 single-family homes were sold, compared with 11,101 during the same period a year ago.
Year-over-year home prices fell 3.2 percent in June. The median sale price of a single-family home statewide decreased to $276,000 in June, down from $285,000 in June 2013. The year-to-date median sale price fell 2 percent, to $250,000, compared with $255,000 during the same period last year.
Quarterly prices were also down 2.6 percent, to $263,000, compared with $270,000 during the second quarter of 2013.
Connecticut condominium sales recorded a gain in June, rising almost 14.1 percent from a year earlier.
A total of 760 condos sold in June, compared with 666 a year earlier. Year-to-date condo sales were up 3.8 percent, to 3,067, from 2,955 a year earlier.
In the second quarter, 1,883 condos were sold, up 3.1 percent from 1,827 during the same period a year ago.
The median selling price for condos in June was $180,000, up 2.9 percent from $175,000 a year earlier. But the second-quarter median condo price fell less than 1 percent, to $174,000, from $175,000 in the second quarter of 2013.
The year-to-date median price of condos in Connecticut was $166,000, down 1.2 percent from $168,000 a year ago.
