Connecticut”™s housing market hit new median price peaks in October, according to new data from The Warren Group.
Single-family home sales during October totaled 2,907 transactions, up slightly from the 2,879 transactions recorded one year earlier. The median single-family home sale price for the month was $255,000, a 3.7% year-over-year increase and a 12-year high for the month of October. While the year-to-date figure of 27,992 single-family home sales in Connecticut was 2.7% below the level in the first 10 months of 2018, the median sale price hit $262,000, up by a 0.8% from the same period last year.
“The median single-family home price experienced a notable gain in October,” said Tim 
Warren, CEO of The Warren Group, publisher of The Commercial Record in Peabody, Massachusetts. “The last high for October was at the housing market”™s peak in 2007 when single-family homes achieved a median sale price of $280,000. Although October prices are still 10 percent behind where they were back then, year-to-date prices are trending higher.”
On the condominium side of the market, the 812 transactions in October was down from the 843 sales recorded one year earlier. But while sales were down, prices were up: the sector”™s median sale price rose on a year-over-year basis to $168,000 compared with $155,000 from one year earlier, which marked a five-year high for the median condo sale price in October. Year-to-date, there have been 7,616 condo sales, a 1.2% decline from the first 10 months of 2018, and the median sale price of $165,000 was down by 0.3 percent from the same period in 2018
“This is the second month in a row that the median condo price has increased on a year-over-year basis ”“ marking a strong finish to the summer market,” Warren said. “Despite the streak, the year-to-date numbers continue to lag behind where they were in 2018.”
