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Breen noticed a new wave of young professionals going into the real estate field directly out of college.
However, single-family residential home sales in Connecticut increased year-over-year, with 36,621 units sold in 2017 compared with 36,025 in 2016.
However, sales of townhouses and condominiums in Connecticut during November increased by 5.3 percent from November 2016.
Despite declining sales activity, the median sales price for single-family residences and townhouses and condominiums were up from one year ago.
Ann L’Altrella, a loan officer with Network Funding LP in Shelton, credited the 203(k) loan program with helping in the sale of older homes that are either stuck in an aesthetic time warp or are in need of more than cosmetic help.
However, sales in Connecticut of townhouses and condominiums dropped in August by 2.8 percent year-over-year, with 891 units sold last month versus 917 in August 2016.
The single-family home median sales price during May was $260,000, a 4 percent increase from the $249,900 level one year earlier.
On the Long Island Sound shore in Fairfield and Westchester countries, some property owners in the luxury homes market face a challenge in the wake of Sandy’s damage.