Affordable Housing, Announcements, Reports and Publications

Connecticut Home Prices on the Decline Since 2007

The Warren Group
 

Data from the Warren Group shows that the median sales price of single-family homes in CT decreased 2.9% from 2011 to 2010, dropping from $250,000 to $243,000. Connecticut single family home prices have been steadily dropping since 2007 when prices peaked at $300,000, according to the real estate data compiled by the Warren Group. The median price for single family homes sold in December dropped from $243,000 in 2010 to $220,000 in 2011, almost a 9.5% decrease.

Middlesex County was the only county that saw an increase in median sales price, posting a 2% rise from $255,000 in 2010 to $260,000 in 2011. Litchfield County had the largest decrease in median sales price, a 5.3% drop from $227,000 in 2010 to $215,000 in 2011. The other counties all experienced decreases in 2011 median sales price: Fairfield County (-2.1%), Hartford County (-4.0%), New Haven County (-2.8%), New London County (4.2%), Tolland County (-4.4%), and Windham County (-3.9%).

Connecticut saw a 13% decrease in the volume of single-family home sales, from 24,270 in 2010 to 21,141 in 2011. This is the lowest number of house sales on record. 

Condo sales in Connecticut continued this downwards trend. Condo median sales prices dropped 6.2% from $182,250 in 2010 to $173,250 in 2011. December median sales prices alone decreased twice as much as the prices in 2011. December 2011 saw a 12.8% decrease to $167,000 from $191,500 in December 2010. New London County saw the largest decrease in median condo sale price, with a 20% drop from $175,000 in 2010 to $140,000 in 2011. Tolland County was the only county with an increase in median sales price for condos, a 4.5% rise from $155,000 in 2010 to $162,000 in 2011.

The Commercial Record article is here

 

 
 

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