Affordable Housing, Community Development, State News

June Continues the Trend -Home Sales Increase While Prices Decline

The Commercial Record
 

Following the trend of positive growth, June became the 5th consecutive month of single-family home and condo sale increases. The newest report from The Warren Group shows a 20% increase in single-family home sales from 2,799 sold in June last year to 3,368 sold in June 2015. Condo sales also increased significantly, rising 14% from 765 sold in June 2014 to 872 in June of this year. Another continuing trend: decreasing median sales prices.

The statewide median single-family home price fell 4% to $264,900 in June from $277,000 in Jun 2014. The year-to-date (YTD) prices fell 2% to $245,000 in June 2015 from $250,000 the same time last year. Of the five counties with decreases in single-family median sales price, Hartford County had the largest with an 8% decline from $239,900 in June 2014 to $220,000 in Jun 2015. Litchfield County had the largest increase with an 8% increase from $206,000 last year to $222,000 this year.

Of the five counties with decreases in YTD single-family median sales price, Middlesex County had the largest with a 4% decline from $260,000 last year to $250,000 the same time this year. Windham County saw the largest increase with a 3% change from $160,000 last year to $165,000 this year.

The statewide median condo sales price fell by 3% to $175,000 from $180,000 last year. YTD condo prices fell by 2% to $163,000 from $166,500 the same time last year. New Haven and Tolland County both experienced the most significant decreases in median condo sale price with declines in excess of 20%. New Haven County saw a 21% decrease from $154,000 in June 2014 to $121,000 in June 2015. Tolland County suffered a little more with a 23% decline from $149,900 last year to $115,000 this year. Middlesex County had reverse fortune with a 23% increase in condo median sales price from $120,750 in Jun 2014 to $148,000 in June 2015.

Half the counties had an increase in YTD median sales price and half saw decreases. In addition to the largest median sales price decrease for June, Tolland County also had the largest YTD condo median sales price decrease, dropping 18% from $140,300 last year to $114,900 the same time this year. Windham County had the largest YTD increase of 17% from $114,900 last year to $135,000 the same time this year.

Click here to read more at The Commercial Record.  

 

 
 

Filter News By