Affordable Housing, Announcements, Reports and Publications

October CT Home Sales Continue to Increase While Prices Drop

The Warren Group
 

October home sales increased while, as has been the pattern of recent months, home prices have decreased according to new numbers from The Warren Group. The single-family median home sale price in October - $235,000 - is the lowest in the past ten years, a 16.8% drop from $274,586 October 2006 and a 2.1% decline from  $241,600 last year.

Single-family home sales on the other hand increased by 9.2% to 2,610 from 2,379 in October 2014. The year to date (YTD) median sales price has also dropped from October last year. It was $249,000 statewide in October 2015, a 1.9% dip from last year’s $251,000 at the same time.

Only two counties, Fairfield and Windham, had increases in single-family home sales prices. Windham County had a dramatic 30.4% increase from $140,000 in October 2014 to $182,500 this year. Fairfield experienced a more modest 1.3% increase. Of the remaining counties, most had modest declines with only New London County and Litchfield County seeing double digit declines, 17% and 10.5% declines respectively. New London County dropped from $222,750 in October 2014 to $185,000 this year.

Windham County was the only county to see an increase in median YTD single-family home sales. Prices last year at this time were $160,000 and increased to $167,000 in October of this year. New London County had the largest decline in YTD median single-family home sales price, dropping by 4.3% from $219,400 last October to $209,900 the same time this year.

Condo sales in Connecticut have seen similar increases in sales but decreases in prices and October is no exception. October 2015 saw a 6.4% increase in sales from October 2014 from 667 sales to 712 sales. YTD sales increase by 13% from 5,824 last year to 6,587 this year. The median condo sales price however experienced a 7.7% decrease from $168,000 last year to $155,000 in October 2015. The YTD sales price also dropped, declining by 2.9% from $170,000 last year to $165,000 this year.

Only New London and Fairfield Counties had increases in median condo sales price. New London County increased by 4.1% from $121,000 last year to $126,000 in October 2015. Windham County had the largest decline with median sales price dropping 13.9% from $176,450 last year to $152,000 this year. However, Windham County saw no change in YTD median sales price. New London County also had the largest increase in YTD median condo sales price. It increased by 13.6% from $126,750 in October 2014 to $144,000 this year. Litchfield County had the largest decline, with a 16,5% drop from $127,000 in October 2014 to $106,000 this year.

Click here to read more from The Warren Group. 

 

 
 

Filter News By