Affordable Housing, Community Development, Housing Policy Briefs, State News

Single-Family Home and Condominium Sales on the Rise in May

The Warren Group
 

Comparing May 2017 to the same month last year, new data from the Warren Group shows that both home and condominium sales jumped by double digits in the Nutmeg State. Single-family home sales increased 10.6%, to 3,260 from last year’s May total of 2,947. The median sales price for single-family homes increased to $251,450, up 1.8% from $247,000 in May 2016.

Year-to-date (YTD) single-family home sales increased 6.4% to 11,695, compared to last year’s total of 10,995.

Comparing May 2017 with 2016, condominiums sales increased 20.3% to 867 sales, up from last year’s total of 721. However, the median sales price for condos experienced a small decrease of 4.1% to $165,000 from $172,000.

The Warren Group CEO, Timothy Warren Jr., commented on these figures, calling it “the best May since 2006.”

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