Home / Daily Dose / Single-Family Sales Increase in Connecticut
Print This Post Print This Post

Single-Family Sales Increase in Connecticut

Despite a low inventory, single-family home sales are up 2.6 percent overall this year in Connecticut, with a 2.8 percent increase in February of this year from last year. According to a new report from the Warren Group, the publisher of the Commercial Record, this is the tenth month of increases in a row, which eases a lot of fears.

"We see many signs of a healthy real estate market in Connecticut," said Timothy M. Warren Jr., CEO of the Warren Group.  "We are in the third year of recovery from the crash in real estate and financial markets. People are interested in real estate once again."

The median price of a single family home is higher in Connecticut than the national average, coming in at $235,000, yet 2,613 homes have been sold in the first two months of the year alone. Overall, the median is up by 4.4 percent as compared to last year.

The most impressive news comes from condominium sales, which showed a 17.2 percent increase from the same month last year, equaling 354 sales. This also means that the median price for a condo has risen 10.8 percent—roughly $155,000.

This news comes off of the heels from a recent CoreLogic report showing that Hartford, Connecticut, is number five on the list top ten hottest housing markets in the country.

About Author: Paul Salfen

Paul Salfen is the editor at large for DS News. He holds a Bachelor of Arts from Penn State. He co-hosts two television shows and a radio show and is a frequent contributor to several notable publications.
x

Check Also

Preparing for the End of Forbearance

Editor's note: This piece originally appeared in the August 2020 edition of DS News, now ...

GET YOUR DAILY DOSE OF DS NEWS

Featuring daily updates on foreclosure, REO, and the secondary market, DS News has the timely and relevant content you need to stay at the top of your game. Get each day’s most important default servicing news and market information delivered directly to your inbox, complimentary, when you subscribe.