Connecticut Home, Condo Sales Skyrocket in March

The housing market in Connecticut seems to be on the road to recovery. According to a report released Tuesday[IMAGE]

by ""The Warren Group"":http://www.thewarrengroup.com/portal/Default.aspx, a Boston-based provider of real estate data in New England, sales of single-family homes and condos in Connecticut soared by double-digits in March.

Single-family home sales jumped 37 percent to 2,025 in March of this year, up from 1,478 during the same month last year. This, The Warren Group said, marked the sixth straight month that home sales in Connecticut have increased on a year-over-year basis. In addition, this year's first quarter home sales rose 27.7 percent from the first quarter of 2009.

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Statewide condo sales also surged in March. In total, 570 condos were sold during the month, a 34.4 percent increase from 424 in March 2009. And condo sales in Connecticut for the entire first quarter of this year were up 22.7 percent from the first three months of last year.

Data regarding prices for single-family homes and condos was mixed.

According to the report, the median price for single-family homes in Connecticut rose to $240,000 in March, nudging up 8 percent from $222,000 one year ago. This was the fourth consecutive month that the median price has increased from one year to the next. The median price for condos, though, slipped 1 percent to $178,450 from $180,250 last March.

""Connecticut's housing market has gained momentum over the last few months. The tax credits offered to first-time homebuyers and existing homeowners looking to move have aided the market tremendously,"" said Timothy M. Warren Jr, CEO of The Warren Group. ""While there's growing confidence in the housing market, we are concerned about how unemployment and the tax credit expiration will affect home sales activity throughout the rest of the year.""