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August 23, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

Connecticut single-family home sales up in April

Single-family home sales in Connecticut continued to rise in April, along with the median sale price, according to new data from The Warren Group.

Last month saw 2,584 single-family homes sold in Connecticut, a 7.6 percent increase from the 2,402 homes sold in April 2017. The median single-family home price in April was $250,000, a 6.4 percent increase from the $235,000 median sale price recorded one year earlier. April was the seventh consecutive month of annualized median price gains, and it saw the greatest level of sales volume during any April since 2007. Year-to-date, single-family home sales in Connecticut totaled 8,478 transactions, with a median sale price of $243,000.

“Single-family home prices across Connecticut have now increased for seven consecutive months on a year-over-year basis,” said Timothy Warren, CEO of The Warren Group. “Inventory is low, and prices are rising as buyers face stiff competition for attractive homes.”

Sales activity was also upward in the condo market, with 667 sales in April, up 1.2 percent from the 659 transactions recorded in April 2017. However, the median sale price for condos dipped by 0.6 percent to $164,000, down from $164,900 a year earlier. Year-to-date, condo sales totaled 2,431 transactions, with a median sale price of $156,500.