Affordable Housing, Announcements, State News

August Home Sales, Prices Drop in Connecticut

The Warren Group
 

Connecticut home sales volume, median home sales price and median condo sales price all fell in August. The median home sales price dropped 5.3% from $285,000 in August 2013 to $269,900 in August 2014. Additionally, the year-to-date (YTD) median home sales price dropped 3% from $265,000 last year to $258,000 this year.

With the exception of Tolland County which saw a 3.2% increase, every county experienced a decrease in 2014 YTD median home sales price. There were no increases in the August year-over-year median home sales price across the state. New London and Tolland County fared the best with no change in median sales price from August 2013 to August 2014 while all other counties experienced decreases.

The median sales price of condos dropped almost 7% to $176,500 in August 2014 from $188,875 in August 2013. The YTD median sales price dropped 1.5% to $170,000 from $172,500 the same time last year. New London County saw it’s median condo sales price cut almost in half with a 47.86% drop to $114,700 in August 2014 from $220,000 in August last year. Tolland County had a 31% drop in median sales price from $158,000 in August 2013 to $108,000 in August 2014. While New London and Tolland County had drastic drops in median sales price, Litchfield County had a 27.07% bump in price from $102,500 in August 2013 to $130,250 in August 2014. With regards to YTD median sales price, half of the County’s experienced decreases and the other half had either no change or increases from the same time last year.

Click here to read the article on The Commercial Record. 

 
 

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