State News

Feb Home Sales Rise But Prices Do Not

CT Realtors
 

February home sales data released by Connecticut Realtors shows that even though sales rose, the price of homes did not. While single-family homes sales increased by 9.1% from February 2014 to February 2015, the median single-family home sales price dropped by 0.9%. The same goes for condo sales: while condo sales rose by 6.4%, median condo sales price decreased by 0.6%.

This is indicative of the trends reported by other sources and indicates that more expensive homes, perhaps larger in size, are not selling as well those priced at lower levels. This may indicate that demand for smaller, denser, and/or more affordable homes continues to outpace the demand for upper-end homes.

Click here to read the full press release. 

 
 

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