Affordable Housing, Community Development, Reports and Publications

Single Family and Condo Sales Show Slight Increases in November

The Warren Group

Although single family home sales saw only marginal growth in November with a 0.4% increase from 2,027 homes sold in November 2013 to 2,036 homes sold in November 2014, it was enough to make it the third consecutive month of sales increases. The median price of a single-family home dropped 1.6% to $238,100 in November from $253,000 in November 2013.

Single family median home sales price decreased in five of the eight counties with Litchfield County experiencing the largest decline, a 17% drop from $225,500 to $187,500. The increase in the other three counties did not exceed 3%. Year-to-date (YTD) medians sales price fell in all counties except Tolland County which experienced 0% change.

Condos had stronger sales than single family homes. In November, statewide condo sales increased 6.3% from 525 last year to 558 this year. The statewide November median sales price for condos decreased 2.1% from $169,000 last year to $165,500 this year.

Half of the counties experienced increases in median condo sales price from last year. Tolland County experienced the largest increase from $133,000 in November 2013 to $188,000 this year for a total increase of 41%, although there were just seven sales. Conversely, Litchfield County experienced the largest decrease - a 17% drop from $110,500 in November 2013 to $91,500 in November 2014. The YTD median sales price also increased for half the counties. Litchfield County had the largest increase from $113,000 last year to $125,500 this year, an 11% increase. New Haven County had the largest YTD median sales price decrease, from $148,000 to $132,000 for an 11% difference.

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