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CT April Home Sales Show Increased Volume, Decreased Prices

4 June 2012
The Warren Group

The Warren Group released Connecticut’s single family home sales real estate data for April 2012, allowing for a comparison to April 2011. While the volume of April sales in CT increased 25.6%, rising from 1,550 sales in 2011to 1,946 sales in 2012, the median sale price dropped 5.5% from $240,000 to $226,700. The year to data sales (YTD) also reflect the same trend. The volume of the YTD sales has increased 11% from 5,500 sales in 2011 to 6,104 sales in 2012 while the median sale price has decreased from $233,000 in 2011 to $220,000 in 2012, a 5.6 point drop.

Tolland County had the highest percentage increase in sales with a 133.3% increase in sales from April 2011 to April 2012, but Hartford County had the largest increase in number of homes sold with an increase from 367 homes sold in 2011 to 520 homes sold in April 2012. After Hartford County, Fairfield County sold the most homes with 482 sales in April 2012.

The only counties that saw an increase in median price between April 2011 and April 2012 were Middlesex County with a 2.0% increase from $234,000 to $238,750 and New London County with a 15.4% increase from $203,500 to $234,750. Litchfield County experienced the largest drop in median sale price with prices dropping 17.8% from $219,000 in April 2011 to $180,000 in April 2012.

Hartford County also had the largest YTD volume increase in sales with an increase from 1,310 in 2011 to 1,568 in 2012 while Tolland also had the largest YTD percentage increase in sales from 2011 to 2012 with a 43.2% increase. Windham County experienced the only YTD decrease in sales volume with a 6.5 point drop.

New London County is the only county that showed an YTD increase in median sale price with a 4.5% increase from $201,000 in 2011 to $210,000 in 2012. Litchfield County experienced a 19.7% drop from $213,500 in 2011 to $241,500 in 2012, the largest YTD median sale price drop of all the Counties.

Read the more at The Commercial Record