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Affordable Housing , Community Development , Housing Policy Briefs , Reports and Publications

December Home Sales Reports Show Falling Sales

6 February 2018
CT Realtors and The Warren Group

Two recent reports analyzing Connecticut home sales show decreases in single-family home sales in December 2017, with modest increases in median sales prices. In a year-over-year comparison between December 2016 and December 2017, Connecticut REALTORS reports that the median sales price of single-family homes increased slightly, by 1% from $245,000 to $247,500. The median sales price of condominiums and townhouses increased by less than 1%, from $162,500 to $164,000.

The Warren Group’s data indicates the median sales price of single-family homes in the state increased by 2.2% from $240,000 to $245,000, in a year-over-year comparison from the same time last year. During that time, the median sales price for condominiums increased by less than 1% from $165,000 in December 2016, to $166,500 in December 2017.

Connecticut REALTORS reports sales of single-family homes and condominiums decreased in a year-over-year comparison of December 2016 and December 2017. Connecticut home sales decreased from 2,987 to 2,646, representing a drop of 11.4%. Condominium and townhome sales also decreased, by 2.7%, from 698 to 679.

The Warren Group reports a decrease in both single-family home and condominium sales. The Warren Group’s data indicates a 9.4% decrease in the sales of single-family homes, from 2,705 in December 2016 to 2,472 in December 2017. Similarly, condominium sales decreased by 5.9% from 722 to 682 condos sold.

Discrepancies in these reports are attributed to the point in the sale at which data is collected. The Warren Group bases its reports on sale documents filed with the towns and cities, while Connecticut REALTORS reports on statistics from the Multiple Listing Service.

Click here to read the CT REALTORS report and here to read The Warren Group report.