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

February Single-Family Home Sales and Prices Down

4 April 2017
CT Realtors and The Warren Group

Two recent reports analyzing home sales in February show decreases in the number of sales being made. Comparing February 2016 with February 2017, Connecticut REALTORS reports that the median sales prices of single-family homes decreased, and the median sales price of townhouses and condominiums remained the same. The median sales price of single-family homes decreased by 2.2% from $230,000 to $225,000. The median sales price of condominiums and townhouses reflects a 0% change from the same time period last year, at $145,000.

The Warren Group’s data indicates the median sales price of single-family homes fell to $220,000, down 2.2% from the same time last year, at $225,000. The median sales price for condominiums also decreased by 3.7% from $150,000 in February 2016, to $144,500.

Connecticut REALTORS reports single-family home and condominium sales have also decreased. Connecticut home sales decreased by 4.2%, from 1,902 to 1,823, while condominium and townhome sales decreased by double digits, 11.3% from 520 to 461.

The Warren Group also reports a decrease in single-family home and condominium sales. The Warren Group’s data indicates a 4.1% decrease in the sale of single-family homes, from 1,800 in February 2016 to 1,727 in February 2017. Similarly, condominium sales decreased by 8.1% from 494 condos sold to 454.

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.