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Community Development , Housing Policy Briefs , Reports and Publications

Home Sales Prices Up in July

13 September 2017
The Warren Group and CT Realtors

Two recent reports analyzing Connecticut home sales in July show increases in median sales prices of single-family homes. In a year-over-year comparison between July 2016 and July 2017, Connecticut REALTORS reports that the median sales price of single-family homes increased by 3% from $265,000 to $273,000. The median sales price of condominiums and townhouses increased by 1.2%, from $167,000 to $169,000.

The Warren Group’s data indicates the median sales price of single-family homes in the state increased by 2.7% to $267,000 from $260,000, in a year-over-year comparison from the same time last year. During that time, the median sales price for condominiums decreased by 2.9% from $172,500 in July 2016, to $167,500 in July 2017.

Connecticut REALTORS reports sales of single-family homes and condominiums decreased slightly in a year-over-year comparison of July 2016 and July 2017. Connecticut home sales made a very slight dip, from 3,698 to 3,694, representing a decrease of less than 1%. Condominium and townhome sales also decreased by less than 1%, from 807 to 803.

The Warren Group reports an increase in both single-family home and condominium sales. The Warren Group’s data indicates an 12.7% increase in the sales of single-family homes, from 3,230 in July 2016 to 3,641 in July 2017. Similarly, condominium sales increased by 8% from 810 to 875 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.