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

House Sales Show a Strong Start to 2017

8 March 2017
CT REALTORS and The Warren Group

Two recent reports analyzing home sales in January show increases in the number of sales being made. Comparing January of 2016 with January of 2017, Connecticut REALTORS reports that the single-family home and condominium sales prices have increased. The median sales price of single-family homes has increased by 2.2% from $230,000 to $235,000. The median sales price of condominiums and townhouses has increased by 4.4% from $148,500 to $155,000.

The Warren Group’s data indicates the median sales price of single-family homes fell to $225,000, down 1.9% from the same time last year, at $230,000. The median sales price for condominiums also decreased slightly by 0.7% from $150,000 in January 2016, to $149,000.

Connecticut REALTORS reports single-family home and condominium sales have also increased. Connecticut home sales increased by 14.2% from 2,020 to 2,307, while condominium and townhomes sales increased by 23.7% from 468 to 579.

The Warren Group’s report shows a larger single-family home sales increase, jumping up 23%, from 1,731 in January 2016 to 2,130 in January 2017. Similarly, condominium sales saw a spike from January 2016, increasing 32.3% from 437 condos sold to 578.

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.