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Affordable Housing , Announcements , Housing Policy Briefs , State News

March Home Sales and Sales Prices Up

3 May 2017
CT Realtors and The Warren Group

Two recent reports analyzing home sales in March show increases in the number of sales being made and the median sale prices of home sales. Comparing March 2016 with March 2017, Connecticut REALTORS reports that the median sales price of single-family homes increased by 3.1% from $229,000 to $237,000. The median sales price of condominiums and townhouses increased by 7.1%, from $141,000 to $151,000.

The Warren Group’s data indicates the median sales price of single-family homes increased to $230,000, up 2.2% from the same time last year, at $225,000. The median sales price for condominiums also increased by 3.8% from $145,000 in March 2016, to $150,500.

Connecticut REALTORS reports single-family home and condominium sales have also increased in a year over year comparison. Connecticut home sales increased by 5.1%, from 2,404 to 2,527, while condominium and townhome sales increased by double digits, 17.3% from 594 to 697.

The Warren Group also reports an increase in single-family home and condominium sales. The Warren Group’s data indicates a 1.9% increase in the sales of single-family homes, from 2,165 in March 2016 to 2,207 in March 2017. Similarly, condominium sales increased by 17.75% from 569 condos sold to 670.

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.