Connecticut REALTORS® reports that single-family residential home sales in Connecticut increased 2.6 percent comparing September 2016 to September 2015. The median sales price of $255,000 reflects a 2 percent increase from this period last year. Median indicates that half the homes sold for more and half for less. Total units of homes sold were 3,274 in September 2016 and 3,191 in September 2015.
Townhouses and condominium sales in Connecticut decreased 1.4 percent comparing September 2016 to September 2015; with a median sales price of $165,000 representing a 1.8% percent decrease from $168,000 in that same time period in 2015. Total units sold were 768 in September 2016 and 779 in September 2015.
Statistics released by the National Association of REALTORS® indicate total home sales nationwide (includes single-family homes, townhomes, condominiums and co-ops) increased 0.6 percent comparing September 2016 to September 2015; and the median national home sales price is $234,200. Regionally, Northeast home sales increased 2.1 percent in that same time period; with a median sales price of $261,600.
“We are seeing an increase in single-family unit sales along with a positive value increase in median prices,” says Michael Feldman, 2016 President of Connecticut REALTORS® and a REALTOR® with William Raveis in Stamford. “Condos experienced a slight drop in unit sales and median price. We’ve seen slight fluctuations in the condo and townhouse market throughout the year. Mortgage rates are still fabulously low offering buyers the ability to lock in long term savings with low interest rates.”
Connecticut REALTORS® is a statewide trade association representing over 16,000 real estate professionals engaged in all aspects of real estate in Connecticut. The term REALTOR® is trademarked and denotes membership in the National Association of REALTORS®. Statistics are from multiple listing services throughout Connecticut and reflect properties that are openly marketed for sale. These will vary from statistics that represent all sales including family transfers, private sales, etc. that are inclusive of property prices not driven by market demands.