August Conn. home sales highest in six years

 

BOSTON — Sales of single-family homes in Connecticut rose almost ten percent in August, marking the highest sales volume for the month since 2007, according to the latest report by the Warren Group.

A total of 2,893 single-family homes sold in August, up from 2,639 in August 2012. This represented the best August since 2007, when 3,726 deals were closed. It is also the second-highest number of sales for a month in 2o13 to date, bettered only by July, when there were 3,126 sales. Year-to-date sales have increased 4 percent to 17,110, compared to 16,458 during the same period of 2012.

"We're already seeing how the seasonality affects the market, with sales dropping in August compared to July, and this will probably continue in the fall and winter months," said Warren Group CEO Timothy M. Warren Jr. "While the market has proved to be strong so far this year, there is much concern over how the government shutdown will impact the overall economy."

The median price of single-family homes statewide rose for the 11th consecutive month. The median price climbed to $285,000 in August, up almost 12 percent from $255,000 during the same month of 2012. The median sale price for homes sold January through August also increased 9.5 percent to $265,000, up from $242,000 during the first eight months of 2012.

Also in August, Connecticut condominium sales rose almost three percent. Sales statewide increased to 683 in August, up from 664 in August 2012. This is the highest number of condo sales recorded for the month since 2009. Year-to-date condo sales are also up about seven percent, increasing to 4,438 from 4,141 during the previous year.

The median sale price of Connecticut condos increased almost 16 percent in August to $190,000, up from last year's $164,250. The year-to-date median price of condos in Connecticut rose more than seven percent to $172,500, up from $161,000 a year ago.