BOSTON, Mass. — Single-family home sales in Connecticut rose 3.2 percent in March compared with March 2013, according to a new report from the Warren Group. This is the 11th consecutive month of home sale increases in Connecticut.
There were 1,583 single-family homes sold this March, a slight gain from the 1,534 homes sold in March 2013. Sales of single-family homes were up by 2.9 percent to date for 2014. Statewide, a total of 4,198 transactions were completed in the first quarter of the year compared with 4,081 in the first quarter of 2013.
The median price of single-family homes fell by 8.2 percent in March, selling at $225,000 compared with $245,000 in the same month last year. Prices of single-family homes also declined by 2.1 percent in the first quarter, with a median selling price of $230,000 compared with $234,900 last year.
"The continued increase in the number of single-family homes is evidence that the market continues to recover," said Timothy M. Warren Jr., CEO of the Warren Group. "The modest decline in median prices in March is the first decline the state has seen since June 2012. That's makes it an aberration of the data and not the start of new trend."
Condominium sales remained robust in March, with an 8.1 percent increase over the same month of 2013. There were 442 recorded sales, up from 409 in March 2013. Condo sales were up by 4.9 percent in the first quarter of the year compared with the first quarter last year.
The median price for a condo fell in March by 3.5 percent to $154,500 compared with $160,000 in March 2013. Overall, the median price of a condo was down slightly by 0.9 percent in the first three months of the year compared with the first quarter of last year.