Home and condominium sales in Connecticut jumped significantly in July, while the sale prices of homes saw a modest gain, according to a report published this week. But the numbers weren't as positive in the state's southwestern corner.
Single-family home sales increased 12.7 percent in July compared to July 2016 in Connecticut, and the median sale price rose 2.7 percent, according to The Warren Group, publisher of The Commercial Record.
The median price of a single-family home climbed in July to $267,000, compared with $260,000 a year ago.
"Even a moderate increase in the median sale price is welcome news in Connecticut," said Timothy Warren, CEO of The Warren Group. "Although the year-over-year price increase has remained relatively flat, prices have been on the rise in recent months — a positive sign in a state that has seen the median price decline in two of the past three years."
A total of 3,641 single-family homes were sold in Connecticut in July, compared with 3,230 sold in July 2016.
Condominium sales in the state increased in July by 8 percent with 875 condos sold, up from 810 in July 2016. The median sale price for condos, however, dropped by 2.9 percent to $167,500, compared to $172,500 a year earlier.
It is the third month in a row in which year-over-year sales have increased for homes in Connecticut. Sales in June increased 8.7 percent compared to June 2016. Median sale prices also increased 1.5 percent in June.
Year to date, 19,287 single-family homes have been sold in the state, compared to 17,786 over the first seven months of 2016 — an 8.4 percent increase. The year-to-date median price was $249,000, compared to $245,728 over the same period of 2016.
Condominium sales have increased 11.8 percent, but sale prices have remained relatively flat, decreasing 0.3 percent over the first seven months of last year.
July was a rough month for many of the major markets in southwestern Connecticut, according to the William Pitt Sotheby's International Realty online market tracker. Norwalk and Greenwich each saw year-over-year dips in both number of single-family homes sold and median sales prices. Stamford saw a decrease in homes sold, but an increase in median price. Bridgeport was flat in both homes sold and median price.
Danbury was a bright spot, however, with year-over-year single-family home sales increasing by 9.8 percent and prices rising 14.5 percent.
