Connecticut Home Sales Off To Promising Start In January

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A new housing report today showed combined sales of single-family houses and condominiums in Connecticut got off to a healthy start in January, as sales jumped 14 percent compared with a year earlier.

The median sale price rose a modest one percent, to $235,000, from $232,500, according to the report from RE/MAX of New England.

Pending sales of houses and condos rose by 55 percent in January, to 3,229, from 2,081 for the same month a year ago. The increase suggests sales will remain on an upward track heading into the spring buying season, traditionally the busiest for home purchasing.

The report found that the inventory of properties for sale fell by 34 percent. But, based on sales in January, the state still has roughly a 10-month supply of properties for sale, firmly in a buyer’s market.

A six month supply is considered to favor neither buyer nor seller.

RE/MAX combines single-family houses and condominiums in its reports. Reports from the Warren Group and the Greater Hartford Association of Realtors separate the categories.

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