Connecticut Housing Market In January Shows Little Momentum

A new report out today shows the state’s housing market entered the year without much momentum.

According to the report from Re/Max New England, combined sales of single-family houses, condos and one-to-four family units statewide were essentially flat in January, compared with the same month a year ago.

The median sale price fell 12.2 percent, to $232,500 from $264,875 a year ago. The price declines do not necessarily mean that the value of all homes are falling in the state.

Just one other New England state, Vermont, had weaker sales than Connecticut. Only one other state, Rhode Island, had deeper median sale price declines.

See the full report here.

The Re/Max report differs from those issued by The Warren Group in a couple of critical ways. Re/Max combines all residential housing categories, while Warren separates them. In addition, Re/Max draws its data from the Multiple Listing Service (MLS), and Warren uses records filed with towns and cities.