CT Home Sales Edge Up Slightly In June

by Categorized: Residential Real Estate Reports Date:

House sales in Connecticut edged up only slightly in June, but sales prices showed overall healthy gains, a new report today shows.

Sales of single-family houses in June rose less than one percent, to 2,602, from 2,591, the Warren Group reported today. The median sales price — where half the sales are above, half below — jumped 5.6 percent, to $283,000 in June, from $268,000 in the same month a year ago.

“The housing market in Connecticut continues to show slow growth,” said Timothy M. Warren, Jr., chief executive of The Warren Group. “As long as mortgage rates and home prices don’t spike too high, we will see a very steady recovery for the market in 2013.”

Fixed mortgage rates held steady this week, according to mortgage giant Freddied Mac, with lenders offering 30-year home loans at an average of 4.4 percent, unchanged from last week. Even so, that average is well above the 3.6 percent in early June, pushing borrowing costs up.

Hartford County turned in the weakest sales increase in June, rising less than one percent. In contrast, the median sale price in the county moved up 5.2 percent, to $240,000, from $228,000 a year ago.

New London County registered the biggest increase in sales, up nearly 14 percent. New Haven County lost the most ground in sales, down more than 10 percent.

The median sale price fell in just one county, Tolland, down 6.2 percent, to $219,900.

Through the first six months of 2013, single-family house sales remain behind last year, down a little over one percent. The median price is 8.5 percent higher through June, compared with the same period last year, Warren reported.




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