Report: CT House Sales, Prices Jump in August

by Categorized: Residential Real Estate Reports, Uncategorized Date:

House sales in Connecticut jumped nearly 10 percent in August compared with a year earlier, the volume being the strongest for the month since 2007, a new report today shows.

The median sale price — where half the sales are above, half below — rose for the eleventh consecutive month, surging nearly 12 percent, to $285,000, from $255,000 for the same month a year ago, according to the monthly report from The Warren Group, which tracks real estate trends in New England.

In 2013, Sales volume in August was second only to July. Both months helped lift sales for the first eight months of the year by 4 percent, compared with 2012. The median sale price climbed 9.5 percent for the same period.

In Hartford County, sales in August surged nearly 10 percent compared with 2012. The median sale price rose 2.2 percent to $232,750, from $227,724 for the same month a year ago.

Timothy M. Warren Jr., chief executive of The Warren Group, said he doesn’t expect the pace of sales to continue into the fall, given that is a traditionally slower time for home buying.

“While the market has proved to be strong so far this year, there is much concern over how the government shutdown will impact the overall economy,” Warren said.

All counties except Windham and Middlesex saw a gain in sales compared with a year ago, with Fairfield County up the most, at nearly 24 percent. Median prices rose in all counties, except Fairfield where the median was essentially flat.



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