Report: Encouraging Quarterly Home Sale Growth In Connecticut

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Home sales in Connecticut posted healthy gains in the three months ended June 30 with all eight counties sharing in the increase, a new report today shows.

And the activity is expected to stretch through the summer: single-family houses under deposit rose nearly 12 percent statewide, while condominiums increased 22 percent, according to the report from Prudential Connecticut Realty.

In Hartford County, deposits on single-family houses jumped 18 percent and condominiums, 24 percent.

Not all properties under deposit will close, with as much as 30 percent running into trouble with financing or appraisals, experts estimate.

See Prudential’s full report here.

The median sale price of a single-family house statewide rose 2.7 percent to $249,000 at June 30 from $242,500 in the second quarter a year ago.

“Nationally, home prices are rising at a faster pace than in Connecticut,” the report said. “One leading reason for slow price growth may be state’s overall economy.”

But the report adds: “Connecticut is showing consistent improvement in prices, which should help overall consumer confidence grow throughout the state.”

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One thought on “Report: Encouraging Quarterly Home Sale Growth In Connecticut

  1. DR

    Home prices will go up once the economy improves. The economy will improve when CT wakes up and votes Malloy out of office.

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