What happened to real estate values in Connecticut during the past 12 months? The news is somewhat encouraging. At least they aren’t going down!
The Connecticut Association of REALTORS® reported today that the median price of a single-family home in Connecticut is $250,000 which reflects a 2 percent increase from $245,000 for the same time period last year. Median indicates that half the homes sold for more and half for less.
The number of single-family residential home sales in Connecticut decreased 0.6 percent when comparing October 2017 to October 2016. The total number of homes sold was 2,919 in October 2017 compared to 2,936 in October 2016.
The townhouse and condominium median sales price is $163,000 representing a 2.5 percent increase from $159,000 for the same time period in 2016.
The number of sales in Connecticut decreased 1.3 percent when comparing October 2017 to October 2016. Total units sold were 731 in October 2017 and 741 in October 2016.