July Shows Rise in Home Sales for Connecticut and eastern Connecticut

Connecticut REALTORS® reports that single-family residential home sales in Connecticut increased 14.6 percent comparing July 2015 to July 2014. The median sales price of $275,000 represents a 0.5 percent decrease from $276,400 in that same time period. Median indicates that half the homes sold for more and half for less. Total units of homes sold were 3,860 in July 2015 and 3,369 in July 2014.

StatsInfographicJuly2015-sm

Townhouses and condominium sales in Connecticut increased 21.2 percent comparing July 2015 to July 2014; with a median sales price of $165,000 representing a 5.7 percent decrease from $175,000 in that same time period in 2014. Total units sold were 959 in July 2015 and 791 in July 2014.

Statistics released from the National Association of REALTORS® on August 20 indicate total home sales nationwide (includes single-family homes, single-family homes, townhomes, condominiums and co-ops) increased 10.3 percent comparing July 2015 to July 2014; and the median national home sales price is $234,000. Regionally, Northeast home sales increased 9.4 percent in that same time period; with a median sales price of $277,200.

“July is a traditionally strong month for home sales and it is a great sign that this is continuing in 2015. Yes, every local market is different and that is critical to remember, but the overall momentum is positive,” said Sandy Maier Schede, President of Connecticut REALTORS®, Broker/Owner and REALTOR® with Maier Real Estate in Meriden. 
 
Eastern Connecticut did well with an increase in the number of July single family sales from 343 to 434, a 27% increase. The average July single family sale price rose 7.5% to $240,087 and the July median sale price rose 8.9% to $213,500.