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Connecticut saw its lowest level of monthly single-family home sales in two decades in August, according to a report released today by real estate tracking firm the Warren Group. Just 2,218 single-family homes sold that month, down 14.9 percent from the same month a year earlier. Paradoxically, 2010 on the whole is showing more activity than 2009 — 17,133 single-family homes have sold in Connecticut so far this year, compared to 15,078 during the same time period in 2009. Timothy Warren, CEO of the Warren Group, said that this drop-off is due to the expiration of the first-time homebuyer tax credit. “Home sales have dropped all over the country in the aftermath of the homebuye [more]

Source: The Warren Group

Connecticut saw sales of single-family homes soar by 27 percent and condos by nearly 20 percent in February, marking the fifth straight month of year-over-year increases in sales volume, according to a new report by the Warren Group. The month brought sales of 1,291 single-family homes at a median price of $227,000, a 3.6 percent uptick over last year’s median price of $219,104. February was the third month in a row during which home prices rose on a year-over-year basis, the report says. Condo prices also increased to a median of $178,250 for the 378 units sold during the month, up 4.1 percent from $171,250 during the same period one year ago. “The gains in sales volume have helped bump up median prices,” explained Timothy Warren, CEO of the Warren Group. “But it’s important to remember that January and February sales activity is in comparison to last winter when the housing market was sputtering and sales were down by 25 percent to 30 percent.” TRD [more]

The residential market may be looking up in Connecticut, where median prices on single-family homes jumped 6 percent in January, compared to the same month a year earlier, up to $238,900 from $225,000 in January 2009, according to the latest report from the Warren Group, a New England-based real estate data provider. Just one county, Hartford, saw prices decline year-over-year, down 4.7 percent. Sales transaction volume statewide, meanwhile, was up nearly 20 percent year-over-year, hitting 1,277 home sales in January this year. TRD

New York City-based construction company owner Michael Lynch pleaded guilty today to tax evasion, according to the U.S. Attorney for the Southern District of New York’s office. Meanwhile, a report released this week from the Warren Group showed that September single-family homes and condo sales figures in Connecticut were similar to numbers from the same time period a year ago and construction began on Columbia’s newly-leased second floor space at 880 Third Avenue on the corner of 53rd Street. Also, Clipper Equity, the developer of BellTel Lofts in Downtown Brooklyn, announced today that it will cover closing costs for purchases who sign contracts in the building between Nov. 1 and Nov. 25. TRD Click here for more. [more]

Single-family home sales in Connecticut rose 4 percent in July, marking the first time monthly sales year-over-year have increased since 2007, according to a report the Warren Group released yesterday. Also, the New York City Department of Buildings will begin tracking its inspectors using global-positioning system software. And residential real estate agency the Franzese Group, a branch of Weichert Realtors, is relocating its Brooklyn office as its agents quadruple in number. Click here for more.
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