Connecticut home prices plummeted in January reaching lows not seen for eight years, according to a state-wide report released today by the Warren Group, a publishing and information services company.
The median price of single-family homes sold in January fell 12.5 percent from the prior-year month to $210,000. It’s the lowest state-wide median price since March 2003. [more]
Connecticut single-family home sales fell for the sixth straight year in 2010, reaching their lowest annual level in nearly two decades, according to a new report by the Warren Group, released today. A mostly-mediocre sales year in the state was dragged down by a dismal fourth quarter — the slowest fourth quarter for single-family home sales there since the 1990s — and the sluggish sales numbers came even as median home prices ticked up to $250,000, an increase of 4 percent over the median home price in 2009. It was a similar story for condominium sales. TRD [more]
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]
October single-family home and condo sales in Connecticut saw double-digit percent increases from the same month a year ago while median prices dropped, according to a report released today by real estate data provider the Warren Group (see all the data here). Single-family home sales rose 11.5 percent year-over-year to 2,371 in October 2009, marking the third month that year-over-year sales increased. Meanwhile, the median price for single-family homes dropped 4.4 percent to $239,000 from October 2008, the data shows. He was cautiously optimistic in his interpretation of the data.Timothy Warren, CEO of the Warren Group, attributed the jump in sales to the first-time homebuyer tax credit. “While gains in sales volume are pointing to a housing recovery, we have to keep in mind that home prices are still declining year-over-year, so the housing market hasn’t completely turned a corner,” Warren said. TRD [more]
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 climbed for the second consecutive month in August, according to a report released today from the Warren Group, a real estate data tracking group. There were 2,644 Connecticut home sales in August, marking a 7 percent climb from the same time period in the previous year, the data shows. Timothy Warren, CEO of the Warren Group, said that while the data is a good indicator of market recovery, other economic concerns linger. “The gains in home sales for two consecutive months is a good boost for Connecticut’s housing market, especially since sales have been slumping since 2005,” Warren said. “However, unemployment and mortgage delinquencies remain a concern, and prices continue to erode from last year’s levels, evidence that the housing recovery will be slow.”
TRD
