Connecticut home sales rebound

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