Conn. single-family home sales, price hit record low

Connecticut’s
single-family housing market in 2008 saw the sharpest decline in at least 20 years, according
to real estate data firm the Warren Group. Sales of single-family homes last year fell 23.7 percent
compared to 2007, and the median price fell 9.2 percent. The declines are the
steepest yearly drops ever recorded by the Warren Group, which started tracking
Connecticut
residential real estate in 1988. A total of 24,721 single-family homes were
sold in 2008, down from 32,384 in 2007. The median price reached $268,000 last
year, down from $295,000 in 2007. TRD