Real estate sales rise again in New London County, but prices still falling

Sales of single-family homes edged up 2.2 percent in September, but the median price was off $22,000 compared to a year ago, according to real estate statistics released today.

The Warren Group, which tracks sales in New England, said overall single-family sales numbers in Connecticut were flat last month compared to last year, while the median price statewide was off 8.4 percent. Local prices took a 9.3 percent dive.

But local condo sales were up more than 23 percent, and prices rose 9.4 percent. The median condo price in September was $175,000 in New London County, compared with $215,500 for a single-family home.

"September didn’t deliver the gains in sales volume that the previous months did," said Timothy M. Warren Jr., chief executive of The Warren Group, in a statement. "Still, single-family home sales in the third quarter managed to creep up a bit from last year, and the first-time homebuyer tax credit and lower home prices statewide helped to drive that increase."

For the year to date, sales are still off 5.7 percent in New London County, and the median price is down 11.5 percent. Only Windham County, at $170,000, has a lower median price for single-family homes than New London County so far this year.

Despite the flat single-family sales statewide in September, five out of Connecticut’s eight counties showed growth, the largest coming from Tolland County with sales advancing more than 13 percent. Numbers were dragged down by Middlesex County, whose sales tumbled 17.5 percent, and Fairfield County, with 5.1 percent lower sales.

"Home prices are still sliding," Warren, who publishes The Commercial Record, said. "But September’s 8 percent year-over-year drop was more moderate than the previous eight months when there were double-digit percentage declines in prices."