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    Thursday, April 25, 2024

    Region's home sales and prices rise in April; more favorable than most other areas of state

    Sales of single-family homes in New London County got off to a strong start in April, beating most other area of the state. Prices saw a boost, too.

    The Warren Group, publisher of The Commercial Record, released statistics Wednesday showing single-family sales in the region rose 17 percent during the first month of the key spring home-buying season compared with the same period last year. The state as a whole saw a 10.5 percent rise in home buying, but only Litchfield, Windham and Tolland counties saw higher percentage increases in home sales than the region.

    And while statewide home prices fell 3 percent, New London County recorded median sales that rose nearly 3 percent.

    "The market is off to a strong start in the spring season," said Timothy M. Warren Jr., chief executive of The Warren Group, in a statement. "With sales on the rise for the third month this year, prices will eventually start to rise as demand builds."

    April's median sales price for single-family homes in New London County stood at $193,450 compared with $188,500 in the same month last year. Year to date, the region's median sales price of $203,289 compares with the $198,000 median recorded over the same period in 2014.

    The state's median home price of $238,200 in April compared with $245,000 a year earlier.

    Condominiums followed a similar pattern, with New London County sales rising 38 percent in April compared with a year ago and prices rising nearly 6 percent over the same period. The $110,000 median price for condos in April compared with $104,000 a year earlier.

    Condo sales statewide surged 9 percent in April, while prices fell 5 percent. The median condo price throughout the state was $163,450 in the month, a nearly $10,000 decrease from the previous year.

    l.howard@theday.com

    Twitter: @KingstonLeeHow

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