New London County home sales surged in May while prices were relatively flat, according to the latest numbers reported Tuesday.

The Warren Group, publisher of The Commercial Record, posted numbers showing New London County single-family sales rising 14.3 percent compared with May of last year. At the same time, the region's median price of $226,250 during the month was a fraction of a percent lower than last year's May median.

Cassidy Murphy, editorial director of The Warren Group, said the dichotomy between surging sales and lagging prices can be explained in one word: inventory.

"There's a lot for buyers to choose from, and it's depressing prices," she said in a podcast.

Statewide numbers paralleled the real estate market in New London County, with sales up 13.8 percent in May compared with the same month last year while prices were slightly lower. It was, however, the fourth straight month of single-family sales increases.

"The improving job market is a very strong part of it," Murphy said. "People are more confident in their decision (to buy) ... knowing that the job market has improved."

Murphy added that she expects prices to "bump up slowly" as June and July sales figures start to filter in.

"To see us swinging into a strong spring selling season is very encouraging," Murphy said.

Condominium sales in May were up 1.5 percent statewide. And year to date, condo sales have seen a 7.4 percent rise.

Prices, though, have been going in the other direction, with May's median of $162,500 down 2.8 percent from a year ago. Year to date, prices are down 3 percent in Connecticut.

l.howard@theday.com

Twitter: @KingstonLeeHow