Local home sales and prices flat in June

New London County home sales and prices were relatively flat in June when compared with monthly statistics from a year ago.

The 199 single-family homes in the county sold this past June represented a 1 percent decline from a year ago, according to figures released today by The Warren Group, publisher of The Commercial Record. The median price of homes in the region edged down by an even smaller percentage to $229,000.

Connecticut as a whole, however, showed a 5.8 percent increase in single-family sales during the month, while prices fell 3.2 percent. The median price of a home statewide reached $276,000 in June, a $9,000 decline compared with a year ago.

“The housing market in Connecticut is showing signs of improvement as we see the biggest percentage gain in monthly home sales so far this year,” said Timothy M. Warren Jr., chief executive of The Warren Group, in a statement. “While not robust, the Connecticut real estate market continues to show a solid recovery.”

Statewide, Hartford County showed the most robust increase in home sales, up nearly 14 percent in June. Litchfield County had the softest numbers, with sales off nearly 10 percent for the month.

Condominium sales in New London County were up 11.5 percent in June. But prices declined by more than 18 percent, putting the monthly median at $115,000.

Warren noted that while the stock market has risen well above 2007 levels just before the U.S. financial collapse, real estate has not come back to its pre-recession peak.
“Bargains should be easy to find,” he said in a podcast.

Yet home sales in Connecticut are down almost 2 percent so far this year. And prices year to date are off by a similar percentage, putting the median in 2014 at $250,000.


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