Research group: Home sales in Connecticut rise, prices fall

(Image: Shutterstock)


HARTFORD, Conn. (AP) — A real estate research group says sales of single-family homes in Connecticut rose more than 20 percent in August over the same month last year, though the median price fell 5.5 percent.

The Warren Group said Tuesday that 3,295 homes were sold in August, up from 2,741 in August 2014. The median price was $255,000, compared with $269,900 in August 2014. It was the fifth consecutive month of year-over-year decreases.

Chief Executive Timothy Warren Jr. said rising sales and decreasing median prices are not unusual as the real estate market recovers from a crash.

He says the improved economy and increase in jobs may be drawing buyers while prices are still low. The median price for 2015 so far is down from the 2007 peak by 15 percent.

 

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 

WTNH NEWS8 provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review. Also, you can now block any inappropriate user by simple selecting the drop down menu on the right of any comment and selection "Block User" from there.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s