Connecticut REALTORS® reports that single-family residential home sales in Connecticut increased 9.6 percent comparing May 2016 to May 2015.
The median sales price of $250,000 reflects a 3.8 percent decrease from this period last year. Median indicates that half the homes sold for more and half for less. Total units of homes sold were 3,042 in May 2016 and 2,776 in May 2015.
Townhouses and condominium sales in Connecticut decreased 8.2 percent comparing May 2016 to May 2015; with a median sales price of $163,000 representing a 1.2 percent increase from $161,000 in that same time period in 2015. Total units sold were 685 in May 2016 and 746 in May 2015.
Statistics released by the National Association of REALTORS® indicate total home sales nationwide (includes single-family homes, townhomes, condominiums and co-ops) increased 4.5 percent comparing May 2016 to May 2015; and the median national home sales price is $239,700. Regionally, Northeast home sales increased 11.6 percent in that same time period; with a median sales price of $268,600.
At 364 single family homes sold in May, 2016, Eastern Connecticut fared more favorably than the state with a 19% increase over May, 2015. The median price ticked up a percentage point at $200,000 from this time last year, while the average price went up 2,5% at $247, 700 over $240,900.