Conn. home sales increase for 1st time in 7 years

Published on NewsOK Modified: February 7, 2013 at 7:37 am •  Published: February 7, 2013
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HARTFORD, Conn. (AP) — A real estate tracking firm says sales of single-family homes in Connecticut increased for the first time in seven years in 2012, but prices dipped slightly.

The Boston-based Warren Group issued a new report Wednesday showing that nearly 24,300 single-family homes in the state were sold last year, up nearly 14 percent from 2011 when sales hit record lows. But the median sales price dropped about 1 percent to $240,000 in 2012 compared with 2011.

The Warren Group's chief executive officer, Timothy Warren, says improving employment and consumer confidence boosted the housing market and he believes prices will slowly follow suit.

Condominium sales also increased. More than 6,100 condos were sold in 2012, a 7 percent increase over 2011. The median condo price decreased 5 percent to $163,000.