July 17, 2007
Housing prices up, sales down
Connecticut housing prices rose 5 percent compared to last year, but the number of houses sold dipped significantly. Boston-based The Warren Group found year-to-date sales as of May dropped by 4.8 percent and sales in the month of May dropped 13.7 percent. The market trend in Connecticut is similar to Massachusetts and Rhode Island, where year-to-date sales fell by 3 percent and 5.4 percent respectively. Unlike those two states, median prices in Connecticut rose in May, as they did in January and April. Warren Group CEO Timothy Warren Jr. attributed the statewide jump to a 10.1 percent boost in May for Fairfield County while the rest of the state had more typical trends of falling prices.
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