August Home Sales Heat Up in New London County
Rising Condominium Sales Should Relieve CT Owners
According to a new article by Lee Howard at The Day Newspaper, home sales are on the rise in southeastern CT with a median sales price of $225,000, up from $218k. Condominium sales however rose more significantly, from $127,000 to $220,000. Statewide, the median condo price so far this year is $172,500- a more than 7 percent increase from the median of $161,000 a year ago. These August numbers for condominium units sold are the highest since 2009. Statewide, condo sales rose 3 percent and the median price zoomed up nearly 16 percent.
Although this is a small sample size, the numbers are encouraging for southeastern CT, which has lagged the state and nation as a whole in its economic recovery.
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