Home Sales Up, Prices Down in Connecticut

The good news is that the housing market is livelier in September than the same month last year, with home sales up 2 percent. The bad news for homeowners is that prices have slipped 2.9 percent.

The latest report from RE/MAX of New England analyzed five states in the region, and Connecticut and Rhode Island are the only two that saw a decline in prices. The median price in Connecticut slipped from $273,000 to $265,000.

Connecticut fared modestly with its improvement in total sales, between a 2.5 percent decline in Vermont and a 5.7 increase in Massachusetts.

Overall New England had a 5.7 percent improvement in sales.

“September’s numbers are encouraging. However, election years tend to result in lower consumer confidence,” said Dan Breault, executive vice president and regional director of RE/MAX of New England. “In New England, we’ve seen an increase in activity throughout 2012, however, prices need to increase to realize a full housing market recovery. We’ll be watching the data post election cycle, carefully.”

The upward trend in sales is consistent – but less positive - than the August home sales released by The Warren Group. Home sales jumped nearly 12 percent in August compared to the same month last year, according to that report.