State of Connecticut Home Sales

January 14, 2009
Matt Isleib

 

While the Connecticut housing market may not be as bad as some of the “ground zero states” of the housing meltdown it is certainly on the decline. The state has heavy ties from a population stand point to the financial markets especially in Fairfield County and the insurance sector in Hartford and its surrounding areas.   

 

Late last week The Warren Group, the Boston based publisher of The Commercial Record  reported a 26.6 percent drop in single family home sales as well as a 16.2 percent median price drop between November 2007 and November 2008.

 

It will certainly be interesting to see what the years’ end figures will be. Being a mortgage broker I see appraisals on a regular basis and in some towns the prices have been flat but that is mainly due to a lack of sales in that respective town.  In some instances I have seen sharp declines and in speaking with several appraisers that cover the state they are reporting the same thing.

 

Below is a brief look on a Town by Town basis:

 

 Town                 07 sales-08 sales            Median price 07-08

Ansonia Homes sold 14-7 -50%              Price $236,650 - $190,000 -19.71%

Bridgeport Homes sold 40-33 -17.5%     Price $235,950 - $168,500 -28.59%

Derby Homes sold 4-4 0.00%                  Price $260,500 - $249,000 -4.41%

Easton Homes sold 4-10 150%                Price $618,750 - $577,500 -6.67%

Fairfield Homes sold 46-19 -58.7%         Price $598,000 - $615,000 2.84%

Milford Homes sold 41-22 -46.34%         Price $355,000 - $261,250 -26.41%

Monroe Homes sold 17-16 -5.88%           Price $439,000 - $423,750 -3.47%

Oxford Homes sold 5-13 160%                 Price $363,400 - $345,000 -5.06%

Seymour Homes sold 8-6 -25%                 Price $241,250 - $263,500 9.22%

Shelton Homes sold 27-16 -40.74%          Price $375,000 - $327,500 -12.67%

Stratford Homes sold 26-24 -7.69%           Price $264,950 - $266,950 0.75%

Trumbull Homes sold 28-22 -21.43%        Price $423,000 - $362,500 -14.3%

Applying for and shopping mortgage rates is a click away www.EversleyCapital.com