Housing market made solid gains in February

Single-family home and condominium sales in Connecticut saw solid increases in Feberuary, according to a report released Wednesday by The Warren Group, a Massachusetts-based provider of real estate data.

There were 1,721 singlefamily home sales in the state in February, a 4.2 percent increase from the same period in 2019 and a threeyear high for the month. The median single-family home sale price for February was up 9.8 percent, or $22,000, to $247,000, a 12-year high for the month.

Tim Warren, chief executive officer of The Warren Group, said the gains need to be taken with a grain of salt.

“Because of COVID-19, the next few months are more uncertain,” Warren said in a statement. “I expect that some (home sale) closings may have been postponed in March as the stay at home recommendations took effect. For the months ahead, we must expect that

fewer people will be out home shopping and fewer new listings of homes for sale.”

Year-to-date, single-family home sales in Connecticut increased by a 6.1 percent over the first two months of 2019. The median sale price for single-family home sales over the first two months was $250,000, a $20,000 or 8.7 percent increase over the same period in 2019.

There were 534 sales of condominiums in Connecticut during February, a 10.6 percent increase over the same period in 2019. The median sale price for condominiums jumped 10.3 percent to $160,000 in February compared to the same period in 2019.

Condominium sales over the first two months of this year saw an 8.5 percent increase over the same period in 2019. The median sale price of condominiums sold during the first two months of 2020 was $161,000, a 7.3 percent increase over the same period last year.

“The median condo sale price of $160,000 marked a nine-year high for the month of February and 534 transactions marked the most sales for the month since February 2008,” Warren said. “However, like the single-family market in the coming months, I expect the current situation with COVID-19 to have a significant impact on activity starting in the second quarter.”

Single-family home sales in New Haven County took a hit in February, falling 3.5 percent from the same period in 2019. Over the first two months of this year, New Haven County single-family home sales were down by 1.1 percent over the same period in 2019.

But the median sale price for single-family homes in February increased by 4.1 percent or $8,250 to $208,750. The median sale price for single-family homes in New Haven County during the first two months of 2020 was up by 5 percent or $10,000 to $210,000 compared the same period last year.

The Fairfield County single-family housing market fared much better than New Haven County, both in terms of February performance and the year-to-date numbers.

Fairfield County single-family home sales for the month were up 2.5 percent compared to February 2019, and year-to- date home sales were up by 7.1 percent compared to the same period in 2019.

The median sale price for single-family homes sold in Fairfield County during February rose by $15,000 or 3.9 percent to $400,000. The median sale price for singlefamily homes in Fairfield County that were sold over the first two months of this year was up 3.8 percent or $15,550 to $425,500.

Condominium sales in New Haven County in February were up 9.4 compared to the same period in 2019. Year-to-date, New Haven County condominium sales increased by 7 percent over the first two months of 2019.

The median sale price for condominiums sold in New Haven County during February was up 11.6 percent or $14,000 to $135,000, while the year-to-date median sale price for condominiums was up 10.5 percent or $13,000 to $136,500.

The median sale price for condominiums sold in Fairfield County in February was up 14.5 percent, or $32,000, to $252,000 compared to same period last year. Year-to-date, the median sale price for condominiums in Fairfield County was up 5.7 percent or $13,500 to $249,750.