Connecticut’s home sales were down in the third quarter while median sales prices were on the rise, according to new data from SmartMLS, the state’s multiple listing service for residential real estate.
During the third quarter, Connecticut recorded 9,871 total sales, down1.3% from the same period in the prior year. This occurred as the total number of listings was 11,644, up 4.4% from the third quarter of 2023.
The median sale price for the third quarter was $417,500, up 9.1% from one year before. The average cost per square foot of real estate increased by 8.4% to $275, compared to $253 in the third quarter of 2023.
Michael Barbaro, president of SmartMLS, observed, “The data shows that demand for housing is not slowing down any time soon, which is why a strong, transparent real estate industry is more important than ever before. SmartMLS continues to be committed to preserving and protecting the open marketplace, with the goal of making the industry more accessible for first-time homebuyers and disadvantaged communities to find a home that fits the needs of their family.”
Photo: Doug Kerr / Flickr Creative Commons
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