Shelton home prices and sales are on the increase

Shelton-House-ForSale

A house with a For Sale sign in the region. (File photo)

 

Real estate prices and sales in Shelton are up sharply this year, according to the Warren Group, a real estate and financial data company.

Statewide, real estate prices are rising at a strong pace while the level of sales is more mixed.

 

The single-family sales figures for Shelton are:

 

June sales

2013 — 27

2012 — 23

+17.4%

 –

Year-to-date sales

2013 — 110

2012 — 100

+10%

 –

June median sale price

2013 — $380,000

2012 — $312,700

+21.5%

 –

Year-to-date median sale price

2013 — $300,000

2012 — $288,700

+3.9%

 –

 

Statewide home sales up 1%

Connecticut single-family home sales recorded modest increases in the second quarter and in the month of June, according to the latest report by the Warren Group, publisher of the Commercial Record.

Second quarter single-family home sales totaled 6,898, a nearly 1% increase from 6,854 in the second quarter of 2012.

Single-family home sales in Connecticut also increased slightly in June, rising 0.4%, the second straight month of increases. A total of 2,602 single-family homes sold in June, up from 2,591 a year earlier. This marks the best month for sales since last August, when there were 2,639 sales.

 

‘A steady recovery’ in Connecticut

“The housing market in Connecticut continues to show slow growth,” said Warren Group CEO Timothy M. Warren Jr. “As long as mortgage rates and home prices don’t spike too high, we’ll see a very steady recovery year for the market in 2013.”

Year-to-date home sales statewide are down about 1%. From January to June, a total of 10,947 single-family homes have sold, compared to 11,070 during the same period a year ago.

 

Prices going up around the state

Year-over-year home prices in Connecticut rose 5.6% in June. The median sale price of a single-family home statewide increased to $283,000 in June, up from $268,000 in June 2012. This is the highest median price for any month since August 2008.

The median price means half of all houses sold for more and half sold for less.

The year-to-date median sale price in Connecticut is $255,000, up more than 8.5% from $234,900 during the same period last year. Quarterly prices are also up more than 8% to $269,000, up from $249,000 during the second quarter 2012.

 

Avoiding a new housing bubble

“Buyers have become more active in the spring selling season, which is creating modest upward pressure on prices,” Warren said. “While not a problem at this juncture, I hope for more modest increases in the future.

“Unlike other parts of the country, Connecticut has not seen double digit increases in median prices,” he continued. “This is healthy. Keeping housing affordable while prices rise gradually will avoid the kind of housing bubble we saw seven or eight years ago.”

 

Statewide condo sales

Connecticut condominium sales increased in June, rising almost 2% from a year earlier. A total of 652 condos sold statewide in June, up from 641 a year earlier. Year-to-date condo sales are up almost 1%, to 2,911 from 2,885 a year earlier.

Condo sales for the second quarter also climbed from a year earlier. In the second quarter, 1,792 condos sold, up 2.5% from 1,748 during the same period a year ago.

The median sale price of condos also rose in June. The median selling price was $176,000, up more than 7.6% from $163,500 a year earlier. The second quarter median condo price increased more than 8% to $175,000 from $162,000 in the second quarter 2012.

The year-to-date median price of condos in the Connecticut is $168,000, up 5% from $160,000 a year ago.

 

Shelton condo market statistics

Below are the statistics for the Shelton condo market:

 

June sales

2013 — 19

2012 — 8

+137.5%

 –

Year-to-date sales

2013 — 56

2012 — 34

+64.7%

 –

June median sale price

2013 — $235,000

2012 — $246,500

-4.7%

 –

Year-to-date median sale price

2013 — $244,100

2012 — $265,000

-7.9%

 –

 

About the Warren Group

The Warren Group, based in Boston, is the publisher of The Commercial Record, Banker & Tradesman, and a series of association publications. The company provides a range of real estate products and services for professionals and consumers searching for real estate and financial information. Learn more at www.thewarrengroup.com.

 

 

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