Homes sales, prices increase in Shelton and all of CT

Shelton-HouseForSaleSignFIHome sales in Shelton almost doubled in August compared to the same month a year earlier, according to the Warren Group, publisher of The Commercial Record.

Forty-one single-family homes were sold in August 2013 in the city vs. 21 in August 2012.

Year-to-date sales in Shelton through August, considered a more reliable statistic because it covers a longer time period, showed an increase of 21% vs. the previous year.

Prices are up in Shelton as well, increasing from 4% to 9% in the past year, according to Warren Group data. The median price for a house sold in Shelton was $346,000 in 2013, compared to $316,950 in 2012.

The median prices means half of all sales were at a higher price and half were at a lower price.

 

Statewide market also improving

The trends in Shelton match those statewide. Sales of Connecticut single-family homes rose almost 10% in August, marking the highest sales volume for the month since 2007, according to the Warren Group.

A total of 2,893 single-family homes sold in Connecticut in August, up from 2,639 sales in August 2012. This is the best August since 2007, when there were 3,726 sales.

Year-to-date sales have increased 4% across the state.

 

Median home price in CT is $285,000

The statewide median price of a single-family home rose for the 11th straight month, climbing to $285,000 in August, up almost 12% from $255,000 the same month last year.

Statewide, the year-to-date median price is up 9% through August.

Condo sales volume also has increased in Shelton and on a statewide basis.

 

Impact of seasonality

“We’re already seeing how the seasonality affects the market, with sales dropping in August compared to July, and this will probably continue in the fall and winter months,” said Warren Group CEO Timothy M. Warren Jr.

“While the market has proved to be strong so far this year, there is much concern over how the government shutdown will impact the overall economy,” Warren said.

 

Shelton statistics

Sales volume and price information for Shelton is as follows:

SINGLE-FAMILY HOMES

August sales

2013 — 41

2012 — 21

+95%

 –

Year-to-date sales

2013 — 182

2012 —151

+21%

 –

August median sale price

2013 — $346,000

2012 — $316,950

+9%

 –

Year-to-date median sale price

2013 — $312,250

2012 — $300,000

+4%

 –

CONDOS

August sales

2013 — 13

2012 — 11

+18%

 –

Year-to-date sales

2013 — 84

2012 — 58

+45%

 –

August median sale price

2013 — $132,000

2012 — $235,000

+78%

 –

Year-to-date median sale price

2013 — $244,100

2012 — $248,000

—2%

 –

Statewide condo sales and prices

In August, Connecticut condominium sales rose almost 3%. Sales statewide increased to 683 in August, up from 664 in August 2012. This is the highest number of condo sales recorded for the month since 2009.

Year-to-date condo sales are also up about 7%, increasing to 4,438 from 4,141 during the previous year.

The median sale price of Connecticut condos increased almost 16% in August to $190,000, up from last year’s $164,250. The year-to-date median price of condos in Connecticut rose more than 7% to $172,500, up from $161,000 a year ago.

 

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 offers real estate and financial data and related services for professionals and consumers. Learn more at www.thewarrengroup.com.

 

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