Last Update: March 12 @ 10:29 PM
Real Estate
New London, Windham home sales down


BOSTON – Single-family home sales in Connecticut’s Windham and New London counties fell in May by 10.1 percent and 15.8 percent year-over-year, respectively.

Statewide, sales fell by a greater percentage – 18.5 percent, according to data released this week by The Warren Group, a Boston-based real estate tracker.

In Windham County, sales fell from 89 to 80 single-family homes. In New London County, they fell from 196 to 165 homes, TWG reported. Statewide, sales dropped from 2,289 to 1,865 homes.

“The sale of foreclosed homes has become a larger share of the residential real estate market in Connecticut,” CEO Timothy M. Warren Jr. said in a statement on Monday. “Still, those sales haven’t helped to boost the state’s housing market because sales in May were anemic.

“In the late 1990s and into the early part of this century, Connecticut was averaging over 3,500 single-family home sales during the moth of May. Last month, we had fewer than 1,900 home sales, making it the slowest sales pace for the month of May since we started tracking changes in real estate sales in 1987.”

The statewide median price in May fell to $238,000, a 12.5 percent drop from the May 2008 median price of $272,000. The median price in New London County fell 13.5 percent, dropping to $210,000. In Windham County, the median price fell to $171,000, a 0.9 percent drop from the prior May.

The Warren Group Inc. is a provider of New England real estate data and the publisher of Banker & Tradesman and other journals. Additional information is available at TheWarrenGroup.com.

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