Single-family home sales in Connecticut plunged 23.8 percent in July from a year ago, the ninth consecutive month that sales have fallen by more than 20 percent, according to The Warren Group, The Commercial Record’s parent company. It was the worst sales pace for the month of July in 13 years.
Single-family home sales tumbled to 2,830 in July from 3,716 in July 2007. The last July that home sales fell below 3,000 was in 1995, when 2,802 sales were recorded. A total of 14,725 homes were sold from January through July, a 25.3 percent decline from the 19,714 units sold during the same months a year earlier.
The median price for single-family homes fell 8.2 percent to $289,250 in July from $315,000 in July 2007. The year-to-date median home price is $275,000, 8.3 percent lower than a year earlier when the median was $300,000.
July was a particularly difficult month for Tolland and Windham counties, which saw sales plummet by more than 30 percent. Single-family home sales in Tolland County dropped 39 percent to 108 for the month, from 177 last year. The median single-family home price in Tolland County fell 9.7 percent to $238,500 in July from $264,000 a year ago.
In Windham County, sales backtracked 34.9 percent to 71 from 109 in July 2007. The median home price eased slightly, falling .50 percent to $217,900 from $219,000.