Home sales in Stonington were up 24 percent through July

Home sales in Stonington were up 24 percent through July

The Westerly Sun

Single-family home sales in Stonington through July were running more than 24 percent higher this year than in 2016, according to the latest report from The Warren Group, of Boston, publisher of The Commercial Record. In July, 28 home sales were recorded in Stonington, compared with 16 in the same month last year. Year-to-date in 2017, the total was 122, compared with 98 a year ago.

Warren, which bases its figures on deed filings, said Tuesday that the median price in Stonington was $302,500 in July, compared with $407,500 last year. Through July, the median price was $316,259, down slightly from the same point in 2016, $317,000.

Sales of condominiums in Stonington have also risen this year, to 17 from 9, with 5 of the sales occurring in July. The year-to-day median condo price through July was $293,000, compared with $250,000 in 2016. By way of comparison, the 2017 year-to-date median condo price for all of New London County was $135,750.

In North Stonington, single-family home sales in the first seven months of 2017 totaled 44, one more than the previous year, and the corresponding median price was $265,000, compared with $240,000 in 2016. There were 5 sales in July, 2 fewer than July 2016.

For all of New London County, year-to-date home sales have increased 13 percent this year, to 1,634, and the median price as of the end of July was $2218,750, up 4.7 percent. The July number was up 21 percent, to 279.

Statewide, Warren reported that single-family home sales jumped 12.7 percent in July, to 3,641, and the median price was up 2.7 percent, to $267,000. The year-to-date total is 19,287 home sales, an increase of 8.4 percent. The year-to-date median price was $249,000, compared with $245,728 over the same period of 2016.

“Even a moderate increase in the median sale price is welcome news in Connecticut,” said Timothy Warren, CEO of The Warren Group. “Although the year over year price increase has remained relatively flat, prices have been on the rise in recent months — a positive sign in a state that has seen the median price decline in two of the past three years.”


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