April 12, 2019
REAL ESTATE ROUNDUP

In advance of spring selling season, area home sales slow

PHOTO | Contributed
PHOTO | Contributed
PHOTO | Contributed
66 High St., Guilford

South-central Connecticut home sales got off to a slow start in the first quarter, in advance of a spring selling season that is typically the most active of the year.

In New Haven County, residential sales dropped by 5.4 percent for January through March of this year compared to the same period of 2018. That represented a total of 1,340 transactions this year, Berkshire Hathaway HomeServices New England properties reported, based on market data from the Norwalk-based SmartMLS multiple listing service.

In Fairfield County, residential transactions declined 4.7 percent from the first quarter of 2018, in spite of a larger inventory of properties hitting the market.

Just over 1,460 single-family homes sold between January and March in Fairfield County, according to Berkshire Hathaway, about 70 fewer than a year ago. The price of the median home was $379,000, a decline of 5.8 percent from the equivalent home sold in last year's first quarter.

"Entry level homes, those priced under $300,000, are the most active subset of the market," stated Candace Adams, CEO of the Wallingford-based Berkshire Hathaway affiliate, in her firm's latest quarterly report. "Home sales over $2 million dropped considerably this quarter."

Home sales fluctuated markedly across the region, with Bridgeport sales surging 22 percent from a year ago, compared to declines of more than 20 percent in New Haven, Milford and Stamford.

TRANSACTIONS

Once home to one of the nation's largest wheel factories, a residential condominium unit 66 High St., Guilford has sold for $1,370,850. The deal for Unit No. 35, which closed April 1, is the third largest transaction recorded in Guilford to date in 2019. Matt Healy of Page Taft-Christie's International's Guilford office represented the buyer in the transaction.

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