Community Corner
CT Home Sales Weakest in New England in 2011
Single-family home, multi-family home and condominium sales in the Nutmeg State were down in 2011, according to the Norwich Bulletin.
Connecticut's real estate market experienced the steepest decline in 2011 among New England's six states, according to the Norwich Bulletin.
RE/MAX New England's 2012 Housing Market Outlook and Forecast, which was released on Wednesday, reported that single-family home sales in Connecticut decreased by 8.4 percent compared to 2010 with an average sale price decline of 1.8 percent. Condominium and multi-family home sales also dropped by 15.9 and 16.2 percent, respectively. In addition, the average amount of days it took to sell properties increased last year for all three categories.
In Fairfield County, specifically, single-family and multi-family home sales decreased by 6.5 and 8.5 percent, respectively. Bridgeport, Stamford and Norwalk were among the areas that saw an increase in foreclosures last year.
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New Hampshire was the only state in New England to see an increase in single-family home sales in 2011, while Vermont was the only state to see an uptick in sale prices.
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