Tuesday, March 11, 2008

Falling Prices

Sales of single-family houses in Connecticut dropped 29% in January, from 2,302 in January 2007 to 1,644 in January 2008… The fifth [consecutive] month… in which sales have dropped by double-digit percentages in Connecticut.

The median sales price of single-family houses fell 5.3% in January from $282,000 in 2007 to $267,000 in 2008… In Hartford County, the median price fell 8%, from $238,750 to $220,000…

The second month in a row that the median sales price has dropped. With spring arriving soon, the drop in median prices is foreboding… Median sales prices held steady in 2007

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