Single-family home prices in the region declined by 8.6 percent and condominiums lost 13 percent of their value over the course of 2011, according to year-end statistics released this week.
For the first time since 2002, homes in New London and Windham counties finished the year with a median sales price below $200,000, according to figures released by the Eastern Connecticut Association of Realtors and available on its web site at http://www.easternctrealtors.com/marketstatistics.html. The $192,000 median for 2011 compares with $210,000 the year before and is the lowest since 2003's year-end median of $174,000.
Single-family sales also were off for the year, down 12 percent from the numbers recorded in 2010. Condominium sales were up 4.6 percent on the year, but the median sales price was $140,000 compared with $161,000 the year before.
Mobile home, land, multifamily and commercial real estate sales also saw fewer transaction numbers throughout the year.
Lyme finished the year with the highest median home prices in New London County, at $631,500, followed by Old Lyme, $347,000; East Lyme, $282,500; Stonington, $280,000, and Salem, $251,875. Towns in the county with the lowest prices were Norwich, $138,000; North Stonington, $140,000; Griswold, $150,000; Montville, $174,000, and Voluntown, $188,500.
Source: http://www.theday.com/article/20120110/BIZ02/120119985/1047/NWS
No comments:
Post a Comment