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Home prices in state continue rising

By Lee Howard

Publication: The Day

Published November 06. 2013 4:00AM
Trend has extended 12 straight months

Home prices throughout Connecticut rose for the 12th consecutive month in September, according to figures released Monday by a leading real estate publisher.

The Warren Group, publisher of the Boston-based Commercial Record, said single-family home sales statewide rose more than 20 percent in September compared with a year ago. The median sale price also rose $20,000 to $250,000, according to the latest figures.

"This was the best September in terms of single-family sales volume since 2007," said Warren Chief Executive Timothy M. Warren Jr..

Locally, sales increased by more than 16 percent, but prices fell about 2.5 percent. The median sale price of a New London County home in September was $221,900.

Local condo prices rose 11 percent compared with a year ago, while sales were up modestly. The median condo price in September was $138,750.

"Despite rising interest rates, home sales have remained strong this entire year," Warren said. "Median prices continue their upward surge ... indicating strong demand and a shortage of supply."

l.howard@theday.com

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