Business & Tech
CT Home Sales Worst in New England in 2011
In 2011, Connecticut fared worse than any other New England state in sales of single-family homes, multi-family homes and condominiums, says the RE/MAX New England's 2012 Housing Market Outlook and Forecast.
Connecticut's real estate market experienced the steepest decline among New England's six states in 2011, according to the Norwich Bulletin.
RE/MAX New England's 2012 Housing Market Outlook and Forecast, which was released on Wednesday, reported that the volume of single-family home sales in Connecticut decreased by 8.4 percent compared to 2010, and the average sale price declined 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.
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In Fairfield County, 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.
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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