Towns Bucking the Declining House Price Trend
Not all communities in Connecticut are seeing deep housing discounts. Take Newtown, for example. The median selling price for single-family homes in the scenic town about 60 miles from New York City climbed 10 percent to $500,000 in the first two quarters from $455,000 during the same period in 2008, according to The Warren Group.
The increase comes at a time when the statewide median home price fell 13 percent to $236,600 in the first six months of 2009 from $272,500 last year.
Despite the statewide decline, some communities have had double-digit gains in prices. The small charming town of Burlington, which has had only 36 sales transactions so far this year, saw its median home price escalate 32.5 percent to $375,000 from $283,000. In East Windsor, another Hartford County community, the median home price jumped 30 percent to $261,000 from $200,000.
And seaside Old Lyme saw prices increase 14 percent to $375,000 from $328,758.