August was a good month for home sales in Connecticut. It was the second straight month that single-family home sales increased in Connecticut, The Warren Group reports today.

Here’s what’s not mentioned in the report: while sales of lower-price single-family homes helped to prop up the overall sales volume, higher-end home sales are dragging.

As I mentioned in this blog earlier this month, lower-priced homes were moving at a faster pace in July than residences with much bigger price tags.

If you add August transactions to the mix, single-family homes priced $150,000 to $300,000 shot up almost 17 percent compared to the same months in 2008.

In contrast, homes priced $700,000 and higher plunged nearly 24 percent – ouch!

But homeowners who are trying to unload an upscale property don’t despair.

If sales volume continues to climb in the lower-end of the real estate market that could trickle up to more upscale properties as homeowners seeking to trade up are finally able to make a move because they no longer have to worry about selling their starter homes.

This entry was posted on Thursday, October 1st, 2009 at 8:50 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.