New London County home sales flat in June compared with May

New London County home sales were basically unchanged in June with only one more home being sold than in May, Randall Realtors reported Monday. Yet the median price for June homes sold rose 4 percent to $220,000.

There were 257 homes under deposit heading into July, a health market signal, Randall said. The number of homes sold in June was highest since September 2010. Thinning inventory makes price stability or increases more likely, Randall said. There were 2,000 homes actively on the market in June, down about 300 from earlier in the year, the brokerage said. Yet Randall Realtors CEO Doug Randall said Eastern Connecticut’s housing market remains “fragile.”

“Many eager buyers cannot afford higher down payments required in the wake of the housing collapse, and the fate of the U.S. debt ceiling and Europe’s continuing debt crisis could impact housing in coming months,” the CEO said in a press release.

The number of New London County homes sold through the first six months of the year was down 23 percent to 823 from 1,075 last year with median price dropping 7 percent to $205,000 from $220,500. The end of government tax credit and a weak job market are factors in the declines. Groton had the most sales in June with 19 at a median price of $223,500. Norwich was second with 16 sales at a median of $161,700.