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Connecticut Home Prices Rise as Sales Hold Firm in 2010 — Prudential Connecticut Realty Releases 4th Quarter Real Estate Market Report

January 24, 2011 — Original Story PR Newswire WALLINGFORD, Conn., Jan. 24, 2011

According to a report released by Prudential Realty Connecticut home prices are coming back. Connecticut saw an increase in median price in single-family homes of 4% in 2010, according to area multiple listing services. Fairfield, Hartford, Litchfield and New Haven Counties each gained, showing evidence of our market stabilizing.

In other news condominium prices in Hartford, Tolland, Fairfield and New London Counties are faring well too. Median single family homes saw average price increases of 4% while the average time required to sell a home rose by 10% to 8.8 months.

The report shows condominium inventory supply times dropped from 1% from 10 months to 9.9 months, no doubt encouraging news for those who are selling. Other positive indicators are starting to emerge with building permit activity up 19% to a projected 3,900 +/- permits issued across the State.

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Connecticut Home Prices Rise as Sales Hold Firm in 2010 — Prudential Connecticut Realty Releases 4th Quarter Real Estate Market Report