While November single-family mortgage activity dropped off compared to last year, Connecticut remains on pace to exceed both 2020 and 2019 levels.

Connecticut had 2,686 single-family purchase mortgages in November, down 18.6 percent from 3,300 in November 2020 but up 25.9 percent from 2,133 in November 2019, according to data from The Warren Group, publisher of The Commercial Record.

Single-family purchase mortgage volumes for November totaled about $1 billion, down 13 percent from November 2020, which saw $1.16 billion in volumes. Compared to pre-pandemic activity of $624.8 million in November 2019, volumes were up 61.6 percent.

Year-to-date through November, the state has had single-family purchase volumes of $12.03 billion, up 16.3 percent from $10.34 billion during the same time period in 2020 and up 55 percent compared to the first 11 months of 2019, when single-family volumes were $7.7 billion.

The median year-to-date single-family sale price was $332,000, up 10.6 percent compared to 2020 and 27 percent compared to 2019. The median sale price in November was $325,000.

The state had 30,171 single-family purchase mortgages year-to-date through November, up 2.8 percent compared to the first 11 months of 2020 and 16.8 percent compared to January through November of 2019.

Condominium purchase mortgages in November exceeded both 2020 and 2019 activity. Connecticut had 638 condominium purchase mortgages in November, up 11.5 percent from November 2020 and 49.4 percent from November 2019.

Year-to-date through November, the state has seen 6,767 condominium purchase mortgages, up 30.2 percent compared to the first 11 months of 2020. Activity this year has also exceeded pre-pandemic levels, with condominium purchases up 33.9 percent compared to January through November of 2019.

Condominium purchase volumes year-to-date through November were at $1.45 billion in Connecticut, up 36.4 percent over the same time period in 2020 and up 60.2 percent over the first 11 months of 2019.

The median year-to-date condominium sale price was $200,000, up 8 percent compared to 2020 and 20.5 percent compared to 2019.

Refinance activity is on pace to double volumes over the past two years. Connecticut has seen $77.35 billion in refinances for all residential property types during the first 11 months of 2021, up 117 percent from the same time period in 2020 and up 96 percent compared to January through November of 2019.