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Rise in Median Sale Price of Single-Family Homes in Greater Hartford

Decrease in closed sales compared to last year

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(Hartford, Conn., October 22, 2018) – The median sale price of single family homes in greater Hartford increased 3.17 percent (from $221,000 to $228,000) over September of last year, according to the Greater Hartford Association of REALTORS® (GHAR). Closed sales decreased 19.98 percent (from 1106 to 885) and new listings dropped 4.65 percent (from 1571 to 1498). Inventory increased 0.39 percent (from 5162 to 5182) during this same year-over-year timeframe.

In year-to-date statistics, closed sales decreased 3.00 percent (from 9391 to 9109) and the median sale price increased 3.97 percent (from $223,000 to $231,850). New listings decreased 1.82 percent (from 15,022 to 14,749) from the beginning of the year, when compared to last year.

Condominium closed sales decreased 1.95 percent (from 256 to 251) over September of last year. The median sale price decreased 6.99 percent (from $149,450 to $139,000) and inventory decreased 9.92 percent (from 1159 to 1044), over September of 2017.

In year-to-date statistics, condominium closed sales decreased 1.50 percent (from 2130 to 2098) and the median sale price decreased 4.45 percent (from $154,900 to $148,000).

“A slowdown in sales is typical for this time of year,” stated GHAR CEO, Holly Callanan. “Until inventory increases, giving buyers options, sales may remain slower as winter approaches,” she said.

In the national outlook, Lawrence Yun, National Association of REALTORS® chief economist, says rising interest rates have led to a decline in sales across all regions of the country. “This is the lowest existing home sales level since November 2015,” he said. “A decade’s high mortgage rates are preventing consumers from making quick decisions on home purchases. All the while, affordable home listings remain low, continuing to spur underperforming sales activity across the country.”

 

The Greater Hartford Association of REALTORS® (GHAR) is the largest local real estate trade association in Connecticut, serving over 4000 members in the 57 town Greater Hartford real estate brokerage community. The Association provides technology, training, networking and business support to members, and supports a healthy real estate market by upholding high professional and ethical standards through a Code of Ethics, ongoing education and certification programs. As the advocate for the real estate brokerage industry, GHAR is the Voice for Real Estate® in the Greater Hartford region. For more information, call 1.860.561.1800 or visit www.gharonline.com

Keara Langston, Communications Director, klangston@gharonline.com
Greater Hartford Association of REALTORS®
t: 860.561.1800  f: 860.561.3573
www.gharonline.com

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Rise in Median Sale Price of Single-Family Homes in Greater Hartford 

Monday, October 22, 2018
The median sale price of single family homes in greater Hartford increased 3.17 percent (from $221,000 to $228,000) over September of last year, according to the Greater Hartford Association of REALTORSŪ (GHAR). Closed sales decreased 19.98 percent (from 1106 to 885) and new listings dropped 4.65 percent (from 1571 to 1498). Inventory increased 0.39 percent (from 5162 to 5182) during this same year-over-year timeframe.
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Closed Sales of Single-Family Homes in Greater Hartford Rise 

Wednesday, September 19, 2018
According to the Greater Hartford Association of REALTORSŪ (GHAR), closed sales of single family homes in greater Hartford increased 3.15 percent (from 1302 to 1343).
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Increase in Closed Sales of Single-Family Homes in Greater Hartford 

Thursday, August 16, 2018
Closed sales of single family homes in greater Hartford increased 2.51 percent (from 1274 to 1306), according to the Greater Hartford Association of REALTORSŪ (GHAR). The median sale price increased 7.14 percent (from $232,950 to $249,580) and new listings rose 0.82 percent (from 1699 to 1713), over July of last year. Inventory decreased 3.79 percent (from 5492 to 5284) during this same year-over-year timeframe.
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Sales Price of Single-Family Homes in Greater Hartford Drops 

Monday, July 23, 2018
According to the Greater Hartford Association of REALTORSŪ (GHAR), the median sale price of single family homes in greater Hartford fell 6.25 percent (from $240,000 to $225,000) over June of 2017. Closed sales decreased 2.64 percent (from 1440 to 1402) and new listings fell 1.32 percent (from 1964 to 1938). During this same year-over-year timeframe, inventory dropped 11.04 percent (from 6086 to 5414).
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Decreased Inventory of Single-Family Homes in Greater Hartford 

Monday, June 18, 2018
According to the Greater Hartford Association of REALTORSŪ (GHAR), closed sales of single family homes in greater Hartford decreased 2.33 percent (from 1115 to 1089) and new listings decreased 4.99 percent (from 2264 to 2151) over May of 2017. The median sale price fell 1.70 percent (from $228,900 to $225,000). During this same year-over-year timeframe, inventory dropped 13.06 percent (from 6147 to 5344).
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Steady Rise in Median Sales Price of Single-Family Homes in Greater Hartford 

Thursday, May 17, 2018
According to the Greater Hartford Association of REALTORSŪ (GHAR), the median sale price of single family homes in greater Hartford rose 7.14 percent (from $210,000 to $225,000) over April of 2017. Closed sales increased 7.13 percent (from 884 to 947) and new listings increased 0.58 percent (from 1896 to 1907). During this same year-over-year timeframe, inventory dropped 13.06 percent (from 5758 to 5006).
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Median Sales Price of Single-Family Homes in Greater Hartford Rises 

Thursday, April 19, 2018
The median sale price of single family homes in greater Hartford rose 7.10 percent (from $210,000 to $224,900) over March of 2017, according to the Greater Hartford Association of REALTORSŪ (GHAR). Closed sales increased 1.98 percent (from 809 to 825) and new listings decreased 3.91 percent (from 1689 to 1623). During this same year-over-year timeframe, inventory dropped 21.49 percent (from 5148 to 4505) and the average number of days on market increased 25.00 percent (from 72 to 90 days).
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Slight Increase in Closed Sales of Single-Family Homes in Greater Hartford 

Monday, March 19, 2018
According to the Greater Hartford Association of REALTORSŪ (GHAR), closed sales increased 0.71 percent (from 567 to 571) over February of last year. The median sale price rose 12.57 percent (from $191,000 to $215,000) and new listings increased 7.72 percent (from 1178 to 1269). During this same year-over-year timeframe, inventory dropped 14.57 percent (from 4832 to 4128) and the average number of days on market increased 27.03 percent (from 74 to 94 days).
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Rise in Median Sale Price of Single-Family Homes in Greater Hartford 

Tuesday, February 20, 2018
According to the Greater Hartford Association of REALTORSŪ (GHAR), the median sale price rose 7.01 percent (from $195,300 to $209,000) over January of 2017. Closed sales decreased 20.00 percent (from 805 to 644). New listings decreased 10.76 percent (from 1236 to 1103) and inventory dropped 15.84 percent (from 4546 to 3826). The average number of days on market increased 18.67 percent (from 75 to 89 days), during this same timeframe.
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Drop in Closed Sales of Single-Family Homes in Greater Hartford 

Thursday, January 18, 2018
Closed sales of single family homes in greater Hartford decreased 3.39 percent (from 945 to 913) from this December over December of last year, according to the Greater Hartford Association of REALTORSŪ (GHAR). The median sale price increased 1.86 percent (from $215,000 to $219,000) and new listings dropped 7.22 percent (from 803 to 745). Inventory decreased 21.52 percent (from 4814 to 3778) and the average number of days on market increased 17.39 percent (from 69 to 81), over December of last year.

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