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Median Sales Price of Single-Family Homes in Greater Hartford Increases 14 Percent

Closed sales decrease 14 percent

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(Hartford, Conn., September 16, 2021) – According to the Greater Hartford Association of REALTORS® (GHAR), the median sales price of single-family homes in Greater Hartford increased 14.4 percent over August of 2020 (from $288,500 to $330,000). Closed sales decreased 13.7 percent (from 840 to 725) and ending sales decreased 6.8 percent (from 784 to 731). The number of days on market decreased 43.9 percent (from 41 to 23 days). New listings decreased 7.7 percent (from 822 to 759) and inventory dropped 31.7 percent (from 1864 to 1273), during this same timeframe.

In year-to-date statistics, year over year, new listings decreased 2.0 percent (from 6133 to 6008). Pending sales increased 6.7 percent (from 4788 to 5109) and closed sales increased 5.6 percent (from 4554 to 4808). The median sales price increased 17.9 percent (from $265,000 to $312,500) and the average days spent on market decreased 43.6 percent (from 55 to 31 days), during this same year to date, year over year, timeframe.

Condominium closed sales increased 9.9 percent (from 181 to 199) and pending sales decreased 14.7 percent (from 197 to 168) over August of 2020. The median sales price increased 9.4 percent (from $180,000 to $197,000) and inventory decreased 29.0 percent (from 458 to 325). The average days on market decreased 31.7 percent (from 41 to 28 days). New listings decreased 10.3 percent (from 223 to 200) over this time, versus a year ago.

“It’s typical to see a slow down of sales this time of year as schools start up,” said GHAR CEO, Holly Callanan. “Until inventory begins to increase, prices are likely to remain on the high side,” she said.

In the national outlook, Lawrence Yun, NAR’s Chief Economist states, "Although we shouldn't expect to see home prices drop in the coming months, there is a chance that they will level off as inventory continues to gradually improve. In the meantime, some prospective buyers who are priced out are raising the demand for rental homes and thereby pushing up the rental rates.”

 

The Greater Hartford Association of REALTORS® (GHAR) is the largest local real estate trade association in Connecticut, serving over 5000 members in the Greater Hartford and Litchfield County 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
Greater Hartford Association of REALTORS®
t: 860.561.1800  f: 860.561.3573
www.gharonline.com

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Median Sales Price of Single-Family Homes in Greater Hartford Increases 14 Percent 

Thursday, September 16, 2021
According to the Greater Hartford Association of REALTORS® (GHAR), the median sales price of single-family homes in Greater Hartford increased 14.4 percent over August of 2020 (from $288,500 to $330,000). Closed sales decreased 13.7 percent (from 840 to 725) and ending sales decreased 6.8 percent (from 784 to 731). The number of days on market decreased 43.9 percent (from 41 to 23 days). New listings decreased 7.7 percent (from 822 to 759) and inventory dropped 31.7 percent (from 1864 to 1273), during this same timeframe.
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Median Sales Price of Single-Family Homes in Greater Hartford Up 15 Percent 

Tuesday, August 17, 2021
According to the Greater Hartford Association of REALTORS® (GHAR), the median sales price of single-family homes in Greater Hartford increased 15.8 percent over July of last year (from $285,000 to $330,000). Closed sales increased 3.9 percent (from 793 to 824) while pending sales decreased slightly 0.5 percent (from 815 to 811). The number of days on market decreased 48.8 percent (from 49 to 24 days). New listings decreased 11.7 percent (from 941 to 831) and inventory dropped 32.9 percent (from 1990 to 1336), during this same timeframe.
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Median Sales Price of Single-Family Homes in Greater Hartford Up 22 Percent 

Friday, July 16, 2021
According to the Greater Hartford Association of REALTORS® (GHAR), the median sales price of single-family homes in Greater Hartford increased 21.8 percent over June of last year (from $275,000 to $335,000). Closed sales increased 34.4 percent (from 608 to 817) while pending sales also increased 22.1 percent (from 692 to 845). The number of days on market decreased 51.0 percent (from 49 to 24 days). New listings decreased 0.6 percent (from 954 to 948) and inventory dropped 33.1 percent (from 2042 to 1367), during this same timeframe.
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Closed Sales of Single-Family Homes in Greater Hartford Up 9 Percent 

Wednesday, June 16, 2021
According to the Greater Hartford Association of REALTORS® (GHAR), closed sales of single-family homes in Greater Hartford increased 9.12 percent over May of last year (from 559 to 610). Pending sales increased 32.35 percent (from 575 to 761) and the median sale price increased 16.10 percent (from $264,419 to $307,000). New listings increased 13.26 percent (from 822 to 931) and inventory dropped 31.74 percent (from 1963 to 1340), during this same timeframe.
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Median Sales Price of Single-Family Homes in Greater Hartford Over $300,000 in April 

Monday, May 17, 2021
According to the Greater Hartford Association of REALTORS® (GHAR), the median sales price of single-family homes in Greater Hartford rose 17.90 percent over April of last year (from $257,000 to $303,000). Pending sales increased 20.90 percent (from 555 to 671) and closed sales rose 1.37 percent (from 512 to 519). New listings increased 64.27 percent (from 529 to 869) and inventory dropped 35.84 percent (from 1875 to 1203), during this same timeframe.
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Median Sales Price of Single-Family Homes in Greater Hartford Up 17 Percent 

Thursday, April 15, 2021
According to the Greater Hartford Association of REALTORS® (GHAR), the median sales price of single-family homes in Greater Hartford rose 16.96 percent over March of last year (from $243,675 to $285,000). Pending sales increased 11.46 percent (from 541 to 603) and closed sales remained unchanged at 474 units sold. New listings increased 1.84 percent (from 760 to 774) and inventory dropped 48.59 percent (from 2056 to 1057), during this same timeframe.
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Inventory of Single-Family Homes in Greater Hartford Down 52 Percent 

Wednesday, March 17, 2021
According to the Greater Hartford Association of REALTORS® (GHAR), closed sales of single-family homes in Greater Hartford rose 7.7 percent over February of last year (from 352 to 379). Pending sales decreased 2.23 percent (from 404 to 395) and the median sale price increased 21.74 percent (from $230,000 to $280,000). New listings decreased 32.66 percent (from 689 to 464) and inventory dropped 52.15 percent (from 2004 to 959), during this same timeframe.
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Over 20 Percent Increase in Median Sales Price of Single-Family Homes in Greater Hartford 

Tuesday, February 16, 2021
According to the Greater Hartford Association of REALTORS® (GHAR), the median sale price of single family homes in Greater Hartford increased 20.72 percent (from $236,700 to $285,750), over January of 2020. Closed sales increased 7.69 percent (from 416 to 448). Pending sales increased 5.42 percent (from 424 to 447) and new listings decreased 34.68 percent (from 617 to 403). Inventory dropped 51.69 percent (from 1921 to 928) and days on market decreased 43.42 percent (from 76 to 43 days) during this same timeframe.
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Local REALTOR® Association Installs 2021 President 

Friday, January 22, 2021
The Greater Hartford Association of REALTORS® (GHAR) announces Alexa Kebalo Hughes of eXp Realty, will serve as 2021 President. Kebalo was installed to the position at the GHAR Virtual Installation on January 21, 2021.
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Closed Sales of Single-Family Homes in Greater Hartford Increase over 50 Percent 

Friday, January 15, 2021
According to the Greater Hartford Association of REALTORS® (GHAR), closed sales of single-family homes in Greater Hartford increased 51.21 percent (from 494 to 747) over December of 2019. The median sales price increased 16.63 percent (from $240,000 to $279,900) and pending sales rose 36.32 percent (from 435 to 593). New listings increased 11.66 percent (from 326 to 364) and inventory dropped 46.52 percent (from 1924 to 1029), during this same timeframe.

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