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Over 20 Percent Increase in Median Sales Price of Single-Family Homes in Greater Hartford

Closed sales up over 27 percent

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(Hartford, Conn., October 15, 2020) – According to the Greater Hartford Association of REALTORS® (GHAR), the median sales price of single-family homes in Greater Hartford increased 20.50 percent (from $241,900 to $291,500) over September of last year. Closed sales increased 27.44 percent (from 554 to 706) and pending sales rose 28.68 percent (from 516 to 664). New listings decreased 27.80 percent (from 820 to 592) and inventory dropped 56.14 percent (from 2663 to 1168), during this same timeframe.

In year-to-date statistics, year over year, new listings decreased 20.26 percent (from 7849 to 6259). Pending sales increased 6.57 percent (from 5097 to 5432) and closed sales increased 4.63 percent (from 5032 to 5265). The median sales price increased 9.35 percent (from $246,000 to $269,000) and the average days spent on market decreased 8.62 percent (from 58 to 53 days), during this same year to date, year over year, timeframe.

Condominium closed sales increased 29.93 percent (from 137 to 178) and pending sales increased 21.92 percent (from 146 to 178) over September of 2019. Median sales price increased 9.47 percent (from $161,000 to $176,250) and inventory decreased 38.80 percent (from 567 to 347).

“A fifty percent drop in inventory is significant and will likely continue to drive up prices,” said GHAR CEO, Holly Callanan. “The high level of closed and pending sales shows that buyers are extremely motivated, so multiple offers and bidding wars are likely. Seeking the advice of a Realtor is key in this market,” she said.

In the national outlook, Lawrence Yun, National Association of REALTORS® chief economist, stated: "Home sales continue to amaze, and there are plenty of buyers in the pipeline ready to enter the market. Further gains in sales are likely for the remainder of the year, with mortgage rates hovering around 3% and with continued job recovery."

 

The Greater Hartford Association of REALTORS® (GHAR) is the largest local real estate trade association in Connecticut, serving over 4700 members in the 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
Greater Hartford Association of REALTORS®
t: 860.561.1800  f: 860.561.3573
www.gharonline.com

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Over 20 Percent Increase in Median Sales Price of Single-Family Homes in Greater Hartford 

Thursday, October 15, 2020
According to the Greater Hartford Association of REALTORS® (GHAR), the median sales price of single-family homes in Greater Hartford increased 20.50 percent (from $241,900 to $291,500) over September of last year. Closed sales increased 27.44 percent (from 554 to 706) and pending sales rose 28.68 percent (from 516 to 664). New listings decreased 27.80 percent (from 820 to 592) and inventory dropped 56.14 percent (from 2663 to 1168), during this same timeframe.
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Increase in Closed Sales of Single-Family Homes in Greater Hartford 

Tuesday, September 22, 2020
According to the Greater Hartford Association of REALTORS® (GHAR), closed sales of single-family homes in Greater Hartford increased 23.63 percent over August of last year (from 673 to 832). The median sales price increased 14.17 percent (from $254,000 to $290,000) and pending sales rose 29.26 percent (from 639 to 826). New listings increased 1.10 percent (from 817 to 826) and inventory dropped 34.16 percent (from 2693 to 1773), during this same timeframe.
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Increase in Closed Sales of Single-Family Homes in Greater Hartford 

Monday, August 17, 2020
According to the Greater Hartford Association of REALTORS® (GHAR), closed sales of single-family homes in Greater Hartford increased 7.59 percent over July of last year (from 725 to 780). The median sales price increased 7.55 percent (from $265,000 to $285,000) and pending sales rose 31.52 percent (from 644 to 847). New listings increased 4.30 percent (from 906 to 945) and inventory dropped 31.64 percent (from 2791 to 1908), during this same timeframe.
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Increase in Median Sales Price of Single-Family Homes in Greater Hartford 

Thursday, July 16, 2020
According to the Greater Hartford Association of REALTORS® (GHAR), the median sales price of single-family homes in Greater Hartford increased 2.82 percent over June of last year (from $267,450 to $275,000). Closed sales dropped 21.82 percent (from 770 to 602) and pending sales rose 2.12 percent (from 707 to 722). New listings decreased 5.64 percent (from 1011 to 954) and inventory dropped 30.29 percent (from 2846 to 1984), during this same timeframe.
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Closed Sales of Single-Family Homes in Greater Hartford Down 12 Percent 

Tuesday, June 16, 2020
According to the Greater Hartford Association of REALTORS® (GHAR), closed sales of single-family homes in Greater Hartford decreased 12.75 percent over May of last year (from 643 to 561). Pending sales decreased 15.45 percent (from 712 to 602) and the median sale price increased 1.92 percent (from $260,000 to $265,000). New listings decreased 31.22 percent (from 1198 to 824) and inventory dropped 31.91 percent (from 2795 to 1903), during this same timeframe.
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Over 7 Percent Increase in Median Sales Price of Single-Family Homes in Greater Hartford 

Monday, May 18, 2020
According to the Greater Hartford Association of REALTORS® (GHAR), closed sales of single-family homes in Greater Hartford decreased 2.70 percent over April of last year (from 518 to 504). Pending sales decreased 6.94 percent (from 620 to 577) and the median sale price increased 7.29 percent (from $240,000 to $257,500). New listings decreased 48.41 percent (from 1041 to 537) and inventory dropped 29.86 percent (from 2522 to 1769), during this same timeframe.
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Closed Sales of Single-Family Homes in Greater Hartford Increase Over 10 Percent 

Thursday, April 16, 2020
According to the Greater Hartford Association of REALTORS® (GHAR), closed sales of single-family homes in Greater Hartford rose 10.19 percent over March of last year (from 432 to 476). Pending sales increased 15.8 percent (from 501 to 580) and the median sale price increased 3.8 percent (from $235,500 to $244,450). New listings decreased 17.35 percent (from 922 to 762) and inventory dropped 17.60 percent (from 2329 to 1919), during this same timeframe.
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Continued Increase of Closed Sales of Single-Family Homes in Greater Hartford 

Friday, March 20, 2020
According to the Greater Hartford Association of REALTORS® (GHAR), closed sales of single-family homes in Greater Hartford rose 3.59 percent over February of last year (from 334 to 346). Pending sales increased 19.09 percent (from 372 to 443) and the median sale price increased 15.75 percent (from $200,000 to $231,500). New listings increased 18.32 percent (from 584 to 691) and inventory dropped 10.73 percent (from 2134 to 1905), during this same timeframe.
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Increase of Closed Sales of Single-Family Homes in Greater Hartford 

Tuesday, February 18, 2020
According to the Greater Hartford Association of REALTORS® (GHAR), closed sales of single family homes in Greater Hartford rose 4.04 percent over January of 2019 (from 396 to 412). Pending sales increased 10.54 percent (from 408 to 451) and the median sale price increased 14.07 percent (from $209,880 to $239,400). New listings increased 2.99 percent (from 603 to 621) and inventory dropped 13.21 percent (from 2105 to 1827), during this same timeframe.
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Increase in Median Sales Price of Single-Family Homes in Greater Hartford 

Thursday, January 16, 2020
According to the Greater Hartford Association of REALTORS® (GHAR), the median sales price of single family homes in greater Hartford increased 6.67 percent (from $225,000 to $240,000) over December of last year. Closed sales decreased 0.41 percent (from 487 to 485) and pending sales increased 6.29 percent (from 429 to 456). New listings decreased 9.37 percent (from 363 to 329) and inventory dropped 15.01 percent (from 2139 to 1818), when compared to last year.

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