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Median Sales Price of Single-Family Homes in Greater Hartford Up 17 Percent

Inventory down 49 percent

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(Hartford, Conn., 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.

In year-to-date numbers, over last year, new listings decreased 20.19 percent (from 2065 to 1648). Pending sales increased 4.24 percent (from 1369 to 1427) and closed sales rose 4.99 percent (from 1242 to 1304). The median sales price increased 19.40 percent (from $238,700 to $285,000) and the average days spent on market decreased 37.50 percent (from 72 to 45), during this same year to date, year over year, timeframe.

Condominium closed sales increased 20 percent (from 120 to 144) and pending sales rose 21.80 percent (from 133 to 162) over March of 2020. The median sale price decreased 0.27 percent (from $182,000 to $181,500) and inventory decreased 31.33 percent (from 482 to 331). New listings increased 9.19 percent (from 185 to 202), versus one year ago.

“The rise in sales price still appears to be pushed by low housing inventory in Greater Hartford,” stated GHAR CEO, Holly Callanan. “The spring market is very active despite the inventory challenges,” she said.

In the national outlook, Lawrence Yun, National Association of REALTORS® chief economist, said "Despite the drop in home sales for February – which I would attribute to historically-low inventory – the market is still outperforming pre-pandemic levels.”

He cautioned of a possible slowdown in growth in the coming months as higher prices and rising mortgage rates will cut into home affordability.

 

The Greater Hartford Association of REALTORS® (GHAR) is the largest local real estate trade association in Connecticut, serving over 4000 members in the 27 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
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 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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Closed Sales of Single-Family Homes in Greater Hartford Increase over 44 Percent 

Wednesday, December 16, 2020
According to the Greater Hartford Association of REALTORS® (GHAR), closed sales of single-family homes in Greater Hartford increased 44.10 percent (from 449 to 647) over November of 2019. The median sales price increased 12.24 percent (from $245,000 to $275,000) and pending sales rose 43.01 percent (from 479 to 685). New listings increased 1.56 percent (from 512 to 520) and inventory dropped 40.18 percent (from 2357 to 1410), during this same timeframe.
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Over 35 Percent Increase in Closed Sales of Single-Family Homes in Greater Hartford 

Tuesday, November 24, 2020
According to the Greater Hartford Association of REALTORS® (GHAR), closed sales of single-family homes in Greater Hartford increased 36.31 percent (from 548 to 747) over October of last year. The median sales price increased 13.33 percent (from $247,500 to $280,500) and pending sales rose 49.90 percent (from 509 to 763). New listings increased 4.66 percent (from 772 to 808) and inventory dropped 35.56 percent (from 2610 to 1682), during this same timeframe.
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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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