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Increase in Closed Sales of Single-Family Homes in Greater Hartford

Median sales price up over 7 percent compared to last year

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(Hartford, Conn., 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 REALTORS® (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.

In year-to-date statistics, closed sales decreased 1.85 percent (from 11,924 to 11,704) and the median sale price increased 4.55 percent (from $220,000 to $230,000). New listings decreased 1.85 percent (from 11,924 to 11,704) from the beginning of the year, when compared to last year.

Condominium closed sales decreased 0.39 percent (from 257 to 256) over July of last year. The median sale price increased 2.56 percent (from $154,000 to $157,950) and inventory decreased 10.50 percent (from 1228 to 1099), over July of 2017.

In year-to-date statistics, condominium closed sales decreased 3.20 percent (from 1595 to 1544) and the median sale price rose 3.71 percent (from $142,700 to $148,000).

“This is the first uptick in home sales we’ve seen since April,” stated GHAR CEO, Holly Callanan. “Tightened inventory could mean multiple bids in this market. Using a Realtor is important for those looking to buy,” she said.

In the national outlook, Lawrence Yun, National Association of REALTORS® chief economist, says closings inched backwards in June and fell on an annual basis for the fourth straight month. “There continues to be a mismatch since the spring between the growing level of homebuyer demand in most of the country in relation to the actual pace of home sales, which are declining,” he said. “The root cause is without a doubt the severe housing shortage that is not releasing its grip on the nation’s housing market. What is for sale in most areas is going under contract very fast and in many cases, has multiple offers. This dynamic is keeping home price growth elevated, pricing out would-be buyers and ultimately slowing sales.”

 

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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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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Increase in Closed Sales of Single-Family Homes in Greater Hartford 

Wednesday, December 20, 2017
According to the Greater Hartford Association of REALTORSŪ (GHAR), closed sales of single family homes in greater Hartford increased 8.17 percent (from 893 to 966) over November of last year. The median sale price decreased 1.83 percent (from $219,000 to $215,000) and new listings rose 1.47 percent (from 1020 to 1035). Inventory decreased 16.62 percent (from 5236 to 4366) and the average number of days on market increased 29.03 percent (from 62 to 80), over November of last year.

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