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Over 7 Percent Increase in Median Sales Price of Single-Family Homes in Greater Hartford

Decrease in closed sales

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(Hartford, Conn., 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.

In year-to-date statistics, year over year, new listings dropped 16.76 percent (from 3150 to 2622). Pending sales increased 4.68 percent (from 1901 to 1990) and closed sales rose 4.23 percent (from 1680 to 1751). The median sales price increased 9.16 percent (from $224,450 to $245,000) and the average days spent on market decreased 9.46 percent (from 74 to 67 days), during this same year to date, year over year, timeframe.

Condominium closed sales decreased 19.70 percent (from 132 to 106) and pending sales decreased 6.47 percent (from 139 to 130) over April of 2019. The median sale price increased 13.15 percent (from $157,750 to $178,500) and inventory decreased 31.33 percent (from 600 to 412). New listings dropped 56.40 percent (from 250 to 109) over this time, versus a year ago.

“Low inventory is possibly due to seller’s caution with the increased cases of Covid-19 in April,” stated GHAR CEO, Holly Callanan. “The slowdown in sales is likely temporary, as sales prices remain strong,” she said.

In the national outlook, Lawrence Yun, National Association of REALTORS® chief economist, said “Unfortunately, we knew home sales would wane in March due to the coronavirus outbreak. More temporary interruptions to home sales should be expected in the next couple of months, though home prices will still likely rise.”

 

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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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 REALTORSŪ (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 REALTORSŪ (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 REALTORSŪ (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 REALTORSŪ (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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Decrease in Closed Sales of Single-
Family Homes in Greater Hartford
 

Tuesday, December 17, 2019
According to the Greater Hartford Association of REALTORSŪ (GHAR), closed sales of single family homes in greater Hartford decreased 16.79 percent (from 536 to 446) over November of last year. Pending sales increased 4.57 percent (from 481 to 503) and the median sales price increased 5.11 percent (from $235,000 to $247,000). New listings decreased 5.71 percent (from 543 to 512) and inventory dropped 10.81 percent (from 2543 to 2268), when compared to last year.
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Increase in Median Sales Price of Single-Family Homes in Greater Hartford 

Monday, November 18, 2019
According to the Greater Hartford Association of REALTORSŪ (GHAR), the median sales price of single family homes in greater Hartford increased 3.13 percent (from $240,000 to $247,500) over October of last year. Closed sales decreased 3.20 percent (from 562 to 544) and pending sales decreased 3.60 percent (from 556 to 536). New listings decreased 2.14 percent (from 795 to 778) and inventory dropped 10.06 percent (from 2823 to 2539), when compared to last year.
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Over 20 Percent Rise in Closed Sales of Single-Family Homes in Greater Hartford 

Friday, October 18, 2019
According to the Greater Hartford Association of REALTORSŪ (GHAR), closed sales of single family homes in greater Hartford increased 20.31 percent (from 458 to 551) over September of last year. Pending sales increased 18.22 percent (from 461 to 545) and the median sales price increased 0.44 percent (from $240,950 to $242,000). New listings decreased 3.03 percent (from 857 to 831) and inventory dropped 11.36 percent (from 2940 to 2606), during September when compared to last year.
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Median Sales Price of Single-Family Homes in Greater Hartford Unchanged 

Tuesday, September 17, 2019
According to the Greater Hartford Association of REALTORSŪ (GHAR), the median sales price of single family homes in greater Hartford remained unchanged over August of last year at $254,900. Closed sales decreased 10.2 percent (from 755 to 678) and pending sales increased 10.4 percent (from 616 to 680). New listings decreased 1.0 percent (from 831 to 823) and inventory dropped 9.1 percent (from 2876 to 2614), during this same month, one year ago.
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Increase in Closed Sales of Single-Family Homes in Greater Hartford 

Friday, August 16, 2019
According to the Greater Hartford Association of REALTORSŪ (GHAR), closed sales of single family homes in greater Hartford increased 0.70 percent (from 713 to 718) over July of last year. The median sale price decreased 4.86 percent (from $278,950 to $265,400) and pending sales increased 2.11 percent (from 663 to 677). New listings decreased 4.73 percent (from 951 to 906) and inventory dropped 8.13 percent (from 2952 to 2712), during this same month, one year ago.

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