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Median Sales Price of Single-Family Homes in Greater Hartford Unchanged

Decrease in closed sales

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(Hartford, Conn., September 17, 2019) – According to the Greater Hartford Association of REALTORS® (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.

In year-to-date statistics, when compared to last year, closed sales increased 1.3 percent (from 4439 to 4495) and pending sales increased 3.6 percent (from 4520 to 4682). The median sales price increased 0.4 percent (from $248,000 to $248,888). New listings decreased 2.4 percent (from 7269 to 7091), year over year.

Condominium closed sales decreased 5.7 percent (from 174 to 164) over August of last year. Pending sales increased 7.6 percent (from 144 to 155) and the median sale price decreased 3.0 percent (from $165,000 to $160,000). Inventory decreased 12.0 percent (from 676 to 595), over this time last year.

Condominium year-to-date statistics, year over year, show closed sales increased 3.2 percent (from 1091 to 1126). The median sale price increased 0.6 percent (from $162,000 to $163,000) during this same time frame.

“The drop in closed sales is countered by the rise in pending, which should make for an interesting fall market,” said GHAR CEO, Holly Callanan. “Never hesitate to consult with a REALTOR to make sure you are getting the best and most accurate advice,” she said.

In the national outlook, Lawrence Yun, National Association of REALTORS® chief economist, says “falling mortgage rates are improving housing affordability and nudging buyers into the market.” However, he added that the supply of affordable housing is severely low. “The shortage of lower-priced homes have markedly pushed up home prices.”

 

The Greater Hartford Association of REALTORS® (GHAR) is the largest local real estate trade association in Connecticut, serving over 4000 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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Median Sales Price of Single-Family Homes in Greater Hartford Drops 

Thursday, March 16, 2017
According to the Greater Hartford Association of REALTORSŪ (GHAR), the median sales price of single family homes decreased 2.55 percent (from $196,000 to $191,000) over February of last year. Closed sales decreased 7.50 percent (from 613 to 567) and pending sales decreased 5.45 percent (from 955 to 903). New listings dropped 8.18 percent (from 1283 to 1178) and inventory decreased 18.93 percent (from 5960 to 4832). The average number of days on market remained unchanged at 75 days during this same year-over-year comparison.
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Rise in Closed Sales of Single-Family Homes and Condominiums in Greater Hartford 

Friday, February 17, 2017
Closed sales of single family homes in greater Hartford increased 23.14 percent (from 631 to 777) over January of 2016, the largest jump in closed sales since April of 2016, according to the Greater Hartford Association of REALTORSŪ (GHAR). The median sale price dropped 1.48 percent (from $199,950 to $197,000) and pending sales increased 4.00 percent (from 825 to 858). New listings decreased 3.37 percent (from 1277 to 1234) and inventory dropped 21.06 percent (from 5759 to 4546). The average number of days on market decreased 3.95 percent (from 76 to 73 days), during this same timeframe.
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Rise in Median Sale Price of Single-Family Homes in Greater Hartford 

Wednesday, January 18, 2017
According to the Greater Hartford Association of REALTORSŪ (GHAR), the median sale price of single family homes in greater Hartford increased by 2.65 percent (from $209,450 to $215,000) over December of last year. Closed sales rose 0.11 percent (from 944 to 945) and pending sales increased 4.06 percent (from 714 to 743), respectively. New listings decreased 4.29 percent (from 839 to 803) and inventory decreased 17.40 percent (from 5828 to 4814). The average number of days on market decreased 5.48 percent (from 73 to 69 days), during this same timeframe.
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Closed sales rise over 20 percent 

Friday, December 16, 2016
Closed Sales of Single-Family Homes in Greater Hartford Rise Over 20 Percent
Median sale price up over 4 percent
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Sales Price of Single-Family Homes in Greater Hartford Continues to Rise 

Wednesday, November 16, 2016
According to the Greater Hartford Association of REALTORSŪ (GHAR), the median sales price of single family homes rose for the seventh consecutive month in year to year comparisons. The price rose 6.18 percent (from $202,250 to $214,750) over October of last year. Closed sales decreased 4.97 percent (from 1006 to 956) and pending sales increased 1.43 percent (from 1051 to 1066). New listings decreased 11.49 percent (from 1532 to 1356) and inventory dropped 30.38 percent (from 8939 to 6223). The average number of days on market decreased 17.57 percent (from 74 to 61 days), during this same timeframe.
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Sales Price of Single-Family Homes in Greater Hartford up over 5 Percent 

Wednesday, October 19, 2016
According to the Greater Hartford Association of REALTORSŪ (GHAR), the median sales price of single family homes rose 5.53 percent (from $217,000 to $229,000) over September of last year. Closed sales increased 0.94 percent (from 1066 to 1076) and pending sales increased 6.65 percent (from 977 to 1042). New listings decreased 9.80 percent (from 1745 to 1574) and inventory dropped 14.50 percent (from 7802 to 6671). The average number of days on market decreased 3.08 percent (from 65 to 63 days), during this same year-over-year comparison.
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Closed Sales of Single-Family Homes in Greater Hartford Rise over 5 Percent 

Friday, September 16, 2016
Closed sales of single family homes increased 5.72 percent (from 1171 to 1238) over August of last year, according to the Greater Hartford Association of REALTORSŪ (GHAR). The median sales price rose 10.09 percent (from $218,000 to $240,000) and pending sales increased 6.32 percent (from 1108 to 1178). New listings decreased 10.55 percent (from 1696 to 1517) and inventory dropped 14.68 percent (from 7726 to 6592). The average number of days on market decreased 6.45 percent (from 62 to 58 days), during this same year-over-year comparison.
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Sales Price of Single-Family Homes in Greater Hartford Continues to Rise 

Wednesday, August 17, 2016
According to the Greater Hartford Association of REALTORSŪ (GHAR), the median sale price of single family homes increased 6.80 percent (from $220,000 to $234,950) over July of last year. Closed sales decreased 5.09 percent (from 1296 to 1230) and pending sales decreased 1.56 percent (from 1215 to 1196). New listings decreased 14.96 percent (from 1954 to 1667) and inventory dropped 13.93 percent (from 7996 to 6882). The average number of days on market decreased 8.33 percent (from 60 to 55 days), during this same year-over-year comparison.
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Third Consecutive Month of Increased Sales Price of Single-Family Homes in Greater Hartford 

Tuesday, July 19, 2016
The median sale price of single family homes increased 4.04 percent (from $229,950 to $239,250) over June of last year, according to the Greater Hartford Association of REALTORSŪ (GHAR). Closed sales increased 14.38 percent (from 1196 to 1368) and pending sales increased 0.66 percent (from 1361 to 1370). New listings decreased 11.34 percent (from 2293 to 2033) and inventory dropped 11.24 percent (from 8060 to 7154). The average number of days on market decreased 6.35 percent (from 63 to 59 days), during this same year-over-year comparison.
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Over 20 Percent Rise in Closed Sales of Single-Family Homes in Greater Hartford 

Friday, June 17, 2016
According to the Greater Hartford Association of REALTORSŪ (GHAR), closed sales increased 21.22 percent (from 900 to 1091) over May of last year. Pending sales increased 9.32 percent (from 1309 to 1431) and the median sales price of single family homes increased 3.49 percent (from $215,000 to $222,500). New listings decreased 14.75 percent (from 2570 to 2191) and inventory dipped 8.03 percent (from 7907 to 7272). The average number of days on market decreased 14.29 percent (from 77 to 66 days), during this same year-over-year comparison.

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