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Closed Sales of Single-Family Homes in Greater Hartford Rise Over 5 Percent

Increase in median sales price

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(Hartford, Conn., June 18, 2019) – According to the Greater Hartford Association of REALTORS® (GHAR), closed sales of single family homes in greater Hartford increased 5.32 percent (from 601 to 633). The median sale price increased 8.33 percent (from $240,000 to $260,000) and pending sales rose 11.56 percent (from 666 to 743) over May of 2019. New listings increased 1.70 percent (from 1178 to 1198) and inventory dropped 6.88 percent (from 2909 to 2709), during this same year-over-year timeframe.

In year-to-date statistics, when compared to last year, closed sales increased 5.63 percent (from 2183 to 2306) and pending sales increased 7.68 percent (from 2487 to 2678). The median sales price rose 0.86 percent (from $233,000 to $235,000). New listings decreased 2.05 percent (from 4439 to 4348), year over year.

Condominium closed sales increased 13.25 percent (from 151 to 171) over May of last year. The median sale price increased 2.97 percent (from $165,000 to $169,900) and inventory decreased 15.84 percent (from 726 to 611), over this time last year.

Condominium year-to-date statistics, year over year, show closed sales increased 2.90 percent (from 587 to 604). The median sale price decreased 1.41 percent (from $160,000 to $157,750) during this same time frame.

“A rise in sales, even while inventory is relatively low, is a good sign,” said GHAR CEO, Holly Callanan. “It seems that buyers are finding what they need, creating stability in the market,” she said.

In the national outlook, Lawrence Yun, National Association of REALTORS® chief economist, said he is not overly concerned about the 0.4% dip nationally in sales and expects moderate growth very soon. “First, we are seeing historically low mortgage rates combined with a pent-up demand to buy, so buyers will look to take advantage of these conditions,” he said. “Also, job creation is improving, causing wage growth to align with home price growth, which helps affordability and will help spur more home sales.”

 

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

Tuesday, May 17, 2016
According to the Greater Hartford Association of REALTORSŪ (GHAR), the median sales price of single family homes increased 2.86 percent (from $210,000 to $216,000) and closed sales increased 26.19 percent (from 714 to 901) over April of last year. Pending sales increased 16.37 percent (from 1228 to 1429). New listings decreased 11.47 percent (from 2353 to 2083) and inventory dipped 0.98 percent (from 7249 to 7178). The average number of days on market decreased 12.64 percent (from 87 to 76 days), during this same year-over-year comparison.
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Nearly 24 Percent Rise in Closed Sales of Single-Family Homes in Greater Hartford 

Tuesday, April 19, 2016
Closed sales of single family homes increased 23.70 percent (from 654 to 809) over March of last year, according to the Greater Hartford Association of REALTORSŪ (GHAR). Pending sales increased 29.28 percent (from 1004 to 1298) and the median sales price decreased 3.43 percent (from $207,100 to $200,000). New listings increased 31.72 percent (from 1608 to 2118) and inventory rose 7.67 percent (from 6176 to 6650). The average number of days on market decreased 1.20 percent (from 83 to 82 days), during this same year-over-year comparison.
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24 Percent Rise in Closed Sales of Single-Family Homes in Greater Hartford 

Tuesday, March 22, 2016
According to the Greater Hartford Association of REALTORSŪ (GHAR), closed sales of single family homes increased 24.09 percent (from 494 to 613) over February of last year. The median sales price increased 4.12 percent (from $188,250 to $196,000) and pending sales increased 20.28 percent (from 794 to 955). New listings increased 35.19 percent (from 949 to 1283) and inventory rose 10.88 percent (from 5375 to 5960). The average number of days on market decreased 13.95 percent (from 86 to 74 days), during this same year-over-year comparison.

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