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

Closed sales decrease

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(Hartford, Conn., November 18, 2019) – According to the Greater Hartford Association of REALTORS® (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.

In year-to-date statistics, when compared to last year, closed sales increased 2.62 percent (from 5459 to 5602) and pending sales increased 3.11 percent (from 5537 to 5709). The median sales price increased 0.41 percent (from $246,000 to $247,000) and new listings decreased 2.47 percent (from 8921 to 8701), year over year.

Condominium closed sales decreased 9.52 percent (from 147 to 133) over October of last year. New listings rose 8.99 percent (from 178 to 194). Pending sales decreased 19.55 percent (from 179 to 144) and the median sale price increased 4.41 percent (from $170,000 to $177,500). Inventory decreased 7.67 percent (from 600 to 554), over this time last year.

Condominium new listings year-to-date statistics, year over year, show a decrease of 2.84 percent (from 2110 to 2050) and closed sales increased 0.72 percent (from 1386 to 1396). The median sale price increased 1.79 percent (from $162,000 to $164,900) during this same time frame.

“A slowdown in home sales is typical for this time of year,” said GHAR CEO, Holly Callanan. “Even with a slight uptick in prices, current affordability rates are significant,” she said.

In the national outlook, Lawrence Yun, National Association of REALTORS® chief economist, said that despite historically low mortgage rates, sales have not commensurately increased, in part due to a low level of new housing options. “We must continue to beat the drum for more inventory,” said Yun, who has called for additional home construction for over a year.

 

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

Thursday, February 18, 2016
According to the Greater Hartford Association of REALTORSŪ (GHAR), the median sales price of single family homes increased 6.44 percent (from $187,850 to $199,950) over January of last year. Closed sales increased 16.21 percent (from 543 to 631) and pending sales increased 19.74 percent (from 689 to 825). New listings decreased 0.85 percent (from 1288 to 1277) and inventory rose 6.14 percent (from 5426 to 5759). The average number of days on market decreased 8.43 percent (from 83 to 76 days), during this same year-to-year comparison.
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Second Consecutive Month with Rise in Median Sale Price of Single-Family Homes in Greater Hartford 

Wednesday, January 20, 2016
According to the Greater Hartford Association of REALTORSŪ (GHAR), the median sale price of single family homes in greater Hartford increased for the second consecutive month by 3.56 percent (from $202,250 to $209,450) over December of last year. Closed sales rose 15.40 percent (from 818 to 944) and pending sales also rose 19.00 percent (from 600 to 714), respectively. New listings increased 8.26 percent (from 775 to 839) and inventory increased 3.57 percent (from 5627 to 5828). The average number of days on market decreased 14.12 percent (from 85 to 73 days), during this same timeframe.
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Rise in Median Sale Price of Single-Family Homes in Greater Hartford 

Wednesday, December 16, 2015
The median sale price of single family homes in greater Hartford increased by 2.35 percent (from $200,000 to $204,700) over November of last year, according to the Greater Hartford Association of REALTORSŪ (GHAR). Closed sales and pending sales also rose 6.37 percent (from 675 to 718) and 22.47 percent (from 712 to 872), respectively. New listings increased 10.82 percent (from 1026 to 1137) and inventory increased 6.34 percent (from 7681 to 8168). The average number of days on market increased 2.86 percent (from 70 to 72 days), during this same timeframe.
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Pending Sales of Single-Family Homes in Greater Hartford Rise Nearly 20 Percent 

Friday, November 20, 2015
According to the Greater Hartford Association of REALTORSŪ (GHAR), pending sales rose 19.98 percent (from 858 to 977) over October of last year. Closed sales of single-family homes in greater Hartford increased by 17.15 percent (from 876 to 1051). Closed sales rose 14.97 percent (from 875 to 1006) and the median sale price decreased 2.76 percent (from $208,000 to $202,250). New listings decreased 1.61 percent (from 1557 to 1532) and inventory increased 27.28 percent (from 7023 to 8939). The average number of days on market decreased 5.13 percent (from 78 to 74 days), during this same timeframe.
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Over 17 Percent Rise in Closed Sales of Single-Family Homes in Greater Hartford 

Monday, October 19, 2015
Closed sales of single-family homes in greater Hartford increased by 17.15 percent (from 892 to 1045) over September of last year, according to the Greater Hartford Association of REALTORSŪ (GHAR). Pending sales rose 13.87 percent (from 858 to 977) and the median sale price decreased 0.91 percent (from $220,000 to $218,000). New listings increased 1.63 percent (from 1717 to 1745) and inventory increased 3.50 percent (from 7538 to 7802). The average number of days on market increased 10.53 percent (from 76 to 84 days), during this same timeframe.

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