Median Sales Price of Single-Family Homes in Greater Hartford Over $300,000 in April

5.17.2021

Median Sales Price of Single-Family Homes in Greater Hartford Over $300,000 in April

Pending sales up over 20 percent

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(Hartford, Conn., May 17, 2021) – According to the Greater Hartford Association of REALTORS® (GHAR), the median sales price of single-family homes in Greater Hartford rose 17.90 percent over April of last year (from $257,000 to $303,000). Pending sales increased 20.90 percent (from 555 to 671) and closed sales rose 1.37 percent (from 512 to 519). New listings increased 64.27 percent (from 529 to 869) and inventory dropped 35.84 percent (from 1875 to 1203), during this same timeframe.

From the beginning of 2021 until April, when compared to April of last year, new listings decreased 2.81 percent (from 2594 to 2521). Pending sales increased 7.69 percent (from 1924 to 2074) and closed sales rose 3.53 percent (from 1754 to 1816). The median sales price increased 18.33 percent (from $245,000 to $289,900) and the average days spent on market decreased 35.82 percent (from 67 to 43), during this same year to date, year over year, timeframe.

Condominium closed sales increased 71.03 percent (from 107 to 183) and pending sales rose 77.78 percent (from 126 to 224) over April of 2020. The median sale price increased 4.75 percent (from $179,000 to $187,500) and inventory decreased 23.49 percent (from 430 to 329). New listings increased 114.68 percent (from 109 to 234), versus one year ago.

“The motivated buyer trend continues to create multiple offer situations, resulting in rising prices,” stated GHAR CEO, Holly Callanan. “It’s important to rely on the knowledge of a Realtor in this challenging market,” she said.

In the national outlook, Lawrence Yun, National Association of REALTORS® chief economist, said "Consumers are facing much higher home prices, rising mortgage rates, and falling affordability, however, buyers are still actively in the market."

Yun said although mortgage rates have risen a tick, they are still at a favorable level and the economic outlook is promising.

 

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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Median Sales Price of Single-Family Homes in Greater Hartford Up 17 Percent
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6/16/2021
Closed Sales of Single-Family Homes in Greater Hartford Up 9 Percent
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