Closed Sales of Single-Family Homes in Greater Hartford Increase Nearly 5 Percent Over April of Last Year

5.19.2015

Closed Sales of Single-Family Homes in Greater Hartford Increase Nearly 5 Percent Over April of Last Year

Pending sales also rise over 16 percent

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(West Hartford, Conn., May 19, 2015) – According to the Greater Hartford Association of REALTORS® (GHAR), closed sales of single-family homes in greater Hartford increased by 4.93 percent (from 669 to 702) and pending sales rose 16.73 percent (from 1052 to 1228), over April of last year. The median sale price increased 2.44 percent (from $205,000 to $210,000). New listings increased 7.20 percent (from 2195 to 2353) and inventory increased 2.07 percent (from 7102 to 7249). The average number of days on market increased 4.76 percent (from 84 to 88 days), during this same year-over-year timeframe.

In year-to-date statistics, closed sales rose 0.21 percent (from 2383 to 2388) and pending sales increased 11.06 percent (from 3345 to 3715).The median sale price decreased 3.66 percent (from $205,000 to $197,500) and new listings increased slightly 0.03 percent (from 6196 to 6198).

Condominium closed sales increased 0.58 percent (from 171 to 172) over April of last year. The median sale price decreased 6.26 percent (from $150,950 to $141,500) and the average days a condo spent on the market increased 10.53 percent (from 76 to 84 days). Condo inventory increased 0.64 percent (from 1724 to 1735), over this time last year.

In year-to-date statistics, condominium closed sales increased 12.45 percent (from 546 to 614) and the median sale price fell 3.45 percent (from $145,000 to $140,000). The average days on market from the beginning of the year increased 7.06 percent (from 85 to 91 days).

“April’s statistics continue to show positive signs for the greater Hartford market,” stated GHAR CEO, Jeff Arakelian. “New listings and ample inventory gives buyers options to upgrade or downsize.”

In the national outlook, Lawrence Yun, Lawrence Yun, NAR chief economist, says the housing market appears to be off to an encouraging start this spring. "After a quiet start to the year, sales activity picked up greatly throughout the country in March," he said. "The combination of low interest rates and the ongoing stability in the job market is improving buyer confidence and finally releasing some of the sizable pent-up demand that accumulated in recent years."

 

The Greater Hartford Association of REALTORS® (GHAR) is the largest local real estate trade association in Connecticut, serving over 4200 members in the 57 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, klangston@gharonline.com 
Greater Hartford Association of REALTORS® 
t: 860.561.1800  f: 860.561.3573
www.gharonline.com


4/21/2015
Median Sales Price of Single-Family Homes in Greater Hartford Up Nearly 5 Percent Over March of Last Year
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6/17/2015
Fourth Consecutive Month of Increased Closed Sales of Single-Family Homes in Greater Hartford
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