Over 30 Percent Rise in Sales

12.17.2012

Over 30 Percent Rise in Sales of Single-Family Homes in Greater Hartford

Median Sale Price Up Nearly 4 Percent

(West Hartford, Conn., December 17, 2012)
– According to the Greater Hartford Association of REALTORS® (GHAR), closed sales of single family homes rose 30.21 percent (from 609 to 793) over November of last year. Pending sales increased 42.92 percent (from 438 to 626) and the median sale price also increased 3.86 percent (from $207,000 to $215,000). New listings increased 1.23 percent (from 896 to 907) and inventory dropped 7.96 percent (from 5893 to 5424). The average number of days on market decreased 8.79 percent (from 91 to 83), during this same one year time-frame.

In year to date statistics, closed sales increased 18.90 percent (from 6734 to 8007) and pending sales also increased 13.75 percent (from 7700 to 8759). New listings increased 2.63 percent (from 15,262 to 15,664) and the median sale price decreased 1.57 percent (from $222,000 to $219,000). The average days a house spent on the market increased 1.22 percent (from 82 to 83 days) from the beginning of 2012.

Condominium sales in November increased 42.03 percent (from 138 to 196) over last year. The median sale price also rose
3.17 percent (from $154,500 to $159,400) and the average days a condo spent on the market increased 10.00 percent (from 110 to 121 days). Condominium inventory decreased 10.24 percent (from 1660 to 1490), over this time last year.

“Another rise in closed sales shows that the market continues to recover,” GHAR President and CEO, Jeff Arakelian, stated. “To
get the best home buying and selling advice in this market, the consumer should contact a REALTOR®,” he continued.

 In the national outlook, Lawrence Yun, National Association of REALTORS® chief economist, said buyers are responding to favorable market conditions. "We've had very good housing affordability conditions for quite some time, but we're seeing more impact now from steady job creation, and rising consumer confidence about home buying now that home prices have
clearly turned positive."


11/20/2012
Median Sales Price of Single-Family Homes in Greater Hartford Rises
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