10 Consecutive Months with Rise in Sales


10 Consecutive Months with Rise in Sales of Single-Family Homes
in Greater Hartford

Closed sales up 27 percent over last year

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(West Hartford, Conn., January 17, 2013) – According to the Greater Hartford Association of REALTORS® (GHAR), closed sales of single family homes increased for the 10th consecutive month over last year by 27.24 percent (from 547 to 696) over December of last year. Pending sales rose 14.52 percent (from 489 to 560) and the median sale price decreased 1.17 percent (from $209,900 to $207,450). New listings decreased 12.36 percent (from 736 to 645) and inventory dropped 9.77 percent (from 5456 to 4923). The average number of days on market decreased 6.74 percent (from 89 to 83), during this same one year time-frame.

In year to date statistics, closed sales increased 20.07 percent (from 7255 to 8711) and pending sales also increased 20.63 percent (from 8189 to 9878). New listings increased 1.94 percent (from 15,998 to 16,309) and the median sale price decreased 1.58 percent (from $221,500 to $218,000). The average days a house spent on the market remained unchanged (83 days) from the beginning of 2012.

Condominium sales increased 9.22 percent (from 141 to 154) over December of last year. The median sale price also rose 0.67 percent (from $149,000 to $150,000) and the average days a condo spent on the market decreased 7.94 percent (from 126 to 116 days). Condominium inventory decreased 10.26 percent (from 1510 to 1355), over this time last year.

“Although the closed sales numbers are encouraging, I would feel even better about the housing market recovery when prices stabilize or increase,” stated GHAR President and CEO, Jeff Arakelian.

In the national outlook, Lawrence Yun, National Association of REALTORS® chief economist, said "With lower rental vacancy rates and rising rents, combined with still historically favorable affordability conditions, more people are buying homes. Areas impacted by Hurricane Sandy show storm-related disruptions but overall activity in the Northeast is up, offset by gains in unaffected areas."

The Greater Hartford Association of REALTORS® (GHAR) is the largest local real estate trade association in Connecticut, serving over 3200 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

Over 30 Percent Rise in Sales
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