Drop in Closed Sales of Single-Family Homes in Greater Hartford

7.19.2019

Drop in Closed Sales of Single-Family Homes in Greater Hartford

Decrease in inventory

(Download full release in pdf)

(Hartford, Conn., July 19, 2019) – According to the Greater Hartford Association of REALTORS® (GHAR), closed sales of single family homes in greater Hartford decreased 2.18 percent (from 781 to 764) over June of last year. The median sale price decreased 0.74 percent (from $270,000 to $268,000) and pending sales dropped 2.65 percent (from 755 to 735). New listings decreased 3.72 percent (from 1048 to 1009) and inventory dropped 6.01 percent (from 2930 to 2754), during this same year-over-year timeframe.

In year-to-date statistics, when compared to last year, closed sales increased 3.88 percent (from 2964 to 3079) and pending sales increased 4.35 percent (from 3242 to 3383). The median sales price dipped 0.21 percent (from $240,500 to $240,000). New listings decreased 2.37 percent (from 5487 to 5357), year over year.

Condominium closed sales increased 5.62 percent (from 178 to 188) over June of last year. The median sale price increased 11.31 percent (from $163,500 to $182,000) and inventory decreased 17.42 percent (from 729 to 602), over this time last year.

Condominium year-to-date statistics, year over year, show closed sales increased 3.53 percent (from 765 to 792). The median sale price increased 1.56 percent (from $160,000 to $162,500) during this same time frame.

“Tightened inventory could be making an impact on home sales,” said GHAR CEO, Holly Callanan. “For now, prices appear stable but consumers should seek the advice of a Realtor early on to help navigate this market,” she said.

In the national outlook, Lawrence Yun, National Association of REALTORS® chief economist, says that though inventory is up, the months’ supply numbers remain near historic lows, which has a direct effect on price, according to Yun. “Solid demand along with inadequate inventory of affordable homes have pushed the median home price to a new record high,” he said.

 

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


6/18/2019
Closed Sales of Single-Family Homes in Greater Hartford Rise Over 5 Percent
« previous
8/16/2019
Increase in Closed Sales of Single-Family Homes in Greater Hartford
next »