Over 20 Percent Rise in Closed Sales of Single-Family Homes in Greater Hartford

10.18.2019

Over 20 Percent Rise in Closed Sales of Single-Family Homes in Greater Hartford

Median sales price stable

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(Hartford, Conn., October 18, 2019) – According to the Greater Hartford Association of REALTORS® (GHAR), closed sales of single family homes in greater Hartford increased 20.31 percent (from 458 to 551) over September of last year. Pending sales increased 18.22 percent (from 461 to 545) and the median sales price increased 0.44 percent (from $240,950 to $242,000). New listings decreased 3.03 percent (from 857 to 831) and inventory dropped 11.36 percent (from 2940 to 2606), during September when compared to last year.

In year-to-date statistics, when compared to last year, closed sales increased 3.12 percent (from 4897 to 5050) and pending sales increased 4.48 percent (from 4981 to 5204). The median sales price remained unchanged at $247,000 and new listings decreased 2.50 percent (from 8126 to 7923), year over year.

Condominium closed sales decreased 10.14 percent (from 148 to 133) over September of last year. Pending sales increased 17.97 percent (from 128 to 151) and the median sale price increased 7.33 percent (from $150,000 to $161,000). Inventory decreased 15.49 percent (from 665 to 562), over this time last year.

Condominium year-to-date statistics, year over year, show closed sales increased 1.69 percent (from 1239 to 1260). The median sale price increased 1.88 percent (from $160,000 to $163,000) during this same time frame.

“It appears that the recent growth in pending sales has now converted into closed sales,” said GHAR CEO, Holly Callanan. “Stable prices are also a welcome sign for buyers and sellers in this market,” she said.

In the national outlook, Lawrence Yun, National Association of REALTORS® chief economist, attributed the increase in sales to falling mortgage rates. “As expected, buyers are finding it hard to resist the current rates,” he said. “The desire to take advantage of these promising conditions is leading more buyers to the market.”

 

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


9/17/2019
Median Sales Price of Single-Family Homes in Greater Hartford Unchanged
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Increase in Median Sales Price of Single-Family Homes in Greater Hartford
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