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

2.18.2020

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

Median sales price up over 14 percent

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(Hartford, Conn., February 18, 2020) – According to the Greater Hartford Association of REALTORS® (GHAR), closed sales of single family homes in Greater Hartford rose 4.04 percent over January of 2019 (from 396 to 412). Pending sales increased 10.54 percent (from 408 to 451) and the median sale price increased 14.07 percent (from $209,880 to $239,400). New listings increased 2.99 percent (from 603 to 621) and inventory dropped 13.21 percent (from 2105 to 1827), during this same timeframe.

Condominium closed sales increased 14.46 percent (from 83 to 95) over January of last year. The median sale price decreased 1.64 percent (from $152,500 to $150,000) and inventory decreased 14.67 percent (from 484 to 413). New listings rose 8.13 percent (from 160 to 173) over this time versus a year ago.

“The uptick in closed and pending sales is setting us up for a strong start to the year,” stated GHAR CEO, Holly Callanan. “The advice of a Realtor early in the process is the best way to negotiate a market with healthy buyer demand and tight inventory,” she said.

In the national outlook, Lawrence Yun, National Association of REALTORS® chief economist, said home sales fluctuated a great deal last year. “I view 2019 as a neutral year for housing in terms of sales,” Yun said. “Home sellers are positioned well, but prospective buyers aren’t as fortunate. Low inventory remains a problem, with first-time buyers affected the most.”

 

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


1/16/2020
Increase in Median Sales Price of Single-Family Homes in Greater Hartford
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3/20/2020
Continued Increase of Closed Sales of Single-Family Homes in Greater Hartford
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