HARTFORD: As the summer closed, The Greater Hartford Association of Realtors had good news for prospective home sellers reporting that home sales volumes and prices were both up.
Closed sales of single family homes in greater Hartford increased 2.51% (from 1,274 to 1,306), according and the median sale price increased 7.14% (from $232,950 to $249,580). New listings eked out again as well increasing just under 1% (from 1,699 to 1,713), over July of last year. Inventory of for sales homes however, decreased 3.79% (from 5,492 to 5,284) during this same year-over-year timeframe.
In year-to-date statistics, closed sales decreased 1.85% (from 11,924 to 11,704) and the median sale price increased 4.55% (from $220,000 to $230,000). New listings decreased 1.85% (from 11,924 to 11,704) from the beginning of the year, when compared to last year.
Condominium closed sales decreased 0.39% (from 257 to 256) over July of last year. The median sale price increased 2.56% (from $154,000 to $157,950) and inventory decreased 10.50% (from 1228 to 1099), over July of 2017.
In year-to-date statistics, condominium closed sales decreased 3.20% (from 1595 to 1544) and the median sale price rose 3.71% (from $142,700 to $148,000).
“This is the first uptick in home sales we’ve seen since April,” said GHAR CEO, Holly Callanan. “Tightened inventory could mean multiple bids in this market.”