Hartford County finished the year with 397 single-family deals coming together during the month of December. The total was slightly ahead of December 2012, and a sharp decline from November of this year.
For the full 12 months, the Hartford County market grew by a little over 7% in terms of signed single-family contracts. The result is well behind the 24% growth seen in 2012, yet still a positive step as the region’s housing market continues its recovery.
This is the time of year when the market is in transition. Many buyers and sellers will take the holiday season off from their search, reducing the overall deal count and pushing down the inventory numbers.
It is uncertain when they will begin to emerge for the spring market. Over the past few years we have not had particularly cold or snowy winters, resulting in real estate activity in January. This year we have experienced a legitimate winter, so we would expect that things won’t get too serious until we at least break the cold spell. Perhaps it could take even longer before homeowners are ready to list their properties and the buyer pool begins to fill out.
Hope everyone has a happy New Year … and we’ll be ready to get to work whenever you’re ready to talk real estate.