The month of October finished with 643 single-family homes going under contract in Hartford County. The total was a slight increase from the previous month, and a slight decrease from October of 2013.
The real estate markets continue to plug along without much flash or excitement. Inventory levels declined since the September report. At 6.4 months worth of homes available, the markets are very slightly into buyer’s market territory (6+ months of homes available). The decline in inventory seems mostly related to fewer homeowners listing/keeping their home for sale rather than a change in the pace of deal activity.
November is the month in the year when market typically begins to go into its winter slowdown. Casual buyers focus on other activities, and would-be sellers are more aggressive about removing their properties from the market. The holidays, beginning with Thanksgiving, play a big part in these decisions.
A meaningful amount of snow and extended cold spells also slow down activity in a hurry. Fortunately, we have not had to deal with either yet this year. From our point of view as agents, the darkness is also a problem. Basically all after-work showings are in the dark now that we have lost an hour of evening light. Since most buyers work during the day, this forces their home search onto the weekend.
November is also the time of the year when homeowners considering a spring sale begin to prepare their home for the market. Most properties benefit from a proactive approach, whether there are repairs to be done or it’s more a matter of cleaning out and staging.
We are ready, willing, and able to advise on those matters. Don’t be shy about reaching out for help; we can work with you throughout the process. We act as a resource and consultant during the preparations, and then take the lead in developing and executing a marketing strategy. Our ultimate goal is to make sure everything goes smoothly, and to help you get the highest possible value for your home.