Hartford County finished March with 911 single-family properties accepting bids. The total was within 1% of the March 2018 total, and on a year-to-date basis the County is about 0.4% ahead of 2018. The first quarter was amazingly similar to last year, which bodes well for the remainder of the year.
An important trend so far this spring was the decline in mortgage interest rates. Buyers were getting loans at about 4.5% at the beginning of the year. Now lenders are offering rates that are closer to 4.0%. It’s a modest difference, but one that buyers appreciate.
Another trend is that inventory levels continue to be on the low side. Right now there are about 2,149 homes available for buyers, representing 2.7 months of inventory. This is less that the 2,271 properties and 2.8 months of inventory at this point in 2018, and the 2,471 properties and 3.0 months of inventory in 2017.
We are entering the most active part of the spring real estate market. This is the time to begin marketing you home if you are interested in selling, and to begin scouting properties if you want to buy a new home. We are happy to help with either – or with both!
Here are the latest stats for individual towns in Hartford County.