$238 Million for One Condo in NYC

2016-07-02 NYC Skyline 8615-1920

A finance guy paid $238 million for a large apartment at the top of a building overlooking Central Park.

The CTMLS says that the total cost of the 687 residential properties (single-units, multi-units, and condos) that sold in Hartford in all of 2018 was $109.3 million. This comes out to about $159,153 per property.

West Hartford, which has the most active residential market in this area and strong prices, was able to top that one deal in 2018. The 947 residential deals totaled $311.8 million in total value, which is $329,201 per property.

My mind wanders in many directions when contemplating these data points, but there is one overriding conclusion…

Housing in Greater Hartford is affordable, allowing normal people with regular jobs to pursue ownership opportunities. This is an important advantage we have over NYC and other expensive cities.

2018 Condo Sales: Steady Market

2019-01-21 Hartford County Condo Sales

Hartford County condominiums maintained their pace of sales in 2018. The deal count increased by 2 properties from 2017 to finish with a total of 2,204 sales.

2019-01-21 Hartford County Condo Prices

The median condo sales price increased by 2% from the previous year, reaching $153,000. The positive direction was the first meaningful step upwards for the median price in a decade.

One of the reasons for the long-term downward trend in the median price is that developers have sold fewer “New Construction” condos in the current decade. The chart below shows that there was a wave of new properties built in the previous decade. Those new units, which represented more than 15% of the total number of deals in 2006, played an important role in pushing up the median price.

2019-01-21 Hartford County New Construction Condo Sales

The uptick in median price, and the level deal count, resulted in a reasonably steady distribution of sales by price band.

2019-01-21 Hartford County Condo Sales by Price Band

Finally, here is the breakdown of the number of deals and median prices by town. Condominiums are distributed throughout the County, so a number of towns have active condo markets.

2019-01-21 Hartford County Condominium Sales in 2018 by Town

Don’t hesitate to ask us your condominium questions. We’re experienced agents who are active the local condo market. How can we help you?

3 Burr Street, Unit A-2, West Hartford

3 Burr Street, West Hartford Center

Come see this nicely updated one bedroom, one bathroom end unit condo located in the heart of West Hartford Center and Blue Back Square.

The eat-in kitchen is renovated and features tile flooring and backsplash, stainless steel appliances, and plenty of storage space. A living room with electric fireplace opens to the kitchen. The bedroom has double closets and a fully remodeled bathroom.

The condo also comes with laundry in the unit, a reserved parking spot, low condo fees ($276/month), and plenty of guest parking.

Supremely convenient to restaurants, retail and grocery shopping, a movie theater, the Town library, highway access, and public transportation- the location can’t be beat.

3 Burr Street, Unit A-2 is offered at $155,000. If you’d like to see this home, please have your agent arrange a showing or call Amy at 860-655-2125 to schedule a visit. More details and a photo tour are available.

16 Charter Oak Place, Unit D, Hartford

16 Charter Oak Place, Hartford

Enjoy pretty City views from this end unit town house condo, located on quiet, historic Charter Oak Place.

Inside this lovely Victorian building you’ll find the unit’s main living area is a wide open plan, allowing for natural light and flow throughout. The eat-in kitchen overlooks the formal living room. The living room features a working wood burning fireplace, as well as access to a balcony, offering beautiful views of the City and beyond. A powder room is tucked away near the front entrance. There is oak hardwood flooring throughout this level.

Upstairs, the vaulted ceiling provides great light and amplitude. This level features two bedrooms, both with generous closets, a full bathroom, and laundry area.

The condo also features thermopane windows, gas heat, central air, basement storage space, low monthly HOA fees ($150), and one parking spot behind the building.

16 Charter Oak Place, Unit D is offered at $154,900. If you’d like to see this home, please have your agent arrange a showing or call Amy at 860-655-2125 to schedule a visit. More details and a photo tour are available.

31 Woodland Street #2I, Hartford

31 Woodland, Hartford

Enjoy a bright and open living area with hardwood floors and neutral paint in this spacious unit at the Woodland House. The oversized bedroom is next to the full bathroom and has access to multiple closets. There is very little wasted space in this well-designed unit.

The monthly HOA fee includes heat, hot water, electricity, central air, cable TV, 24-hour security, the amazing swimming pool, the well-equipped fitness room, and the very large lounge and game room.

The community offers indoor or outdoor parking, depending on your needs, that is arranged through the association for an additional fee.

This property is a great value for a turnkey home – just move in and enjoy!

31 Woodland #2I is offered at $67,900. If you’d like to see this home, please have your agent arrange a showing or call Kyle at 860-655-2922 to schedule a visit. More details are available.