Expert Advice from Amy & Kyle Bergquist at Keller Williams Legacy Partners
Negotiated contracts on single-family homes in March 2011 were down about 24% from the year-previous monthly tally. Wait a minute … that sounds awfully familiar. For the second month in a row the market was only three-quarters as active as last year. Does this establish a trend? Is it cause for concern? Although we may be seeing the beginning of a trend, we don’t think it’s cause for concern. In fact, this looks like a
My crystal ball says that closings in March are going to trail last year by a wide margin. Look for an article citing GHAR’s March stats to appear in the mainstream media early April, and then another one based on the Warren Group’s figures in May. Both will show a decrease in activity. April closings will trail last year by an even larger margin than March! But most people won’t hear about that until the
Through the first two months of the year, buyer interest in condos has been relatively mild. The February data on contracts in Hartford County show that 26% fewer deals came together this February versus last. Overall, there is 8.6 months of supply, which by definition makes it a buyer’s market (6 months of supply is the threshold). Despite the relatively high inventory levels, the supply is not always distributed in the same manner as the
Negotiated contracts on single-family homes in February 2011 were down about 24% from the year-previous monthly tally. We thought the market felt slow, and the numbers definitely support our anecdotal evidence. Activity levels varied widely between towns. Avon came out of the month as the big winner with a sharp increase in contracts. At the other end of the spectrum, Enfield and Southington finished with less than half the market activity of last year. The
We spend a lot of time talking about single-family homes and condominiums, but multi-family properties are another important part of the local housing scene. Where are the the multi-families in Hartford County? As you can see by the number of contracts written on this type of property over the past two years, they are concentrated in just a few towns. Lots in Hartford and New Britain, and a solid number in Bristol, Manchester, and East