West Hartford Real Estate Report- Braeburn & Bugbee Districts

More West Hartford real estate stats sliced and diced. Here are the single family residential stats for the Braeburn and Bugbee elementary school districts. Remember, the data is coming from the MLS, no private sale data is included…

When I’m done posting data for all the districts, I’ll point out my observations. There are some striking stats out there…

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West Hartford Real Estate Report- Aiken School District

I’ve decided to break down the West Hartford statistics by elementary school district. There are 11 schools, so I’ll try to post a couple a day. We’re going in alphabetical order, starting with Aiken.

If you’d like to see the school district map, here you go… wh_elemschlmap.pdf

Keep in mind that these are stats for single family residential houses only, listed in the Multiple Listing Service. No private sale data is included.
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West Hartford Real Estate Report- Single Family Residential

With national real estate reports coming out with mostly doom and gloom, I’ve had many people approach me about the local real estate market. Over the next few weeks, I’ll be posting stats from a variety of markets for both single family residential homes and condominiums. A few disclaimers…

1. All of the data will come from the CT Multiple Listing Service, so private sale data will not be included in my analysis.

2. I’m comparing data from April through September in 2006 to data from April through September in 2007. These months are typically the most active in our local markets.

3. Per the MLS I must state “Statistical information courtesy of the Connecticut Multiple Listing Service, Inc. for the periods described. The information is deemed reliable, but not guaranteed.”

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My takeaways for the overall West Hartford real estate market related to Single Family homes…

1. Prices are up 1% for the second and third quarters when comparing 2006 to 2007.

2. Average days on market are up slightly, but nothing drastic.

3. We have about 3.25 months worth of inventory on the market in West Hartford for single family homes. This is called the absorption rate and is calculated a few different ways. The simplest method is to take the number of Active homes on the market and divide it by the number of properties in Show status and Deposit status. For the West Hartford market, 3 months of inventory is healthy and in-line with the inventory levels of 2006. When inventory levels get too low, prices will usually go up because people are fighting over properties. When inventory levels get too high, prices will usually go down because there are many choices. Your everyday principles of supply and demand…

Note: The chart has been updated with the Median Sales Price and Average Days on Market info requested in the comments. I will include this going forward on all other data posts.