Most importantly today, please go vote. You have until 8:00PM to get to your local polling place. So get a move on if you haven’t already… Now, back to real estate topics. If you saw the lead article in the Hartford Courant today, you might think the sky is starting to fall on the local real estate market. This September was a slow month historically for sales and it’s going to take several months to
My favorite mantra in residential real estate is “the market is local.” You can read all of the national news reports you want about how foreclosures are overwhelming Ohio and Michigan and how housing prices are dropping faster than Britney’s fan base. But if you live in an economy like Connecticut with a stable job market and reasonably paced home construction, you shouldn’t expect the sky to fall on the housing market. And after doing
I love data! More real estate statistics, this time for the Farmington Valley. All data is from the MLS for single family residential sales… Tomorrow I’ll give a summary of how the market is doing West of the River. It’s really not that bad, surprisingly positive in fact.
Continuing on with real estate statistics for local areas, here are the most recent stats for Hartford’s West End… All of the data is pulled from the Multiple Listing Service and “while deemed reliable, is not guaranteed.” This includes public, MLS transactions only, no private sale data is included. My observations: 1. The median sales price is down 8% when comparing 2007 to 2006. 2. Homes are selling, on average, approximately 3 weeks faster when
Sorry for the delay with my observations regarding the West Hartford real estate statistics, business exploded over the past few days. That’s a good thing! After comparing the single family residential sale statistics for the second and third quarters of 2006 to 2007, there are some interesting notes, particularly after breaking it down by school district. Overall, the town of West Hartford has seen a 1.5% increase in MEDIAN sales prices (only in single family