WH Real Estate News: Feb 2017

The West Hartford real estate market performed well through the first two months of the year. The number of closed sales totaled 90, which was about 9% more than 2016’s total through February. It was strongest start to the year since 2007, which also had 90 deals in the first two months.

West Hartford Month February 2017

The Transactions by Price chart shows that over the past 12 months most of the increase in sales activity was between $200,000 and $499,999. These homes represent the core housing stock in town, and they drove median prices up about 3% in 2016.

West Hartford Price February 2017

You’ll notice that there was about a 17% decline in the number sales that closed in the $100,000s. The decline reflects a strengthening price environment at the low end of the market. Homes that in previous years were selling below $200,000 are now worth more, and many are selling in the next highest price band.

West Hartford Active February 2017

The Active Listings chart shows how many options buyers have in each of the price bands. However, the more interesting information is the ratio of the available listings to the number of sales over the past 12 months.

Consider the 44 active listings shown for the $200,000s, which is the highest count of all the price bands. Because that price band is so active, with 265 sales over the past 12 months, that only represents enough available listings for 2 months of sales. We refer to that price band as having 2 months of inventory. The $200,000s, and all the other price bands below $500,000, are markets that favor sellers. Properties that are in good shape, and that are marketed well, have an opportunity to generate considerable interest.

Inventory levels increase as the price point increases, but that doesn’t mean sellers are out of luck. West Hartford homes that are priced appropriately tend to sell. That’s one of the nice things about the town’s real estate market.

Although we like to let the data inform our opinions about the market, we also pay close attention to the day-to-day in town. We’re seeing bidding wars on nicer properties on a regular basis. The market is currently limited by the relatively few homes available in the lower and middle price points. We are expecting a strong spring real estate market in West Hartford.

Amy & Kyle Bergquist are residential real estate agents based in West Hartford Center. Reach out to us at any time for a free consultation – we would love to help you buy or sell a home!

174 West Ridge Drive, West Hartford

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This nicely updated split level is located at the end of a quiet cul de sac, in the Norfeldt/KP/Hall district.

Inside, you’ll appreciate the fresh paint and refinished hardwood floors throughout. An open floor plan on the main level connects the living room and dining room. Adjacent to each is the fully updated kitchen with new cabinets, granite counters, stainless steel appliances, tile backsplash and flooring, as well as an eat-in space. Walk out to the newly added deck through a slider in the dining room. This is perfect additional space for entertaining.

Upstairs, you’ll find three nicely sized bedrooms. Both the master bathroom and hallway bathroom have been completely remodeled.

Downstairs, there is a family room space with an updated powder room. You’ll also find laundry, access to the attached 2-car garage and a slider out to the backyard space on this level.

The outside provides both the deck and a paver patio, as well as a sunny, level yard. Enjoy central air conditioning, a newer high efficiency gas furnace and hot water heater, new roof, and vinyl siding. There is nothing to do but move in and take advantage of all that West Hartford offers.

174 West Ridge Drive is offered at $329,000. If you’d like to see this home, please have your agent arrange a showing, or call me at 860-655-2125 to schedule a visit. More details and a photo tour are available.

69 Foley Street, West Hartford

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You’ll find a great owner occupant or investor opportunity with this West Hartford two family home. Many updates have already been done for you.

The first floor unit features a formal living room and dining room with a heated sun porch. The kitchen is updated and has a pantry for additional storage space. There are two bedrooms and a full bathroom.

The second floor unit has a similar layout except that the wall between the living room and dining room has been opened to create one large space. It also has a heated sun porch, kitchen with pantry, two bedrooms and a full bathroom.

Both units have hardwood floors. The basement has separate laundry hook ups for both units, as well as separate gas mechanicals for each unit. The exterior of the home has a newer roof, vinyl siding and replacement windows. There is parking space for three cars.

Conveniently located close to shopping, highways, CT Fastrak, and the local elementary school.

69 Foley Street is offered at $299,000. If you’d like to see this home, please have your agent arrange a showing, or call me at 860-655-2125 to schedule a visit. More details are available.

25 Outlook Ave, West Hartford

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Don’t miss this fantastic opportunity to own a nicely updated 2-family, perfect for an owner occupant or investor, and so close to the Center and Blue Back Square.

Lovely 1920’s charm throughout both light and bright units, each freshly painted with refinished hardwood floors. Both units have a similar layout with front porch, living room with fireplace and built-in book shelves, formal dining room, kitchen with pantry, three bedrooms and a full bathroom. The kitchens have been updated with new cabinets, stainless steel appliances (including dishwashers and microwaves), counters and sinks. Bathrooms have also been remodeled with neat and clean finishes.

The third floor is currently a walk up attic space which is floored. It has excellent potential and could easily be finished to increase the size of the second floor unit.

Laundry is located on-site in the basement. There are individual gas mechanicals for each unit. The property features new windows and exterior doors, and a freshly painted stucco exterior with new vinyl shake siding on the front porches. A two car detached garage (with garage door openers) and recently paved driveway provides plenty of parking space. A strong rental history makes this a great prospect.

25 Outlook Avenue is offered at $449,000. If you’d like to see this home, please have your agent arrange a showing, visit our open house on Sunday October 23rd from 1-3pm, or call me at 860-655-2125 to schedule a visit. More details and a photo tour are available.

29 Greensview Dr, West Hartford

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Many updates make for easy living in this charming colonial, located in the Duffy elementary district.

The traditional floor plan offers an entry foyer opening to the formal living room with fireplace, leading to a dining room with built-in hutch. The kitchen has been refreshed and provides eat-in space. Off the kitchen is a dedicated mudroom. This leads to the attached 1-car garage and first floor powder room. The space is plumbed for first floor laundry, or you can use the area for a larger mudroom, if you wish.

Upstairs you will find 3 nicely sized bedrooms and a full bathroom.

The basement is partially finished (unheated), currently used as a family room. It also houses the laundry room, mechanicals and built-in shelving to organize your stored items.

Outside, an enclosed 3-season porch leads to the level, sunny, fenced backyard. There is green space to play and garden, as well as a new paver patio where you can entertain and relax.

The home offers new central air, vinyl siding, windows, refinished hardwood floors and fresh paint. There is a gas furnace and new gas hot water heater. The chimney was recently rebuilt and lined and the roof is 7 years old. Conveniently located, it’s a quick trip to the Corbin’s Corner shops and restaurants, Rockledge Golf Course and highway access. There’s nothing to do but move in and enjoy!

29 Greensview Drive is offered at $295,000. If you’d like to see this home, please have your agent arrange a showing, visit our open house on Sunday October 16th from 1-3pm, or call me at 860-655-2125 to schedule a visit. More details and a photo tour are available.