Expert Advice from Amy & Kyle Bergquist at Keller Williams Legacy Partners
The Hartford County Condo market has fallen out of sync with the traditional seasonality, creating a good opportunity for buyers with lots to choose from and a more favorable pricing environment to go along with very attractive mortgage rates. The data shows a 13% decrease in the total number of contracts from the second quarter of 2010. However, looking more closely at the individual months, we can see that 2011 showed very steady performance –
June activity in the Hartford County single family market fell slightly from May of this year, but remained much stronger than June of last year. This year’s data shows that May will most likely be the peak of the 2011 spring market. Buyers continued to be out in force through June, though the number of deals has begun to trail off. Our next data milestone will be to see how activity holds up through 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
The number of condominiums that went under contract in Hartford County this January trailed 2010’s total by just over 20%. The drop in activity continues the post tax credit trend from last year. Since this month’s deal count was actually in line with the January 2009 numbers, it appears that the market is simply returning to a more realistic activity level after being goosed by last year’s tax credit. Buyers and sellers successfully negotiated contracts