July Contracts: Defining the Spring Market Peak

2014-08-05 Hartford County Single Family Contracts in July 2014

There were 696 single-family contracts in July 2014, showing a significant drop in market activity from June of this year. The total was about 9% below the contract count for July of 2013.

Summer months can be hit or miss, and on the whole this was a down month for the County. Our informal view was that the market felt active in July, which probably just means that the towns and price ranges that we typically work in were impacted differently than the overall County market.

The number of listings available for sale, and the total inventory, continues to inch upwards. At the pace of contracts over the past year it would take about 6.7 months for all 4,372 active listings in the County to sell. Both of those numbers grew since the June report a month ago.

Looking ahead, August is traditionally more about vacations and back-to-school preparations than about real estate, making it a difficult data point to interpret. Historically there are almost always fewer deals in August than July, so the question is more about the magnitude of the drop than whether there is a drop.

Enjoy the last few weeks of summer!

2014-08-05 Hartford County Single Family Contracts in July 2014 by Town