The Hartford County single-family home market turned in another strong month in October. A total of 758 contracts came together during the month, which was nearly 18% higher than October of 2014.
On a year-to-date basis, there have been over 13% more deals through the first 10 months of this year versus last year. The chart above shows that the outperformance has increased since June.
The lower price points continue to show more activity than the upper price points. The lower price points also have the least inventory, meaning they are more favorable to sellers.
The general consensus from conversations with other agents is that the market is slow at the upper price points. The data shows that the upper price points are actually more active year-over-year, but that inventory numbers are higher. The issue is not that there are fewer buyers, it’s that there are more sellers competing against each other.
November is the month when the real estate markets turn the corner into winter, so the number of deals will trend downwards. This time of year is a pretty good time to be a buyer, and a great time to start thinking about 2016. Feel free to call or write with any real estate questions – we’re happy to help in any way we can.