The Hartford County single-family market finished September 2016 in a virtual tie with September 2015. There were 735 contracts signed over the past month. On a year-to-date basis, 2016 is about 11% ahead of 2015.
After strong outperformance through May, this year’s monthly deal totals have bounced around the previous year results. There is still a nice amount of activity, so we’re not seeing any major imbalances in the markets. The supply of available homes is at 4.2 months for the overall County, which is considered a neutral market that favors neither buyers nor sellers.
Inventory at individual price bands refines the picture a little bit. There continues to be fewer houses available, relative to the number of deals, at lower price points than at the upper price points. Price points below $200,000 have less than 3 months of inventory, which favors sellers. Price points above $400,000 have more than 6 months of inventory, which favors buyers. The $1,000,000+ market continues to strongly favor buyers, with over 22 months of inventory available.
Have a wonderful fall! We’ll keep tabs on the market and report any major shifts that we see in the environment. At this point it appears that the selling season is winding down, as the colder weather approaches.
