April was a very strong month for the Hartford County real estate market. Single-family sales easily topped the 1,000 level, and outpaced the observed total from April 2018. On a year-to-date basis 2019 pulled slightly ahead of 2018.
Market activity has been smoothly building throughout the spring. This year has been consistently strong for sales, but it wasn’t until April that we saw the market transition into full-fledged spring mode.
Inventory levels continue to be on the low end of the normal spectrum, with just under 3 months of homes available on a County-wide level. That said, there are sub-markets (towns and/or price points) with less activity than the overall market.
The current stats technically favors sellers because of the low inventory, however we are seeing home shoppers require that asking prices be at the right level before they are comfortable buying a home. Values are not appreciating on their own – owners have to actually improve their properties in order to push the value upwards.
We see the strong spring market continuing, so it’s not too late to get involved as either a buyer or a seller.