Hartford County finished July with just under 900 single-family contracts, about 3% more than July of 2018. On a year-to-date basis 2019 is about 1.4% ahead of last year. Real estate activity continues to be strong in Greater Hartford.
Inventory levels trended slightly upwards to 3.4 months by the end of July. The number of active listings remains below last year’s totals, and barely outside of seller’s market territory (less than 3 months of inventory).
Buyers don’t have many options to choose from at the lower price points. Despite that, homes still need to be priced properly to get consideration. Buyers are generally not bidding up the value of the available homes, and are instead content to wait for properties that meet their needs.
As always, real estate market activity varies by town. It is important to take a detailed look at the markets and sub-markets to understand their dynamics. Some are very favorable to sellers right now, while others are very favorable to buyers. We keep track of that sort of information and will be happy to advise.
