2020 was a most unusual year, both in the real world and in the real estate market. We’ll take a deeper look at what happened later this month, but for now we can confirm that December continued the trends of strong buyer activity and low inventory.
Hartford County finished the year with an astonishing 17.7% more single-family contracts that in 2019. As a point of comparison, there were nearly twice as many deals in 2020 as there were in the 2010. Where the prior national catastrophe (housing-related financial crisis) depressed the local real estate market, the current national catastrophe (pandemic) boosted the local real estate market.
The chart below shows the December and full year contract totals by town. Most noteworthy is that sellers continue to have a strong opportunity in the market because inventory levels are so low. Look for more analysis in the coming weeks, and always feel free to reach out if you want to discuss your personal situation.