March Contracts: A Fevered Pace

2021-04-02 Hartford County Single-Family Contracts in March 2021

Hartford County finished March with 1,029 single-family home contracts signed. The total was a dramatic improvement over the February 2021 total, and a 10% increase over the pandemic-influenced March 2020 total. The first quarter of the year ended about 3.5% behind the record-setting pace of 2020.

In positive news, more homes were listed for sale in March than were in the prior months. The seasonal trends in the real estate market seemed to play out in roughly their normal manner.

Buyer demand continued to be strong. Although the County has come close in the past, this was the first time the total number of deals topped 1,000 in March since we began tracking the market in this matter in 2009. All indications are that 2021 will be another strong real estate year.

Inventory levels appear to have stabilized, with no significant changes since the beginning of the year. At the big picture level the trends appear to be in line with our previous projections about Inventory Zero.