Hartford County single-family contracts finished the month just over the 1,000 level (again), a strong number for an August. On a year-to-date basis the market was 9.5% ahead of the 2019 total, though about 3% behind 2020’s unusual trend. Inventory inched upwards again during the month, and on a countywide basis stood at about 1 month of homes. This result keeps local real estate firmly in seller’s market territory, which is defined as less than
The Hartford County real estate market took a small step in the direction of normal in July. Single-family home sales continued to be high, with just over 1,000 contracts signed, but inventory levels inched upwards during the month to give buyers more options to consider. Although the chart above shows a trend for 2021 that looks more like 2019 than 2020, the market is still incredibly active. We are currently on a 5 month streak
June was a busy month for Hartford County real estate. There were 1,139 contracts signed, which is high for normal years but behind the 2020 pace due to pandemic distorts. The better comparison for this year’s data is the 2019 data. The market showed much less of a decline from May than in 2019. Through the first half of the year there were about 8% more single-family deals than in 2019. Inventory continues to be
Hartford County finished May with 1,163 single-family contracts, a total that was in line with the past two years. On a year-to-date basis 2021 is on the fastest deal count pace since we’re been reporting stats. The market was constrained by low levels of available inventory. As of the end of the month the number of active listings had inched up to 752, corresponding to 0.7 months of deals at the recent pace of sales.
The current real estate market reminds me of something we learned in business school. The corporate world was very focused on “Just in Time” supply chain logistics when we were earning our MBAs. The idea was that the most efficient way to run a business was to hold as little inventory as possible. Minimizing inventory had the benefit of minimizing expenses and minimizing space requirements, but it depended on regular inventory deliveries. Consider water as