Expert Advice from Amy & Kyle Bergquist at Keller Williams Legacy Partners
February was dramatic and interesting; the market statistics brought something new and different to think about and interpret. There were 489 Hartford County single-family contracts, a 13% decrease from February of 2012 and a 10% decrease from January of 2013. As the month progressed, we felt that the market had noticeably slowed from the January pace. But it’s very difficult to know how much of what we see is specific to our current set of
Great, thanks for meeting me at this house, I’m glad we were able to take the tour. Now that I showed you the house, you have to sign this contract. It says that I’m your real estate agent, that we’re going to be working together to find you a home. Go ahead and sign it now. You’re mine. An FYI to buyers … just because a real estate agent tries to get you to sign
January contracts were up nearly 19% over the same month last year. The market appears poised for a strong spring season, and to extend the increase in activity that we saw in 2012. Can 2013 outperform 2012 in each and every month in the same way that 2012 outperformed 2011? That would be exciting for the market, and going back to a chart from January showing that the region is about 30% below market activity
We never made any official predictions for the 2012 real estate market. I’m stunned that we didn’t do it because it’s a fun thing to think about, and after analyzing the year-end data we always have thoughts and ideas. We won’t make that mistake again this year … here are our predictions for the coming year. Amy 1. Low inventory in the early months of the year is going to result in more multiple offer
Most of our ongoing analysis of the real estate market is focused on contract data. We like to track contract data because it represents an important milestone, it is more immediate than closings, and it is a strong predictor of closings. But at the end of the year it is also interesting to take a look at the closing numbers since those data points have a meaningful price associated with them. In 2012 the number