Expert Advice from Amy & Kyle Bergquist at Keller Williams Legacy Partners
The headline trend in the Hartford County single-family real estate markets in 2014 was that there was no prevailing narrative. After a few years of uncertainty in the late 2000s following the financial crisis, the markets enjoyed a few years of obvious recovery. The results of 2014 cannot be explained in comparable terms. The simple way to explain the year is to say it was a repeat of 2013. The number of single-family deals recorded
Last week we published some charts showing the direction of the overall single-family market in Hartford County for 2013. The quick summary was that sales activity has been increasing nicely for two years, but median prices have been stuck in a protracted valley. The data tells a variety of different stories when we zoom in to the individual towns. Before we get there though, a quick disclaimer. It’s difficult to take too strong a position
Most of the year we avoid looking at prices when we analyze market statistics. Considering only a month’s (or even quarter’s) worth of data is risky because the sample size is too small, while making a more sophisticated model to account for the small sample size is beyond our abilities. However we are comfortable looking at a full year of data, and now that the calendar has turned over to 2014 we can look back
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
The attitudes and habits of Generation Y will determine the future of the American real estate market (and most other areas of our economy). They have different feelings and priorities when it comes to housing than previous generations. Members of Gen Y have been particularly hard hit by the choppy economic conditions that have dominated since the early 2000s. The Atlantic recently published a piece called The Cheapest Generation and the subtitle “Why Millennials aren’t