The Hartford County single-family market ended the first quarter with about 5% less activity than observed in the first three months of 2013. March of this year resulted in more than 11% fewer single-family contracts than March of last year. The market has continued to feel slow as we gradually transition from winter into spring. The inventory of available homes is currently at 5.0 months, which is higher than the 4.6 months observed at this
The amount of time between the contract date and the closing varies greatly – every situation is a little different. However, after looking at all of the single-family deals that closed in Hartford County in 2013 we can see some trends. The peak of the curve is between 35 and 55 days. This is the range that we usually see with our clients. It allows the buyer enough time to secure a mortgage, and the
There were 509 single-family contracts that came together in Hartford County in February of 2014. This is slightly fewer than last month, and slightly more than February of last year. Like February of 2013, the winter weather influenced the real estate market. This time it was a couple snow storms and severe cold. Sellers have been reluctant to list their homes for sale, for a couple reasons. They worry that the it’s not quite spring,
The Hartford County single-family home market began 2014 with 519 contracts in January. The total was more than 4% lower than January of last year, though still higher than any other year since our data began in 2009. January was the longest cold stretch that we can remember in Greater Hartford. There have been brief deep freezes, but our experience in the area is that the temperature rarely falls below 20 degrees for long. This
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
