Expert Advice from Amy & Kyle Bergquist at Keller Williams Legacy Partners
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
The 2012 Hartford County single-family real estate market finished the year strongly. Which really wasn’t a surprise since it had consistently shown an increase in activity throughout the year. The final count shows that the number of contracts for December was up about 10% over the previous December. This wasn’t as much market growth as we had seen in past months, but the strangeness that occurred at the end of 2011 makes the year-over-year comparisons
November contracts came in at 482 deals for the month, which shows a reasonable and normal decline as we head into the colder months and the holiday season. Comparing this November to last year is misleading. The data shows us more than 40% ahead of November 2011, which is much higher than the 25% year-over-year bump that we have been reporting in past months. But last year there was a disruption in the market than
The Hartford County single-family market continued its strong 2012 performance with an October that was more than 26% ahead of October of 2011. Year-to-date, the County is about 24% ahead of last year in terms of the total number of deals. The Contracts Written by Month chart shows a gradual decline in market activity since the spring. Every year is different, with its own unique pattern, but this one seems pretty easy to interpret. Activity
The Hartford County single-family market kept on marching right through September. You’ll notice in the chart below that it was the 7th most active month this year. You’ll also notice that it was a busier month than every month in 2011 except May – the peak of the spring market. There’s another interesting stat that you can’t see in the chart. The number of contracts put together in the first nine months of 2012 has