Expert Advice from Amy & Kyle Bergquist at Keller Williams Legacy Partners
More numbers today. We’re through April, so it’s time to look back and see how the market fared last month compared to the same timeframe in 2008. All data comes from the CT Multiple Listing Service, is for single family homes only, and is deemed reliable, but not guaranteed. My observations… 1. Just like January and February, there were so few transactions in some of the towns that this data is not very statistically relevant,
People always ask me “How’s the market doing? Is it really as terrible as the media makes it out to be?” My response is typically “it depends…” Different price points are reacting differently in this market. Different towns are reacting differently in this market. Today, let’s take a look at it from the price point view, from one town. As you know, I like to look at West Hartford because it is a very active
People generally understand that real estate is local. The markets are driven by regional economies, which ultimately depend on the number and type of jobs in the area. Therefore local data is more relevant than national data in most real estate decisions. Local data is gathered, analyzed and published by diverse groups and individuals that range from specialty firms to local bloggers. Because every home is unique and towns have wide ranges of home types,
Real estate activity in West Hartford feels like it has really picked up over the past few weeks. Agents are buzzing around like busy bees, and houses are going under contract. We’re seeing some homes sell very quickly after they are offered for sale, and we’re seeing multiple buyers compete for properties. There is clearly still broad interest in living in West Hartford. I was curious to see if the data supported our “feel” for
Of all the real estate market data that Amy reported last week, the decline in median home prices in Glastonbury really grabbed my attention. To quickly recap, the first quarter of 2009 saw 33% fewer transaction (43 vs 64), and a 19% decrease in median home price ($310,000 vs $382,500). Only 4.7% of the transactions were distressed properties (the lowest of all the towns). Glastonbury had held up quite well relative to other towns in