Expert Advice from Amy & Kyle Bergquist at Keller Williams Legacy Partners
Here’s a quick look at how the Hartford County real estate markets performed last month. Closings in October reflect deals negotiated during the summer and fall depending on the amount of time between the contract date and the closing date. The data comes from the Connecticut Multiple Listing Service (CTMLS), which is deemed reliable but not guaranteed. Some Observations There was a wide range in the percent change in number of transactions for this October
Hartford County residential sales fell significantly in the third quarter of 2010 versus the third quarter of 2009 as buyers took a breather following the June expiration of the Federal Home Buyer Tax Credit. Median prices rose modestly over the year-previous quarter, while another measure of pricing, the median price per square foot, fell a comparable amount. Most noteworthy was the change in the mix of homes that sold as the Tax Credit phased out
The question we get more than anything else is, “Where is the real estate market going?” We try to answer with a quick recap of the current situation, and maybe some thoughts on the near future, but that’s often not enough for the questioner. They want to know the long-term direction of the real estate market. They understand that we can’t predict the future, but they ask anyway. The real answer is that nobody knows,
In this area, all roads lead to Hartford. Literally, the roads all converge on the capital city. Interstate highways, state highways, and even smaller arteries spread out from Hartford like the spokes of a wheel. It’s very important that home buyers understand this fact during their home search. Where are the towns or neighborhoods they’re interested in compared to their jobs? Are they comfortable making the drive every day? Everyone has different views on how
Kenneth Gosselin’s piece about the Bank of America building in today’s Courant noted that the owner of 777 Main Street had considered converting some of the building to condos in 2006, and ended with a quote making it clear that a residential conversion was back on the table. Although the current situation can be viewed as a loss for the City – nobody wants to see a business downsizing – it can also be seen