April Contracts: More of the Same

Hartford County Single-Family Inventory in April 2021 by Price Band

Hartford County finished April with 1,035 single-family contract signed, which was a respectable number for the month. Comparing the total to April 2020 is pointless because the pandemic brought everything to a halt that month. This year’s total was in line with April results going back to 2016. There was a slight increase in new listings during April, with 1,144 single-family homes entered into the SmartMLS system compared to 1,011 in March. Despite the uptick,

March Contracts: A Fevered Pace

2021-04-02 Hartford County Single-Family Contracts in March 2021

Hartford County finished March with 1,029 single-family home contracts signed. The total was a dramatic improvement over the February 2021 total, and a 10% increase over the pandemic-influenced March 2020 total. The first quarter of the year ended about 3.5% behind the record-setting pace of 2020. In positive news, more homes were listed for sale in March than were in the prior months. The seasonal trends in the real estate market seemed to play out

February Contracts: Slim Pickings

The Hartford County real estate market fell well off the 2020 pace in February. The month finished with 715 single-family contracts compared to 864 last February before the pandemic hit, a decline of over 17%. This February’s total was also only slightly higher than the January 2021 total, signaling something unusual in the market. We have seen flat month-over-month performance to begin the year in our dataset before, but the prior examples were in years

Over Asking Bids

2021-02-15 Over Asking Bid Title

42% of Hartford County single-family sales closed for more than asking price in 2020 according to SmartMLS. An additional 12% of sales closed at the asking price. Note that these stats exclude new construction listings since they work differently than resale listings. Regular readers are fully aware that the real estate market favored sellers in 2020, and continues to favor sellers in 2021. Our analysis of closed prices found that less than half of last

Inventory Zero in 2021

Inventory Zero: When there are no more houses available for buyers to bid on. The Greater Hartford real estate market enters the spring of 2021 in a precarious position. Inventory of available single-family homes in Hartford County was driven sharply down in 2020 by the combination of extremely high buyer demand and moderately low seller supply. The chart below shows the active single-family listings in the County on a monthly basis going back to 2017.