The Hartford County multi-family residential market continued to improve in 2019. The total number of closed deals increased about 3% over the previous year to 928 sales. Activity was up more than 56% from the low point in 2012 when the market was in disarray. Of the three residential property types (single-family, condominium, and multi-family), the multi-family market is the strongest and healthiest. This is true despite the fact that sales totals are well below
Condominiums are an important segment of the Hartford County real estate market, representing about 19% of the total residential sales (single-family, condo, and multi-family) during 2019. They offer a different mix of features and benefits than the other property types, and are usually available at a lower price point. Last year there were 2,220 condominium deals according to the SmartMLS. The total was in line with the result of the past three years. It represents
Hartford County finished 2019 with a single-family sales count in the mid-8,000s for the fourth year in a row. Data from SmartMLS shows that this was a similar activity level to the very early 2000s. A key difference from the early 2000s is that the extended period of strong sales activity has not resulted in nearly the same amount of price appreciation. The County’s median sales price increased by nearly 9% between 2015 and 2019,
The 2019 real estate market finished with a strong December, and with 3% more contracts overall than 2018. The full year total was the highest we have recorded (since 2009), though within a few percent of the final tally from each of 2016-2019. Price band data suggested increasing home values at price points below $300,000. Evidence included a year-over-year 17% decline in the number of contracts for properties asking less than $100,000, no change to
Strong November sales activity extended 2019’s year-to-date lead in contracts signed to about 3% ahead of 2018 totals. There were 699 single-family deals negotiated during the month, which was 4% higher than last November, and continued the consistent 2019 performance visible in the chart above. The number of active listings fell significantly since the last report. There are currently 2,296 properties available for buyers to consider, about 300 (11%) fewer than last year at this
