Over Asking in Q1 2021

2021-04-13 Percent Over Asking

The number of single-family homes that closed for more than the asking price remained quite high in the first quarter of the year. Looking at the quarterly trend since the beginning of 2019 clearly shows that the current market is behaving differently from the very active market that was observed in 2019. Over half of the Q1 deals closed for more than asking, even with sellers factoring the stronger market into the asking price. This

2015 Hartford County Single-Family Sales Data

2016-01-06 Hartford County Single Family Sales

2015 was a good year for Hartford County real estate. The total number of closed single-family sales recorded in the Connecticut Multiple Listings Service (CTMLS) database was 7,701 (as of 1/6/2016). The number of closed sales increased by 9% over the 2014 total. As the above chart shows, the market is approaching the activity levels seen in the early 2000s. The 7,701 sales are over 14% below the 2005 peak. The increase in sales have

Q2 Condo Contracts: Good News for Buyers

The Hartford County Condo market has fallen out of sync with the traditional seasonality, creating a good opportunity for buyers with lots to choose from and a more favorable pricing environment to go along with very attractive mortgage rates. The data shows a 13% decrease in the total number of contracts from the second quarter of 2010. However, looking more closely at the individual months, we can see that 2011 showed very steady performance –

Thoughts on Pricing Homes

Suppose a home came onto the market late one afternoon, received an offer that evening, and went under contract a day later. Is this a good outcome for the seller? At first glance it seems like it probably is – they resolved their uncertainty quickly, and by accepting right away they presumably got an attractive price. But maybe the fact that the first offer came in immediately suggests that the home is underpriced. And maybe

Pricing a Home – Price per Square Foot

Pricing homes is often more art than science. Some of the factors that play into a recommended pricing range are nearly impossible to measure or quantify. For example, how do you put a price on location? Everyone knows the old adage that the three most important factors in real estate are location, location and location. But how do you systematically assign value to such a complex quality? The practical answer is that we look for