Expert Advice from Amy & Kyle Bergquist at Keller Williams Legacy Partners
So, just how bad was the 2008 real estate market in the Greater Hartford area? The numbers are in. They’re not necessarily pretty, but they’re not as ugly as they could be either. The data below is from the CTMLS and is deemed reliable, but not guaranteed. All information is for single family home sales only… My observations… 1. The number of closed sales was down in every town but one. Newington saw a 1%
November and December are traditionally slow months for real estate sales. People would rather focus on the various holidays, rather than think about buying and selling houses. Well, this year things appear to have slowed a little bit earlier than usual. Based on the towns I’m tracking below, the number of closed sales for single family homes was down 31% overall when comparing November 2008 to November 2007. That’s fairly significant. Here are the monthly
Right now, many sellers are finding that they’re not exactly getting what they thought they would when they try to sell their homes. In some cases, sellers are deciding to forego an immediate sale at a price they find less than palatable, and instead focus on renting their homes, as they try to wait out the market. Renting isn’t always the optimal choice for a seller because it doesn’t free up liquidity if they need
Another month has ended, so it’s time for real estate statistics in the Greater Hartford area. The data you see here is a result of houses that mostly went under contract in August, September and maybe early October. The sentiment among the majority of Realtors right now is that the market is very slow. There is a lot of uncertainty with the economy and the election. Hopefully after today, Buyers will have one less thing
There are various ways agents arrive at a recommended listing price range for sellers. One check we will typically use is the Average Sales Price per Square Foot for the specific town (or even specific neighborhood within a town). Here’s a chart of towns in the Hartford area and the Average Sales Price per Square Foot for the last two years… A couple of thoughts about this data… 1. Keep in mind that smaller houses