{"id":14328,"date":"2021-01-14T08:56:42","date_gmt":"2021-01-14T13:56:42","guid":{"rendered":"https:\/\/www.amybergquist.com\/blog\/?p=14328"},"modified":"2021-01-15T09:17:55","modified_gmt":"2021-01-15T14:17:55","slug":"2020-year-end-single-family-deals","status":"publish","type":"post","link":"https:\/\/www.amybergquist.com\/blog\/2021\/01\/14\/2020-year-end-single-family-deals\/","title":{"rendered":"2020 Year-End Single-Family Deals"},"content":{"rendered":"

I really enjoy gathering and reviewing year-end data from the Greater Hartford real estate market, probably to an unhealthy degree. There is a lot to consider this year, so I’m going to break the analysis into multiple articles. This is Part 1 of the year-end review … let’s reminisce about 2020!<\/em><\/p>\n

\"2021-01-11<\/p>\n

Hartford County experienced a strong increase in the number of single-family real estate transactions during 2020. Our local MLS, called SmartMLS, included 9,907 closed sales during the year. This represented an increase of about 15% over the 2019 total, and record high since 2001 when the predecessor MLS went digital.<\/p>\n

Although the monthly contract reports<\/a> tipped us off that this year would exceed prior totals, it is amazing that it occurred during a global pandemic with an unprecedented spike in unemployment claims. The pandemic environment was apparently very motivating for buyers, as it made them strongly prefer single-family homes. The environment also encouraged the government to try to stimulate the economy, which resulted in historically low mortgage interest rates throughout the year. <\/p>\n

Taking the deal count data a step further, the chart below breaks down the year’s closed sales into price bands.<\/p>\n

\"2021-01-11<\/p>\n

Decreases in the two lowest price bands (<$100,000 and the $100,000s) strongly suggest that prices rose during the year. A homes valued at $190,000 in 2019 (as an example) was probably worth a little more in 2020 and moved up to a higher price band.\n\nThere were clear gains in the number of sales in the $200,000s, the $300,000s, the $400,000s, and the $500,000 - $699,999 bands, which reflected the step up in buyer demand for single-family homes throughout the County. There were even modest gains at price points above $700,000, which was a very slow portion of the market in recent years.\n <\/br>
\nNext: The annual look at prices<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

I really enjoy gathering and reviewing year-end data from the Greater Hartford real estate market, probably to an unhealthy degree. There is a lot to consider this year, so I’m going to break the analysis into multiple articles. This is Part 1 of the year-end review … let’s reminisce about 2020! Hartford County experienced a strong increase in the number of single-family real estate transactions during 2020. Our local MLS, called SmartMLS, included 9,907 closed<\/p>\n

Continue Reading<\/a><\/p>\n","protected":false},"author":2,"featured_media":14329,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1568,1584,1591],"tags":[2484],"class_list":["post-14328","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying","category-market-statistics","category-selling","tag-market-stats"],"_links":{"self":[{"href":"https:\/\/www.amybergquist.com\/blog\/wp-json\/wp\/v2\/posts\/14328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.amybergquist.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.amybergquist.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.amybergquist.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.amybergquist.com\/blog\/wp-json\/wp\/v2\/comments?post=14328"}],"version-history":[{"count":10,"href":"https:\/\/www.amybergquist.com\/blog\/wp-json\/wp\/v2\/posts\/14328\/revisions"}],"predecessor-version":[{"id":14361,"href":"https:\/\/www.amybergquist.com\/blog\/wp-json\/wp\/v2\/posts\/14328\/revisions\/14361"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.amybergquist.com\/blog\/wp-json\/wp\/v2\/media\/14329"}],"wp:attachment":[{"href":"https:\/\/www.amybergquist.com\/blog\/wp-json\/wp\/v2\/media?parent=14328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.amybergquist.com\/blog\/wp-json\/wp\/v2\/categories?post=14328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.amybergquist.com\/blog\/wp-json\/wp\/v2\/tags?post=14328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}