|
|
|
|
|
Info provided by Keara Langston from the Greater Hartford Association of Realtors®
(Hartford, Conn., May 15, 2025) – According to the Greater Hartford Association of REALTORS® (GHAR), the median sales price of single-family homes in Greater Hartford rose 9.8 percent (from $383,727 to $421,500), when compared to April of last year. Closed sales decreased 1.7 percent (from 350 to 344) and pending sales dipped 1.4 percent (from 435 to 429). Housing inventory decreased 4.5 percent (from 621 to 593) and new listings also decreased 9.2 percent (from 588 to 534). The average days on market until sale decreased 10.5 percent (from 19 to 17 days), over April of 2024.
In year-to-date statistics, over April of last year, the median sales price of single-family homes rose 8.3 percent (from $360,000 to $390,000). Closed sales decreased 0.3 percent (from 1171 to 1167) and pending sales increased 3.0 percent (from 1343 to 1383). New listings decreased 0.1 percent (from 1672 to 1625) and the days on market decreased 17.2 percent (from 29 to 24) from the beginning of the year, when compared to last year.
Condominium closed sales in Greater Hartford decreased 26.2 percent (from 145 to 1107) and the median sales price dropped 3.5 percent (from $285,000 to $275,000), when compared to April of last year. Inventory increased 23.2 percent (from 138 to 170) and pending sales dropped 10.9 percent (from 137 to 122). New listings decreased 13.2 percent (from 144 to 125) and days on market decreased 37.5 percent (from 24 to 15), compared to April of last year.
“Until there is more housing inventory, affordability will continue to be an issue,” said GHAR CEO, Holly Callanan. “Seeking the advice of a knowledgeable Realtor is so important in this challenging market.”
In the national outlook, Lawrence Yun, National Association of REALTORS® chief economist stated: "Home buying and selling remained sluggish in March due to the affordability challenges associated with high mortgage rates. Residential housing mobility, currently at historical lows, signals the troublesome possibility of less economic mobility for society."
|
|
|
|
|
|
|
|
|
|
196 Berlin Turnpike Unit 5
Berlin, CT 06037
|
©2025 BHH Affiliates, LLC. Real Estate Brokerage Services are offered through the network member franchisees of BHH Affiliates, LLC. Most franchisees are independently owned and operated. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of Columbia Insurance Company, a Berkshire Hathaway affiliate. Information not verified or guaranteed. If your property is currently listed with a Broker, this is not intended as a solicitation. Equal Housing Opportunity.
|
|
|
|