Real Estate Statistics

Happy Fall! After a brief bout with Indian Summer, it looks like we are now well on our way to Fall.

Historically the real estate market in West Hartford has been strong during the Fall. I would be comfortbale in saying that from 2003-2008, our market has has very good activity beween Labor Day and, let's say, Thanksgiving. In 2009 and 2010 we saw a slow down in our Fall market, but so far in 2011 we are really seeing an uptick from last year.

I am not going to say the market has come back, but I am going to say that there is activity. Sure, you see many houses for sale that appear to have been for sale forever. Maybe these houses are on your street, or main roads that you travel everyday. Some houses remain hard to sell for one reason or another, but others are selling and some even with multiple offers.

I do not have up to the minute statistics, but I do have some good news. According to the CTMLS (our statewide MLS system), though the number of houses that sold in the second quarter of 2011 dropped to 6,395 from 7,349 in the second quarter of 2010, the median price of those same homes rose from $230,000 to $289,000! This is great news. You can break this down in a few ways, but I like to look on the bright side. VALUES appear to be INCREASING! I would go a step further to say that less houses are selling because there is simply less inventory on the market.

If you would like specific statistics on your neighborhood or if you have any general questions about the market in general, let me know. I am here to help.