The current real estate market for buyers in the Greater Hartford area is not for the faint of heart.
Buyers are finding low inventory, multiple offer situations, and bidding wars to be the norm, and the statistics reflect their experience.
Below is a press release from Oct. 15, 2020 provided by the Greater Hartford Association of REALTORS with the most recent housing stats.
“According to the Greater Hartford Association of REALTORS 1/4 u00ae (GHAR), the median sales price of single-family homes in Greater Hartford increased 20.50 percent (from $241,900 to $291,500) over September of last year. Closed sales increased 27.44 percent (from 554 to 706) and pending sales rose 28.68 percent (from 516 to 664). New listings decreased 27.80 percent (from 820 to 592) and inventory dropped 56.14 percent (from 2663 to 1168), during this same time frame.
In year-to-date statistics, year over year, new listings decreased 20.26