The median sales price of single-family homes in the Greater Hartford region rose by nearly 16% in July, compared to the same month last year.
The Greater Hartford Association of Realtors (GHAR) reported July’s median sales price for single-family homes was $330,000 compared to $285,000 in July of 2020. The 824 closed sales in July represent a 4% increase from July 2020, when there were 793 closed sales, according to GHAR.
Rising sales prices in July continued to follow an upward trend. GHAR previously reported the median sales price for single-family homes in June was up nearly 22% from the previous June, and May’s median price was up nearly 16% compared with May, 2020.
“Low inventory continues to create high prices and until more houses are on the market, this trend may continue,” GHAR CEO Holly Callanan said.
Pending sales decreased slightly in July of 2021, with 811, a 0.5% reduction over the number of pending sales in July 2020.
Condo sales in Greater Hartford in July climbed about 7% to 205, and their median prices increased just under 12% to $200,000.
