Both single-family homes and condos saw more sales and higher median prices in December, according to the Greater Hartford Association of Realtors.
The median sale price of single family homes in Greater Hartford increased for the second consecutive month, by 3.6 percent, from $202,250 to $209,450 over December 2014. Closed sales rose 15.4 percent, from 818 to 944, and pending sales rose 19 percent, from 600 to 714, respectively.
New listings increased 8.3 percent, from 775 to 839, and inventory increased 3.6 percent
from 5,627 to 5,828. The average number of days on market decreased 14.1 percent, from 85 to 73 days, during this same timeframe.
For the full year closed sales rose by 9.7 percent, from 9,815 to 10,765, compared to 2014, while pending sales increased 15.2 percent, from 10,699 to 12,320.
The median sale price decreased 1.4 percent in 2015, from $215,000 to $212,000, and new listings increased 4.3 percent, from 19,142 to 19,964.
The average number of days homes spent on the market fell from 73 days in 2014 to 71 days in 2015.
Condominium sales increased 3.1 percent, from 197 to 203, over December 2014. The
median sale price increased from $141,000 to $143,000, and the average days a condo spent on the market fell from 86 to 65 days.
For the full year, condo sales increased 8.8 percent, from 2,365 to 2,572, and the median sale price decreased 1.5 percent, from $147,750 to $145,500. But condos spent an average of 88 days on the market, up from 81 days a year prior.
“After months of increased sales, it’s a welcome sign to see a consecutive rise in prices,” said GHAR CEO Jeff Arakelian in a statement. “Those who are on the fence about buying a home should take advantage now while affordability is ideal.”
