Greater Hartford Home Sales Rise for Second Year In A Row

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Sales of single-family houses in the greater Hartford area in 2013 posted double-digit gains for the second year in a row, and there are signs that prices are stabilizing, a new report today shows.

In 2013, sales rose 11.5 percent, to 9,711, from 8,711 in 2012, according to the Greater Hartford Association of Realtors, which tracks home sales in a 57-town area stretching from Enfield south to Middletown.

Prices appeared to stabilize last year, but they barely registered a gain. The median sale price rose less than 1 percent, to $220,000, from $218,000, the association said.

The association’s statistics suggest that sales could continue their upward trajectory into 2014. Pending sales, or houses under deposit but not yet closed, jumped nearly 10 percent in 2013 compared with the previous year, the association said.

New listings rose 7 percent in 2013 compared with the previous year, indicating new properties are coming on the market to ensure a steady stream of choices for house hunters.

“2013 saw a rebound in the greater Hartford housing market,” Jeff Arakelian, the association’s president and chief executive, said. “For this trend to continue, new listings need to remain on the increase as prices stabilize.”

 

 

 

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