Hartford Metro Not Sharing In House Price Gains Early In ’13

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The median sale price of previously-owned single-family houses in the Hartford metro area didn’t register the gains seen nationwide in the first three months of this year, according to a new report today.

The Hartford metro area’s median sale price was $202,100 in the first quarter, flat compared $202,000 for the same period in 2012, the National Association of Realtors reported.

That compares with a 11.3-percent gain for the nation as a whole in the same period. Hartford, however, was closer to the Northeast as a whole, which inched up 3 percent.

The Hartford metro’s price was part of a larger quarterly report on 150 metro areas across the country tracked by the association.

Other metro areas in Connecticut fared better than Hartford. The median sale price in  Bridgeport metro area, which includes all of Fairfield County, rose 7.8 percent, to $360,100, from $334,000 a year earlier. And in the New Haven metro area, the median rose 5.3 percent, to $203,400 from $193,100 a year ago.

Some of the strongest gains in the country are in areas such as Nevada, California and portions of the Midwest, which were hardest hit by price declines in the housing downturn.

The median rose in 133 of the 150 metro areas tracked by the association. The largest gain was registered in the Akron, Ohio metro center, at 32.7 percent. The biggest decline was in Kankakee, Ill., at nearly 19 percent.




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4 thoughts on “Hartford Metro Not Sharing In House Price Gains Early In ’13

  1. pete

    No KIDDING. The state is dying due to DANNY BOY and the ‘RATS and RINOS who know nothing more than TAX AND SPEND TAX AND SPEND TAX AND SPEND. How many companies have announced job cuts or moves out of CT in the first 4 months of 2013 and the new contract with UTC doesn’t prevent job moves. It will only get worse much much worse. 3.5 million ct residents 700K on the welfare gravy train.

  2. Mister Mike

    I don’t know what Pete’s talking about (either his tri-cornered hat is on too tight, or his tin foil hat has a hole in it), but regarding the actual subject of the story, it’s missing a little context. Hartford metro was not hit as hard by the real estate crisis. The areas with the bigger recovery rates tend to have also suffered more drastic declines during the worst years of the crisis, c. 2007-2009, so naturally the Hartford Metro recovery is muted in comparison to New Haven and Fairfield Counties, which being part of the NYC metro area, suffered comparitively greater declines a few years back.

  3. DR

    While Mister Mike is correct, Pete sort of (in a crazy sounding sort of way) touches upon an important point.

    Price of homes is also reflective of an area’s economy and desirability. If jobs are being added and if people want to move to an area, the prices go up (i.e. SF or DC area). CT is not adding jobs and is not seen as a desirable place to live – two factors which prevent local homeowners from enjoying price gains seen elsewhere.

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