Greater Hartford July 2009 Real Estate Market Statistics

The July real estate market statistics for Greater Hartford are ready and they look better than they have in many months. As always, data came from the CT Multiple Listing Service for single family homes only and is deemed reliable, but not guaranteed…

July 2009 Greater Hartford Real Estate Market Statistics

My observations…

1. Twelve of the seventeen towns covered actually saw an increase in the number of closed sales when comparing July 2008 to July 2009. Also, when aggregating these towns, the number of sales increased 7.3% when comparing May 2008 to May 2009, which is the first increase we’ve seen since I started reporting these statistics over a year ago.

2. A few of the towns that saw increases in the number of closings (Manchester, Newington, and South Windsor) also saw an increase in Median Price. Sellers will see this as a positive note. As always, I’ll caution that Median Price is more relevant on a quarterly or yearly basis when there is more data taken into consideration.

3. Months of Inventory continued to drop in most towns during the past several months. 10 of the 17 towns are a Neutral market (between 3-6 months of inventory), Newington is a Seller’s market (less than 3 months of inventory), and the remaining towns are Buyer’s markets (6+ months of inventory).

Once August data is available I’ll run a post on the June-July-August numbers so we can see how the spring market of 2009 compared to the same timeframe in 2008. Enjoy the last few weeks of summer!

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