GHAR reports single family home inventory drop

WEST HARTFORD >> Inventory of single family homes decreased 19.78 percent (from 7178 to 5758) over April of last year, according to the Greater Hartford Association of REALTORS® (GHAR). Closed sales decreased 1.89 percent (from 901 to 884) and pending sales decreased 4.62 percent (from 1429 to 1363). The median sale price dropped 2.78 percent (from $216,000 to $210,000) and new listings are down 8.98 percent (from 2083 to 1896). The average number of days on market decreased 19.74 percent (from 76 to 61), during this same year-over-year comparison.

In year-to-date statistics, closed sales rose 3.01 percent (from 2989 to 3079) and pending sales decreased 0.95 percent (from 4507 to 4464). The median sale price decreased 2.44 percent (from $205,000 to $200,000) and new listings also decreased 11.30 percent (from 6761 to 5997). During this same time-frame, the average days on market dropped 9.09 percent (from 77 to 70 days).

Condominium sales decreased 2.38 percent (from 210 to 205) over April of last year. The median sale price decreased 0.37 percent (from $133,500 to $133,000) and the average days a condo spent on the market decreased 16.90 percent (from 71 to 59 days). Condo inventory dropped 23.99 percent (from 1805 to 1372), over this time last year.

In year-to-date statistics, condominium closed sales increased 5.32 percent (from 695 to 732) and the median sale price decreased 1.48 percent (from $134,900 to $132,950). The average days a condo spent on market from the beginning of the year dropped 6.10 percent (from 82 days to 77).