Saturday, July 7, 2012 | 13
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Real Estate Notes $MPTFE 4BMFT PG 4JOHMF 'BNJMZ )PNFT JO (SFBUFS )BSUGPSE *ODSFBTF 1FSDFOU PWFS -BTU :FBS (West Hartford, Conn., April 20, 2012) – Closed sales of single family homes increased 24.21 percent (from 504 to 626) and pending sales also rose 29.17 percent (from 768 to 992) over March of 2011, according to the Greater Hartford Association of REALTORSŽ (GHAR). The median sales price dropped 6.56 percent (from $217,250 to $203,000) and new listings rose 5.04 percent (from 1606 to 1687) and inventory increased 6.49 percent (from 6044 to 6436), when compared to last year. In previous month comparisons, closed sales rose 48.69 percent (from 421 to 626) and pending sales increased 29.34 percent (from 767 to 992). New listings rose 28.29 percent (from 1315 to 1687), when compared to February. Housing inventory increased by 6.70 percent (from 6032 to 6436) during this same time frame. In year to date statistics, closed sales rose 12.08 percent (from 1291 to 1447). Pending sales also increased 29.61 percent (from 1817 to 2355) and new listings dropped 5.29 percent (from 3457 to 3274). The median sale price decreased 6.45 percent (from $215,000 to $200,000). Closed sales of condominiums in Greater Hartford decreased 1.45 percent (from 138 to 136) when compared to March of last year. The median sale price dropped 14.83 percent (from $158,500 to $135,000) as did inventory by 0.72 percent (from 1816 to 1803). “Our members are reporting a busy spring so far,� GHAR President and CEO, Jeff Arakelian, stated. “It’s a perfect time for people to take advantage of these high affordability conditions,� he continued. In the national outlook, Lawrence Yun, NAR chief economist, said the recovery is in the process of settling into a higher level of home sales. “The recovery is happening though not at a breakout pace, but we have seen nine consecutive months of year-over-year sales increases,� he said. “Existing-home sales are moving up and down in a fairly narrow range that is well above the level of activity during the first half of last year.�
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