Hartford County, Connecticut 2011: 1st Quarter Market Report

Hartford County, Connecticut 2011: 1^st Quarter Market Report

Hartford County, CT includes Avon, Berlin, Bloomfield, Bristol, Burlington, Canton, East Granby, East Hartford, East Windsor, Enfield, Farmington, Glastonbury, Granby, Hartford, Hartland, Manchester, Marlborough, New Britain, Newington, Plainville, Rocky Hill, Simsbury, South Windsor, Southington, Suffield, West Hartford, Wethersfield, Windsor and Windsor Locks.

In the first quarter of 2011, a total of 1354 homes sold at an average price of $231,574 and an average marketing time of 99 days. With current market inventory at 6654 homes total, less than 7% of homes are currently selling in any given month. This is actually down from last years overall absorption rate of 11% per month. The market in Hartford County has only slowed since last year!

Out of the 1354 homes that sold, 84 (6%) were short sales, coming in at an average sold price of $166,629 - a heavy drop from the average of all sold homes.

Bank owned homes made up 16% of all sold inventory, with 221 REO sales total. The average of these sales was just $141,524.

Out of currently available inventory short sales make up 11%, while REO (bank owned properties) make up another 6% for a total of 18% of all currently available inventory. However, 22% of all SOLD inventory consists of distress properties, suggesting that distress inventory is actually more likely to sell than non-distress inventory. This is not surprising when taking into account the level of motivation for a distress home seller vs a "regular" home seller.

There is a big difference between those who WANT TO SELL and those who HAVE TO SELL , especially in these trying times.

HAVE TO SELL YOUR CT HOME? GET HELP HERE.