Greater Hartford home prices up slightly in December
The median sale price for a single-family home rose ever so slightly between November and December though the total number of sales dropped.
The Greater Hartford Association of Realtors reported that the median sale price increased .029 percent from $253,750 to $254,500 from November to December. However, closed sales dropped 33.9 percent from 736 in November to only 550 in December. Furthermore, pending sales declined 37.2 percent, new listings tumbled 67.5 percent and total inventory fell by 14.2 percent.
Jeffrey Arakelin, president and CEO for the association, said the small increases in the median sale price and a 6-percent decrease in the time a house is on the market are indications of a "healthy pool of potential home buyers" despite the other troubling statistics.
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