East Hartford CT Market Report ~ May 2011
East Hartford is a great place for affordable homes. The statistics for May 2011 showed a slight increase over April 2011 in the number of closed sales--25 in May versus 23 in April. However, the median price was down in May, with a median price of $152,000 compared to a median price of $162,500 in April.
Median days on market improved somewhat with May showing 61 versus 68 for April. Also improving was the list price to sale price ration with May showing 95.9 versus 95.6 in April--a very slight uptick.
Compared with the previous May, which saw a surge because of the homebuyers' tax credit, number of sales were down, 25 compared to 38, but the median price was up ever so slightly--$152,000 compared to $151,950 in 2010. This may seem negligible, but in other areas we saw an increase in median price simply because of the homebuyers' tax credit. So the difference is more than would appear.
Also on an upnote is the fact that there are currently 36 homes under contract and 44 homes under deposit in East Hartford. With the increase in the state conveyance tax scheduled to take place on 7/1/11, we should expect a large number of these closing by the end of June.
Here is the breakdown by price range:
| Price Range | May 2011 | May 2010 |
| Under $100,000 | 5 | 2 |
| $100,000-$149,999 | 6 | 17 |
| $149,999-$199,999 | 9 | 13 |
| $200,000-$249,999 | 4 | 4 |
| $250,000-$299,999 | 1 | 2 |
| $300,000-$349,999 | - | - |
| $350,000-$399,999 | - | - |
| Over $400,000 | - | - |
| Total | 25 | 38 |
If you are looking for a house in East Hartford, there are currently 245 homes on the market with a median price of $156,900. As I mentioned above, East Hartford is a great place for affordable homes and you can search for what is available by changing the search criteria in the form below. Please let me know if I can help you find the home of your dreams at a great price!
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Peggy Chirico, REALTOR®
Serving the Greater Hartford Area
Prudential CT Realty
peggychirico@gmail.com
860-748-8900
If you are buying or selling a home in Hartford County or Tolland County, please call me, email me, or visit my website. I would be happy to help you with your home search or provide a market analysis for your home.
Find your dream home now!
Peggy--Good report on your local market. With the news we hear from the national market it is so good to know that some areas like yours and mine are doing much better.
It is also good to see another market like Erie with properties under 100,000.
Have a good day.
Mary
Hi Mary - I think we are doing better than many areas, with so many affordable homes available. I'm glad to hear your area is doing well also. Have a great day yourself!
Peggy, great market report for those contemplating buying or selling in East Hartford, CT. Call Peggy Chirico for your real estate needs!
Hi Joan - Thank you!!!
Peggy -- Good point on getting the properties closed before June 30 to avoid the conveyance tax increase. These local reports written by those who KNOW their markets, like yourself, are what buyers and sellers need to read instead of listening to the national media doom and gloom.
Hi Barbara - I was just thinking the same thing as I read ANOTHER doom and gloom article. You had to read through to the last paragraph to find out that the statistics they were talking about were national!