Real Estate Investment:Hartford County Home Sales Up Slightly in June 2009

Article Summary:

Article Content:

In June 2009, the median sales price of single family homes in Hartford County Connecticut increased to 6,000 over May 2009.

Pending sales are also up in June to 1,431, an increase when compared to May 2009.

But in comparison to June 2004-2008, the number of closed sales for June is way down - there were almost half the number of sales in June 2009 as there were in June 2005.

Event though 2009’s real estate market is relatively slow (this turtle was kind enough to pose for me in my yard last week to use in this post), the number of homes on the market is low enough to make the real estate market fairly balanced.

From April - June 2009, there were 1,590 single family home sales in Hartford County or 530 sales per month. With 3,224 homes currently on the market, there is a 6 month supply of homes on the market or a balanced market - neither a seller’s nor buyer’s market.

However, there is a high number of pending sales that will likely not close which actually puts the months of inventory higher around 7-8 months.  I’ll talk about this “hidden” inventory more this week.

investing stocks