Closed sales of single-family homes in the Greater Hartford area fell 9.1% between last September and this September, as Realtors continue to point toward low inventory and increasing prices as a reason for the decline.
The Greater Hartford Association of Realtors released a year-to-year comparison for September this week showing that the number of single-family home sales in central Connecticut fell from 667 to 606. Pending sales also declined by 9%, from 603 to 549.
Inventory of single-family homes in Greater Hartford dropped 27.3%, from 1,462 to 1,063, over June of last year, indicating that efforts to slow the economy are beginning to tamp down demand, according to the Greater Hartford Association of Realtors.
The median sales price increased 4.9% (from $335,000 to $351,250), according to the data.
Closed sales decreased 11.2% (from 820 to 728) and pending sales decreased 14.4% (from 803 to 687), the group said.
Hotels and office buildings being converted to apartments. Mall space being transformed into healthcare and mixed-use facilities. Old manufacturing plants being re-imagined as modern e-commerce warehouse distribution centers.
All these types of redevelopment projects are occurring around our state and country. As we move closer to a post-pandemic world, I believe we are headed toward a great period of redevelopment.
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Jan. 24, 2021
The Harc family mourns the passing on January 14 of Margaret Tedone, our beloved founder and leader. In 1951, Tedone and a group of friends founded The Hartford Association for Retarded Children, later renamed Harc, Inc. It was a time when children with intellectual or developmental disabilities (IDD) were routinely put away and warehoused in large state institutions. Bearing a child with an intellectual disability was often fraught with shame. Countless people were unaware of siblings living at Mansfield or Southbury State Training Schools. Tedone and her fellow parents gave birth to a movement that created a full range of community-based supports from birth and throughout the lifespan.