Do you want content like this delivered to your inbox?
Share



Share

Covid 19 Real Estate Market Update for the Hartford County Area

Matt Lloyd

While starting his career in one of the worst real estate markets in history, Matt saw the endless opportunities available and cannonballed into real ...

While starting his career in one of the worst real estate markets in history, Matt saw the endless opportunities available and cannonballed into real ...

Apr 20 3 minutes read

During these uncertain times, it's important to have a good understanding of how the Covid-19 pandemic is effecting the real estate market in the Hartford County area.

 For the week of 5/24 to 5/30

182

New Listings

441

Under Contract

216

Closed Sales

35

Temp

What does the data mean?

This week was the second week in row in where the New Listings ticked down a little, from 213 down to 182.  I believe this could be a combination of a few factors, 1. the lack of inventory for sellers to choose from for their next purchase and 2. sellers waiting until the school year is done for their kids. 

This is the second week we saw over 400 homes go under contract.  Good to see that buyers are still jumping on the low mortgage rates and grabbing the new homes that are popping on the market.

Closings jumped up this week from 141 up to 216!

This past week the market saw 35 homes come off the market in the temp and withdrawn categories... this is up from last weeks 18 homes, and to be honest, I'm not sure if it's a combination of lack of inventory for those sellers to buy a new home or sellers that are still concerned about having the general public through their homes.

I've been tracking the data for over 2 months now and it's great to see that this pandemic hasn't crushed our local real estate market.  What does the future hold... that's a great question.  Right now banks are still holding off on foreclosing on homes, some people are starting to go back to work and the market could go either way in the near future.  Will these current actions undermine the progress we've made... how many people will still be unemployed as more companies open up and choose to not bring their entire work force back... a lot of variables here.  Many have thoughts, and I've learned that trying to predict the future of our local market is like trying to predict the weather months in advance... hey, it might even snow again... I'M KIDDING!! 🤣 

$270,000

Average Sales Price

4.1

Months of Supply

43

Average Days on Market

$161

Average Price per Square Foot

Curious about what
your home is worth now?

Get an accurate home value report from our team. 

We use cookies to enhance your browsing experience and deliver our services. By continuing to visit this site, you agree to our use of cookies. More info