Hartford, CT - Local Housing Data - Summary

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Hartford, West Hartford, East Hartford, CT

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Hartford, CT Local News

New Home Closings and Prices in Hartford Fall According to Newest Figures

Posted on: Aug 08, 2014 11:25:50 AM

In May, the Hartford, CT market saw a fall year-over-year in new home closings, but the decline was less than the year-over-year decline in April. New home closings moved from 21 a year earlier to 7 after the figure moved from 21 in April 2013 to 3 in April 2014.

A total of 99 new homes were sold during the 12 months that ended in May, down from 113 for the year that ended in April.

7 of the 1,029 total closings were new home closings, a shift on a percentage basis from 21 out of 1,331 a year earlier. After remaining steady in April from a year earlier, closings of new and existing homes fell year-over-year in May.

Pricing and Mortgage Trends

The average value of newly sold homes in May 2014 was $272,176, down from last year's $332,932. This was on the heels of a 17.7% rise in April year-over-year.

There was a decline in average mortgage size on new homes, going from $292,261 last year to $251,361 in May 2014. Average mortgage size on new homes went from $291,129 in April 2013 to $378,679 in April 2014.

 
 
 

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