Real Estate
Inventory Of Single-Family Homes Plummets In Greater Hartford
The inventory of homes for sale across the area decreased by almost a third over the last year, according to a report.
HARTFORD, CT — The Greater Hartford Association of Realtors reported that the number of single-family homes on the market plummeted by about 30% over the last year, according to The Hartford Business Journal. The shortage is likely due to increased homebuying in the spring and summer.
The number of houses for sale in the region dropped from 1,845 in September 2020 to 1,301 in September 2021.
Analysts have attributed the surge in homebuying to workers leaving crowded cities for the suburbs. Combined with material shortages that has slowed home building across the country, prices have increased.
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The median sale price for the region has gone from $290,000 to $300,000 over the last year.
Read the full story in The Hartford Business.
Find out what's happening in Greater Hartfordfor free with the latest updates from Patch.
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