The West Hartford market remained solid for the first nine months of 2009 (with less sales at the higher end of the spectrum). There were 456 closed sales of houses recorded in the Multiple Listing Service for the year through the end of September (down from 517 during the same timeframe in 2008). One of the most encouraging numbers was the median Days on Market for these sales at 35 days. This shows that well-priced properties are still selling quickly (and in multiple offers). The Days on Market is a week longer than in 2008 (27 days).
Given that there were only 130 closed sales in the final quarter of 2008 and we have already had 19 closed sales and have 117 homes under contract at this point, we should see a recovery in terms of the number of sales during this final quarter!!!
For 2009 sales, the median list price was $295,000 & the median sale price was $285,000. The range in sale prices for the year started at $106,600 and continued to $954,700; this range shows both great choice and affordability in town (it also shows that no one paid over $1M to live in West Hartford in the first nine months of the year; in contrast, the highest sale in 2008 was $2.441M).
The median sale in 2009 was 5 Miamis Road, selling in 41 days. The asking price was $289,000 and the buyer paid $285,000 for a 3-bedroom, 2 1/2 bath Ranch home with a 1-car garage.
Looking to the present, there are 229 houses available to purchase as of today (this inventory is down from a high this spring of over 300 homes and up only slightly from the low-200s in January). The prices range from a low of $84,900 for a 2-bedroom, 1-bath (908 sf) home at 89 Prospect Avenue to a high of $4,800,000 for a 9-bedroom, 6 1/2 bath (13,132 sf) home at 112 Stoner Drive. The median-priced property is located at 1079 Farmington Avenue (5-bedrooms, 2-baths & 1,724 sf), with an asking price of $359,900. Note that there are currently 4 homes in town priced below $150,000 and 13 priced over $1M.
Currently, there are 117 houses under contract in town. The highest-priced is 56 High Ridge, with an asking price of $1.1M (5-bedrooms, 5-baths, 6,774 sf). The median is 81 Brookmoor, priced at $269,900 (3-bedrooms, 1.1 baths, 1,400 sf). The lowest-priced is 109 Washington Circle, priced at $119,900 (3-bedrooms, 1-bath, 1,100 sf).
For more information on the value of your home in this market, contact Brent today by cell (860-614-8927) or email (brentbell@remax.net). Ask a real estate expert with 20 years of local experience. You can find this blog directly by visiting www.MyCTRealEstateBlog.com.
If you want the approximate value of your home, and are not ready to be contacted by an agent, visit www.WestHartfordHomeValues.com. Fill out as much detail as possible about your house. Brent will respond by email only (unless you request a phone call) with an estimate of your home's current value within 24 hours of your request!
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