Hartford County CT Home Prices Skyrocket in July 2020, Highest Since 2008
strong>Real estate prices rise in Hartford County during coronavirus
It’s a strange time for the Hartford County, Connecticut real estate market. Here at Venture One Realty we recommend keeping your eyes on the marker as there might be a big financial payoff in doing so.
For the last 12 years, the average home value has been around $225,000 in Hartford County, but this year is no ordinary year. The coronavirus has brought about changes no one could have predicted. In July of this year, our county had the highest recorded average home price since 2008.
Why property prices are so high in Hartford County, Connecticut
If you own property in Hartford County, and you’ve been thinking of selling, you probably don’t want to wait. Now is your time to sell. Your home is most likely worth more now than it has been in the last 12 years.
Venture One Realty has been seeing that people are moving out of New York City at an astonishing rate. Fearful of the COVID-19 pandemic, NYC residents are fleeing their homes in the city, and finding refuge in the safe, and more affordable Hartford County, CT.
For the last several months all over Connecticut, especially Hartford County, property prices have been rising, and rising, and rising. The simple supply and demand principle is beautifully at work for those who wish to take advantage of it.
Residents who are moving out of New York City, are doing it now, not later. NYC already has over 13,000 vacant apartments.
If you want to be one of the lucky few to recognize, and act while the market is at this peak, do it now. The July 2020 average home price in Hartford County, CT reached a whopping $270,000. Last time you saw these numbers, a nationwide crash was right around the corner. Should you decide to wait, you risk the inevitable market dip.
Now if you’re a gambler, or if you’re just not ready to sell, no worries. Venture One Realty recommends that for those who are ready to take advantage of this rare market and walk away just a little richer, act immediately, COVID won’t last forever, and neither will this NYC migration.
How hot is the real estate market exactly?
From just one year ago in July 2019 to date, the Hartford County real estate market has seen some huge changes. Take a look at these July 2020 numbers.
Despite:
- Number of new listings, up 9% (usually indicating a buyers market)
This Connecticut market is still burning hot…
- Months of inventory are down from 4 to 3
- New home list prices are up 9%
- Average home list price/sq ft is up 13%
- Median home sale price is up 8.2%
- Number of closings is up 10%
- Total sales volume is up 17%
See for yourself. These graphs are pulled right off the Connecticut MLS:
Total Closed Volume:
Average Close Price:
Now What?
First, you are going to need a Real Estate Brokerage.
Venture One Realty’s innovative 1% listing plan benefits our clients by providing a FULL SERVICE MLS LISTING without paying the traditional high real estate commissions. This includes everything you expect in a real estate listing, professional MLS photos, professional signage, open house scheduling, an electronic lock box and more!
A typical listing broker will walk away with around 3% of your sale price. On a $270,000 house, that’s $8,100, a little much.
On the same priced house, Venture One Realty’s 1% Listing Plan will save you $5,400!! Keeping your equity where it belongs – in your pocket!.
Our results speak for themselves. Of the 27 Venture One Realty Google reviews, 26 are 5-stars, with a single 4-Star review.
What’s Next?
If you are serious about selling, or want to see how much your house is worth right now at this peak, contact is here at Venture One Realty. Don’t wait, as this NYC to Hartford County, CT rush won’t last long. As many of us can easily forget, the coronavirus is only temporary.
Our team of experts will be with you from beginning to end, providing knowledge and guidance on every aspect of your sale. Venture One Realty provides full Broker support with pricing, showings, offers, contracts, inspections, negotiations, and financing advice for all our clients. Contact us today to learn more about how Venture One Realty can help sell your home and save thousands of dollars on your real estate commissions.
