Submitted by Anonymous on Fri, 10/05/2007 - 05:00.
East Hartford Connecticut housing market getting back to normal
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According to the numbers, for the period between January and July of last year, there were 351 residential properties sold in East Hartford, compared to 295 homes transferred during the same months in 2006. Median prices have remained also more or less steady, increasing only by about $4,000 per sale, from a median price of $180,200, in 2006, to a median of 184,370 in 2007.
"The market has changed dramatically from what it was," observed real estate agent Robert Durato of Sentry Real Estate Services. "For four to five years it was a seller's market. It has now changed back to a more normal market, where I would say the sellers and the buyers have a more equal footing."
According to Durato, more willing sellers and fewer willing buyers have driven house inventories in East Hartford up - from a low of about 200, a few months back, to more than 300, this year.
"There are some markets, like California, Florida, Nevada, where there was a tremendous amount of speculative building that was going on. Those markets have been devastated. But that was not the New England market, it was not Connecticut. We went up certainly, percentage-wise, but not like these other markets. So we are not feeling the [same] effect," said Durato.
The future looks bright for the East Hartford market. "We have a lot of good things happening here," Durato pointed out. "We now have Cabela's, we have Goodwin College building its campus on the river, we have the new developments on Main Street. I've talked with some of the business people, and they've already noticed a difference. Things for East Hartford are positive."
Source: http://www.zwire.com/site/news.cfm?newsid= 18889601&BRD=1642&PAG=461&dept_id=10299&rfi=6
"The market has changed dramatically from what it was," observed real estate agent Robert Durato of Sentry Real Estate Services. "For four to five years it was a seller's market. It has now changed back to a more normal market, where I would say the sellers and the buyers have a more equal footing."
According to Durato, more willing sellers and fewer willing buyers have driven house inventories in East Hartford up - from a low of about 200, a few months back, to more than 300, this year.
"There are some markets, like California, Florida, Nevada, where there was a tremendous amount of speculative building that was going on. Those markets have been devastated. But that was not the New England market, it was not Connecticut. We went up certainly, percentage-wise, but not like these other markets. So we are not feeling the [same] effect," said Durato.
The future looks bright for the East Hartford market. "We have a lot of good things happening here," Durato pointed out. "We now have Cabela's, we have Goodwin College building its campus on the river, we have the new developments on Main Street. I've talked with some of the business people, and they've already noticed a difference. Things for East Hartford are positive."
Source: http://www.zwire.com/site/news.cfm?newsid= 18889601&BRD=1642&PAG=461&dept_id=10299&rfi=6
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