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Hartford Vermont Real Estate Market Report (Excluding Quechee) - First Quarter, 2019

 

The Hartford Vermont real estate market saw eight (8) sales of single-family homes in the first quarter of 2019, perfectly matching the same period in 2018.  As of April 1, there were an additional twenty-one (21) properties under contract or pending and set to close in the second quarter or later – indicating a good year to come for the market.

 

Buying activity in the first quarter is almost always the slowest period of the year due to snow covering the ground and bad weather discouraging many from wanting to go out and shop for houses.  From 2004 through 2018 in Hartford, on average, just 15% of full year sales occurred during the first quarter, with 32% of sales in the second quarter, 31% in the third quarter, and 22% in the fourth quarter. 

 

While there were not enough sales in the first quarter to generate solid figures that identify changes in price or other indicators of the market’s health, 2018 data is a good indicator of what may come in the rest of 2019. 

 

2018 was a strong year for the market, with seventy-four (74) sales of single-family homes.  Houses that sold in 2018 were on the market for an average of just 58 days before selling, down 66% from a high of 171 days in 2012, when the market was flooded with post-recession inventory.  The median price in 2018 was $232,000, up slightly from 2017, and generally following a rising trend since post-recession lows.  The average negotiating discount – the % difference between a home’s list price and sale price – was 3.39% in 2018, down from a high of 6.82% in 2009, demonstrating that buyers in 2018 paid closer to the asking price of houses than they have in years prior. 

 

Unless a significant reduction in buyer demand or a flood of new inventory comes on the market this spring – either from new construction or an increased number of sellers – we anticipate inventory will continue to tighten, the average negotiating discount will grow even smaller, and prices will inch higher. 

 

Charts illustrating the above information can be found below, followed by a complete list of all eight (8) properties that sold in Hartford in 1Q 2019.  

 

 

A list of all 8 properties that sold/closed in Hartford in 1Q 2019 is below.

47 Stonecrest Avenue, Hartford, VT

$150,000

282 Latham Works Lane, Hartford, VT

$161,000

70 Gifford Road, Hartford, VT

$240,000

279 Jericho Street, Hartford, VT

$295,000

336 Locust Street, Hartford, VT

$319,900

275 Meadowland Farms Road, Hartford, VT

$500,000

33 Abnaki Trace, Hartford, VT

$500,000

1424 Neal Road, Hartford, VT

$553,620

 

 

 

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