The Hartford, Vermont real estate market (excluding the village of Quechee) had a very strong year in 2019, setting a number of new records. Specifically, the market saw eighty-three (83) sales of single-family homes in 2019, up 12% from seventy-four (74) that sold in 2018. These sales translated into a total dollar volume of $59,243,250, an all-time high for the town.
On average, buyers paid closer to seller’s asking prices in 2019 compared to prior years. A good metric that demonstrates this is the average negotiating discount, which tells us the % difference between a home’s list price and sale price. The figure has been declining steadily over the past 6 years and reached an all-time low of just 2.91% for 2019. The average price of sold homes rose to $277,234 for 2019, up 20% from 2018, and setting another record for the market.
The supply of homes in Hartford has come down substantially compared to 2018. Specifically, there were just twenty-two (22) homes actively listed at the conclusion of 2019, down 45% from forty (40) that were listed at the end of 2018.
In regard to the broader real estate market in the region as a whole, the Greater Hanover-Lebanon market area – comprising Hanover, Norwich, Lyme, Lebanon and Hartford – was very solid in 2019. The market area saw 338 sales of single-family homes in 2019, compared to 350 in 2018. While the number of transactions in Hanover, Lebanon, Hartford, and Lyme were either flat or saw an increase compared to 2018, Norwich saw a 30% decrease from 46 sales in 2018 to just 32 sales last year. While surprising, this reduction is almost certainly due to the very limited supply of homes in Norwich at the onset of and throughout last year.
Prices continued to rise substantially with Hanover, Hartford, and Lebanon each seeing record highs in regard to average price. In 2019, the average price in Hanover was up 2% from the previous year and just shy of $750,000, Hartford was also up 20% at $277,000, and Lebanon was up 12% at $295,000.
Another sign of continued strength in the Greater Hanover-Lebanon market area was the average negotiating discount, which has been steadily decreasing from a high of 5.85% in 2010 to a record-low of just 2.48% in 2019. To put this differently, 39% of homes that transacted during 2019 sold either at or above a seller’s asking price. This was even more pronounced in Lebanon, where 50% of homes sold at or above the asking price.
Supply of single-family homes was significantly diminished at the conclusion of 2019. Specifically, there were just 84 homes actively listed for sale on December 31 of last year, compared to 148 on the same date in 2018, a 43% reduction. In Norwich, the decrease was even more pronounced as there were just three (3) homes on the market at the end of 2019, a 73% decrease compared to 2018. Norwich, along with every town in the market area, will need a significant replenishment of new supply early this year to satisfy seemingly unending buyer demand.
Charts illustrating the above information can be found below, followed by a complete list of all eighty-three (83) properties that sold in Hartford in 2019.
A list of all eighty-three (83) single-family properties that sold/closed in Hartford in 2019 is below.
| 31 Elk Street, Hartford, VT | $52,000 |
| 148 Hendee Way, Hartford, VT | $56,500 |
| 389 Dothan Road, Hartford, VT | $58,000 |
| 39 Cedar Street, Hartford, VT | $65,162 |
| 4561 Jericho Street, Hartford, VT | $124,000 |
| 97 Manning Drive, Hartford, VT | $135,000 |
| 217 Woodhaven Drive, Hartford, VT | $147,000 |
| 47 Stonecrest Avenue, Hartford, VT | $150,000 |
| 282 Latham Works Lane, Hartford, VT | $161,000 |
| 402 Mill Road, Hartford, VT | $174,000 |
| 16 Cardinal Drive, Hartford, VT | $179,500 |
| 1432 Woodstock Road, Hartford, VT | $180,000 |
| 77 Fern Street, Hartford, VT | $180,000 |
| 129 Pleasant View Terrace, Hartford, VT | $180,000 |
| 279 Ravenswood Terrace, Hartford, VT | $185,000 |
| 11 Richards Road, Hartford, VT | $185,000 |
| 154 Truell Road, Hartford, VT | $185,000 |
| 166 Locust Street, Hartford, VT | $189,900 |
| 66 Barnes Ave Avenue, Hartford, VT | $190,000 |
| 237 Lower Hyde Park Road, Hartford, VT | $193,368 |
| 96 Summer Street, Hartford, VT | $199,000 |
| 611 Cushing Road, Hartford, VT | $200,000 |
| 284 Wilder Street, Hartford, VT | $200,000 |
| 553 Chandler Road, Hartford, VT | $204,000 |
| 1668 Hartford Avenue, Hartford, VT | $205,000 |
| 471 Colonial Drive, Hartford, VT | $209,000 |
| 2680 Hartford Avenue, Hartford, VT | $212,000 |
| 198 South Street, Hartford, VT | $215,000 |
| 1763 Old River Road, Hartford, VT | $222,000 |
| 344 Locust Street, Hartford, VT | $228,000 |
| 245 Hillside Road, Hartford, VT | $229,500 |
| 150 Pomfret Road, Hartford, VT | $230,000 |
| 257 Chandler Road, Hartford, VT | $230,000 |
| 1475 Hartford Avenue, Hartford, VT | $230,000 |
| 62 Brookmeade Circle, Hartford, VT | $232,000 |
| 106 Hillridge Road, Hartford, VT | $234,900 |
| 104 Marshall Avenue Avenue, Hartford, VT | $236,000 |
| 146 Stonecrest Avenue, Hartford, VT | $236,000 |
| 766 Campbell Street, Hartford, VT | $239,000 |
| 1808 Hartford Avenue, Hartford, VT | $240,000 |
| 70 Gifford Road, Hartford, VT | $240,000 |
| 1874 Hartford Avenue, Hartford, VT | $240,000 |
| 1612 Hartford Avenue, Hartford, VT | $245,000 |
| 2212 Old River Road, Hartford, VT | $249,000 |
| 125 Worcester Avenue, Hartford, VT | $253,000 |
| 268 Chandler Road, Hartford, VT | $255,000 |
| 11 Magnolia Circle, Hartford, VT | $255,000 |
| 41 Ash Street, Hartford, VT | $258,000 |
| 221 Forest Hills Avenue, Hartford, VT | $258,000 |
| 565 Colonial Drive, Hartford, VT | $259,000 |
| 39 Larkspur Lane, Hartford, VT | $263,000 |
| 194 Stonecrest Avenue, Hartford, VT | $271,500 |
| 58 Kriskarli Drive, Hartford, VT | $273,750 |
| 16 Brookside Drive, Hartford, VT | $275,000 |
| 211 Quechee West Hartford Road, Hartford, VT | $277,500 |
| 183 Campbell Street Street, Hartford, VT | $284,500 |
| 121 Iris Way, Hartford, VT | $295,000 |
| 279 Jericho Street, Hartford, VT | $295,000 |
| 220 West Gilson Avenue, Hartford, VT | $299,000 |
| 5769 14 Route, Hartford, VT | $299,999 |
| 266 Butternut Road, Hartford, VT | $307,500 |
| 90 Gifford Road, Hartford, VT | $310,000 |
| 46 James Street, Hartford, VT | $315,000 |
| 336 Locust Street Street, Hartford, VT | $319,900 |
| 46 Pullman Lane, Hartford, VT | $322,798 |
| 97 Hidden Lane, Hartford, VT | $325,000 |
| 145 Ozzy Lane, Hartford, VT | $330,000 |
| 60 Ozzy Lane, Hartford, VT | $334,400 |
| 1112 Dothan Road, Hartford, VT | $335,000 |
| 173 Sunrise Circle, Hartford, VT | $335,000 |
| 296 Chester Arthur Road, Hartford, VT | $340,000 |
| 400 Rustic Road, Hartford, VT | $345,000 |
| 185 Aster Drive, Hartford, VT | $355,000 |
| 130 Addison Lane, Hartford, VT | $371,000 |
| 45 Conifer Road, Hartford, VT | $375,000 |
| 62 Pullman Lane, Hartford, VT | $457,261 |
| 416 Wood Road, Hartford, VT | $500,000 |
| 275 Meadowland Farms Road, Hartford, VT | $500,000 |
| 33 Abnaki Trace, Hartford, VT | $500,000 |
| 853 Hathaway Road, Hartford, VT | $520,000 |
| 1424 Neal Road, Hartford, VT | $553,620 |
| 532 Handy Road, Hartford, VT | $750,888 |
| 165 Bennington Lane, Hartford, VT | $1,460,000 |
Social Media Widget