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Maria Gilda Racelis

East Hartford CT Real Estate Market Report February 2014

The Town of East Hartford Connecticut houses the State’s biggest  private employer, United Technologies Corp.(UTC). The State of Connecticut would be giving UTC $400 million in tax breaks to anchor its business in the state.

“The $400M in tax breaks  would be in exchange for continued research and development spending and half a billion dollars in new facilities, including a new global headquarters for Pratt & Whitney in East Hartford.”

This is great news for the residents of East Hartford and for the State of Connecticut as a whole.

(Click on the Images to Enlarge)

East Hartford Real Estate 2-2014

East Hartford Under Contract 2-14

East Hartford Sold 12-2013

sold 1-2014

 

Facts Generated from the Report and Data above:

1)  178 Single Family homes are currently for sale.

*$299,000 – The most expensive home with 3231 square feet, 6 bedrooms and 3 1/2 bathrooms. This has been on the market for 785 days.

*$144,199 – The average listing price. The average square feet is 1368 with 3  bedrooms and 1 1/2 bathrooms. The average days on the market is 120 days.

2) 82 units are under contract.

*$229,900 – The most expensive home with 2584 square feet, 5 bedrooms and 3 bathrooms. This has been on the market for 633 days.

*$122,088 – The average listing price. The average square feet is 1331 with 3           bedrooms and 1 1/2 bathrooms. The average days on the market is 112 days.

3) 39 units are sold in December of 2013 and 24 in January of 2014.

*The average listing price for sold units:

  •     December is $120,771
  •    January, it is $150,479

– a difference of almost $30,000.

*The average square feet is:

  •     December is 1289 with 3 bedrooms and 1 1/2 bathrooms
  •     January is 1486 with 3 bedrooms and 1 1/2 bathrooms.

– a difference of 197 square feet.

*The average days on the market:

  •      December – 77 days
  •      January – 84 days

Given the sold units of 39 in December and 24 in January, it is estimated that the current inventory of 178 homes will be depleted within 5 1/2 months.

Start your Search for Homes in East Hartford

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Maria Gilda Racelis
I am a full-time realtor and a no-nonsense individual when it comes to rendering services to my clients. I take my job and the responsibility it entails seriously. My clients come first. I ensure that they know and feel I am working for their best interest. However, I do not carry out tasks to compromise my principle. I conduct my business with pride, honesty and integrity.
Maria Gilda Racelis

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