East Hartford CT Real Estate Market Report-April 2014
In the Town of East Hartford sits the home of the University of Connecticut Huskies, the Rentschler Field. UConn Huskies is 2014 NCAA Men’s Basketball National Champions after it’s victory against Kentucky’s Wildcats in April 7. 2014 “Rentschler Field is Connecticut’s sports & entertainment stadium owned by the State of Connecticut and managed by Global Spectrum LP. In addition to being the home of the University of Connecticut Huskies football team, Rentschler Field’s 40,000-seat stadium is the perfect setting for college football, concerts, conferences, banquets and special events.”
Therefore, this town is full of vigor and jubilation. Currently, there are 191 single family homes for sale in East Hartford Connecticut. The average listing price for these properties is $151,384 with average square feet of 1,390, 3 bedrooms and 1 1/2 bathrooms.
One Hundred Four single family homes are under contract as of this writing. The average listing price for the properties with pending sale is $132,072 with average square feet of 1,387, 3 bedrooms and 1 1/2 bathrooms. The average days on the market for these properties is 85 days.
In February, 25 properties are sold and 32 in March. The average listing price is $123,396 with 1,410 square feet, 3 bedrooms and 1 1/2 bathrooms; and $126,356 with 1,298 square feet, 3 bedrooms and 1 1/2 bathrooms, respectively. This means that the home value is higher in March based on the sold price per square foot.
The current absorption rate for single family homes in East Hartford is 6.36 using a 4-month sales history. Therefore, at this rate, the inventory of 191 homes is expected to be depleted within 6 to 7 months. Read East Hartford Real Estate Market Report for March 2014
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