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Health & Fitness

Tolland Real Estate Update: Sales Continue to Rebound in 2013 YTD

SINGLE-FAMILY CLOSED HOME SALES IN TOLLAND CONTINUE TO IMPROVE FOR 2013 YTD COMPARED TO THE SAME PERIOD IN 2012.

The local Tolland Real Estate market continues to be very active. A combination of lower inventory, great mortgage rates, and positive news reports have contributed to a turnaround across the country and locally. I have been involved with many multiple offer situations this year. I even had one home where the seller received 8 offers!

Closed single-family home sales for 2013 YTD (January-June) number 69 in Tolland. Meanwhile, 74 homes closed during the same time period in 2012. Closed home sales are down a slight 6.8% so far this year, but when factoring in pending transactions, sales are up 4.4%. Indeed, June 2013 sales are up 70.0% from just last month, pointing to the fact that way are experiencing an upward trend.

At the same time, inventory is down and homes are selling quicker. For instance, the total inventory of properties in Tolland in June 2013 was only 86 listings. That is a substantial 18.1% decline from the 105 total listings in Tolland in June 2012. The lack of inventory has persisted for some time now. The average days on market (DOM) to sell a home in town in June 2013 was only 43, down a staggering 44.9% from the 78 DOM in June 2012.

Find out what's happening in Tollandwith free, real-time updates from Patch.

From a seller’s perspective, the 2013 YTD Tolland Real Estate update is encouraging in that sales activity is up, inventory is down, and homes are selling quicker. Buyers should recognize that the market has begun to rebound and dive into the market to take advantage of some still historically great mortgage rates.

For more information and other Tolland Real Estate Updates, call Bob and James Knurek at 860-214-6453: #1 RANKED agents for ALL agencies for Hartford and Tolland Counties COMBINED in 2012 (The Knurek Team - "Knurek has the Knack" - Coldwell Banker Residential Brokerage).

Find out what's happening in Tollandwith free, real-time updates from Patch.

Sources: CT Multiple Listing Service, Coldwell Banker Market Action Report

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